Advice on Niche Market Exit Planning
Selling a Theatrical Talent Inventory Services Business
Planning and execution can dramatically influence the price you receive for your theatrical talent inventory services business.
Selling a theatrical talent inventory services business? You'll need to be prepared to address a variety of challenges that are common in the business-for-sale marketplace.
You'll always have an excuse for not putting your business on the market. Any theatrical talent inventory services business can be sold at any time -- you just need to know how to influence the right buyers.
Preparing Family Members
Many sellers embarked on their theatrical talent inventory services business sale without adequately considering the impact it will have on their families. Unfortunately, families often experience turmoil during a sale even when the primary owner is convinced it's the right decision. The sale of the business will likely result in new family dynamics. The decision to sell a theatrical talent inventory services business often begins with a family conversation and a mutual decision to move on the next stage of life.
Should I Hire a Business Broker?
The decision of whether or not to hire a business broker should never be taken lightly. Business brokers typically charge a 10% "success fee" when they sell a business, but they also handle many of the hassles that are associated with selling a theatrical talent inventory services business. You can also expect to receive a higher sales price for your business in a broker-assisted deal.
How to Skillfully Address Buyer Concerns
It's a common scenario: in an effort to perform a thorough due diligence process, buyers flood theatrical talent inventory services business sellers with questions and requests, often to the point of becoming a nuisance. The questions theatrical talent inventory services business ask during due diligence are designed to alleviate their concerns about the business and should be promptly addressed by the seller. To protect yourself, don't offer an answer until you are sure the information you are providing is 100% accurate. Refer to the Letter of Intent to determine how to wrap up due diligence and move the buyer on to closing.
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