Exit Planning Strategies
Selling a Video Tape Editing Business
The sale of a video tape editing business can be a difficult and trying process. But with a few tips, you can keep your shirt and your sanity in the sale of your business.
Waiting for better economic times to sell your company? That's a common anthem in the small business community.
If your exit strategy involves selling a video tape editing business these days, sellers need to make a strong case for buyers to purchase at or near the asking price.
Legal Considerations
It's obvious that you're going to need to hire an attorney to finalize the sale of your video tape editing business. Tackling the legal nuances and tax ramifications of a sale without a first-rate business lawyer is an invitation for disaster. In some cases, an attorney may also provide assistance in securing long-term leases or vendor contracts to make your video tape editing business more attractive to buyers. If you don't know an attorney with experience in the business-for-sale market, ask your broker for a referral.
When Is the Right Time to Sell?
When is it the right time to sell your video tape editing business? If you're asking the question, now may be the time to put your business on the market. Some experts are telling video tape editing business sellers to put their plans on hold until the economy fully rebounds. We aren't nearly as pessimistic about the video tape editing business marketplace. With so many sellers holding back, there isn't a lot of inventory out there and you may be able to get a great price for your practice depending on how well you prepare the business and your ability to execute your sale strategy.
When to End Negotiations
The negotiation stage of a video tape editing business can seem never-ending. But sooner or later, someone needs to bring negotiations to a close. Unfortunately, that responsibility often falls on the seller. It's not unusual for a video tape editing business sale negotiation to reach an impasse over price or other concessions. At this point in the process, an awareness of negotiation parameters really pays off. If the buyer is unwilling to accept your minimum demands, it's time to end negotiations and move on to the next prospect.
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