articles/Business/sellyourphotographicstudio-page2

How to Sell Your Photographic Studio - part 2 of 1 2 3 4

by Dave Newman Published 01/08/2011

Dave:
Here there exists a plethora of reasons for selling a studio. It might be the owner's age, personal problems, health, or market swings as well as demographics to name just a few.

Heard in the classroom:
What considerations or questions exist at the outset?

Dave:
Do you really have something of value? Do you have financial records to prove this value? Is there an interested party, (employee, competitor or even a family member)? Will the studio survive after your departure? Are you selling the active business alone or are you also selling real estate (property, building, etc.) combined with the business and its name. Are you willing to sign a "non-compete clause" to protect the new owner from having you compete in a new, similar nearby business?

Heard in the classroom:
What are the key dangers in selling?

Dave:
Be aware that a large number of portrait businesses are purchased by a well-meaning buyer who scrapes up all his/her available funds to provide the down-payment only to find little or no funds and often no skills available to begin start-up operations.

Many times the seller has little choice but to take back the floundering studio and often even with loads of outstanding debt. ....now, wouldn't it be nice to have sold the business for cash and not on a monthly payment plan?

This is a simple key which I shall explain...read on.

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1st Published 01/08/2011
last update 09/12/2022 14:58:50

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How to Sell Your Photographic Studio - part 2 of 1 2 3 4