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Thread: Selling an established video business!

  1. #1

    Default Selling an established video business!

    Just wondered if anyone has experience of selling their video business, either through ill health or retiring?
    My opinions are just that . . . Mine. It's not personal, but is based on my emotional and professional reaction to requested critique. If you choose to ignore constructive comments, I'll just assume you're a vanity poster and not posting to improve your filming and editing skills.

    Ex A.P.V Videomaker of the year - Ex M.M. IOV Come join my EXclusive club

  2. #2
    Join Date
    Jan 2008
    Location
    Canada
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    1,456

    Default

    If it's a small business (dentistry, photography, etc) then the buyer joins the business for a while, becomes part of the team, then takes charge, then the old coot (original owner) retires or hobbles off on three legs

  3. #3

    Default

    Cheers for the info and echoing my thoughts - I've just never heard of anyone in UK selling theirs. The last big operator who packed in just sold their kit on ebay which seemed a real shame after all the years building a good name. Maybe some just have a poor reputaion and can't sell
    My opinions are just that . . . Mine. It's not personal, but is based on my emotional and professional reaction to requested critique. If you choose to ignore constructive comments, I'll just assume you're a vanity poster and not posting to improve your filming and editing skills.

    Ex A.P.V Videomaker of the year - Ex M.M. IOV Come join my EXclusive club

  4. #4
    Join Date
    May 2012
    Location
    São Paulo - Brazil
    Posts
    811

    Default

    I´m sure that a LOT of guys entering the market would love to learn from someone with years of experience.... Instead of selling, get a couple trainees, teach them well and grow the bussiness with new blood.... New people with new aspirations may be what you need, not retiring!! If I lived in UK I would love to join an established video bussiness and have fun with it.

    Equipment doesn´t mean much these days.... People buy a 5D and look like pros next minute!

  5. #5

    Default

    Interestingly I've had two video business approach me wanting me to buy them out in the last 18 months.

    Both claimed to have had some sort of loose contracts that provided a reasonable income, but they both wanted to sell me their entire package, including their out of date (windows) computers (I'm a Mac user), out of date cameras (tape based standard def), software I didn't need, external USB2 hard disks etc etc. Stuff I would never buy now, so I'm certainly not going to buy it 'used' and pay top price for it as well.

    On top of the overpriced s/h gear they wanted between one and two year's worth of income from the jobs as the buyout price. For some reason they both thought they were offering a great deal and couldn't understand why I wasn't snapping their hand off. I'd have been buying totally obsolete equipment and then having to work for two years just to get the money back, and of course be working for no pay all the time I was doing it. Hmmm... why didn't I think the deal was as good as they did?

    One of them didn't even have a "written contract" for the work and it was all gentleman's agreement that could have ended at a moment's notice.

    When I suggested not buying the equipment (they could ebay it) they told me I'd 'need' it to do the jobs, like I was some sort of start up, yet they knew I was already in the business, which is why they called in the first place. Needless to say neither one got anywhere with me.

    The problem with most smaller video businesses is it's people that are known, it's the people that others come to buy from based on reputation and previous relationships. If you just sell out to some one new they will be dead in the water in no time. There is much more to pass on than just the gear and a couple of jobs booked in, otherwise someone may as well just go the gear used form ebay.

    If the business was sufficiently large with lots of staff that are doing the sales, filming / editing etc then sure, you could probably buy (or sell) one without needing the hand holding transition, but I don't think it's practical to sell a one/two man video business in the same way.

    I'd be happy to hear from anyone who's been either a buyer or seller and how it went.

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