5 Mistakes to Avoid When Buying an Ad Agency
There's no better time to buy an agency. Are you ready?
As more companies rebound from the pandemic, advertising is sure to pick up. According to Zenith, ad spend will grow by 5.2 percent in 2022 to $652 billion. So if you work at an agency you love and have thought about buying it, now might be the right time. Just avoid running into the same errors that other buyers have experienced when executing an internal business sale. Here are the five biggest mistakes you could make:
1. Expecting the current owner to take the lead
The prospect of an internal sale is often introduced by an agency owner. That person might approach an employee or group of employees that seem like they'd be interested in buying the business. If you’re a prospective buyer and confirm your interest, the process of negotiating a deal will begin -- unless you leave things up to the seller.
Continue reading this article - and everything on Entrepreneur!
Become a member to get unlimited access and support the voices you want to hear more from. Get full access to Entrepreneur for just $5.
Entrepreneur Editors' Picks
-
James Dyson Created 5,127 Versions of a Product That Failed Before Finally Succeeding. His Tenacity Reveals a Secret of Entrepreneurship.
-
7 Meaningful Ways Your Business Can Honor Memorial Day
-
Breast Implants Left This Founder With Debilitating Symptoms, So She Launched an Intimate-Apparel Line That Goes Beyond Buzzwords
-
Kids in the Hall's Bruce McCulloch Says TikTok Is the New Punk Rock
-
'I Am Not a Diversity Quota,' Says the Founder Disrupting the Dessert Category
-
Memorial Day Is a Time for Remembrance, So What's With All the Mattress Sales?
-
Pharrell Williams, Contemporary Artist Nina Chanel Abney and Brand-Builder Shaun Neff Announce Launch of Game-Changing NFT Platform
