Business Exits By Industry
Selling a Collectible Guns Business
Maybe you're counting on your collectible guns business to be a stepping stone to your next big business venture. Maybe it's your retirement fund. Either way, you need to maximize the price it gets in the business-for-sale marketplace.
Business buyers are a timid lot, even more so now that they are facing an uncertain economic landscape.
Fortunately for sellers, forward-thinking entrepreneurs continue to be attracted to collectible guns businesses that exhibit strong financials and potential for future growth.
Legal Considerations
It's obvious that you're going to need to hire an attorney to finalize the sale of your collectible guns business. Competent legal counsel ensures that the sale documents are in proper order. Furthermore, a good lawyers provides the counsel necessary to navigate the tax and liability issues that surround a business sale. We recommend hiring an attorney early in the process to gain insights about the legal consequences of various sale outcomes.
Before You Sell
There is a lot of work that needs to be done before you're ready to sell your collectible guns business. Perhaps the most important pre-sale consideration is to right-size your expectations to the realities of the market. Armed with a realistic timeframe and asking price, you can begin to consult with your broker about the best way to approach likely buyers.
Negotiation 101
As a business seller, you have to be at the top of your negotiating game. Information is the key to a great collectible guns business negotiation. But before you can negotiate effectively, you need to have a clear sense of your minimum sale requirements. If you lack clarity about your goals, you're guaranteed to fall short of achieving of them. A negotiating strategy is essential because it not only establishes parameters, but also creates a plan for overcoming buyer objections and impasses.
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