November 22, 2019  
 
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Selling a Lapidaries Business

There's a right way and a wrong way to sell a lapidaries business these days. We'll tell you how to keep your sale and your future plans on track.

Most business sellers are interested in disposing of their businesses as quickly as possible. But that's not how a lapidaries business sale works.
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But at Gaebler, we see lapidaries businesses still selling at a brisk pace. Not surprisingly, buyers expect to receive value for their dollars - and that means sellers need to demonstrate that their businesses are capable of delivering anticipated returns.

Buyer Identification

Buyers of lapidaries businesses run the gamut. Some are seasoned lapidaries business veterans interested in expanding their operation or adding a new location. Others are first-time entrepreneurs with a taste for the small business lifestyle. Avoid pigeon-holing your search to a single buyer category. Although it's helpful to target promotional tactics to likely buyers, allow for some exposure to the broader market. Sellers should also recognize the value of promoting their sale in trusted business networks, carefully balancing the need for confidentiality with the promotional potential of their contact base.

Broker vs. No Broker

When selling a lapidaries business, you have two choices: Hire a broker to facilitate the sale or perform the sale unassisted. Is there a cost associated with hiring a broker? Sure - about 10% of the final sale prices. But a good broker will make selling your lapidaries business much less painful. You can also expect to receive a higher sales price for your business in a broker-assisted deal.

Maintaining Objectivity

Objectivity is a rare commodity in a business sale. Your estimate of your company's worth is probably skewed by your emotions and your close, personal connection to the business. In our experience, the most successful sales are ones in which the seller has made an intentional effort to remain objective and set realistic expectations. A business broker can be a valuable resource in right-sizing your expectations and preparing you for market realities.

More Exit Planning Articles

Ready to learn more? You may find these additional resources to be of interest.

Marketing a Lapidaries Business

How To Choose An Investment Banker


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