Selling a antiques business? You'll need to be prepared to address a variety of challenges that are common in the business-for-sale marketplace.
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But at Gaebler, we see antiques businesses still selling at a brisk pace. Like always, unprofitable and poorly positioned businesses struggle to find buyers while sellers who have invested time and effort to prepare their sale are being rewarded in the marketplace.
Leveraging Seller Concessions
It's becoming more difficult to sell an antiques business without considering seller concessions. By far, seller financing is the most sought-after concession, especially in the current economic environment. Capital is scarce, causing new entrepreneurs to rely on sellers to finance at least part of the purchase price. As an alternative, clearly state that seller financing is not an option and consider offering other concessions to see the sale through to its completion.
When Is the Right Time to Sell?
If you're feeling like your tenure as the owner of the antiques business is coming to an end, the time to sell is now. Some experts are telling antiques business sellers to put their plans on hold until the economy fully rebounds. At Gaebler, we have a much more optimistic view of your chances in the antiques business-for-sale market. The inventory of what we consider to be quality antiques businesses is actually low right now and there is room for the right sellers to realize substantial gains with investment-conscious buyers.
After the Sale
As your antiques businesssale nears completion, there is a lot of work remaining to be done. Handing over the keys and saying goodbye to your employees is easier said than done, and requires thoughtful consideration prior to closing. If there are pending details that still need to ironed out, address them ASAP to ensure a smooth closing and transition.
Given your interest in exit planning and in antiques businesses, you might find these additional resources to be of interest.
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