A business exit is always a trying experience. But when you need to sell your antiques restoration supplies and hardware business in a depressed economy, the challenges can seem insurmountable.
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Too often antiques restoration supplies and hardware business sellers fail to receive fair market value for their businesses. That's unfortunate because all it takes to get a fair price in today's market is ample planning and an awareness of what's important to buyers.
Preparing Your Antiques Restoration Supplies & Hardware Business for Sale
The outcome of a business sale is largely determined prior to a market listing. Profitable antiques restoration supplies and hardware business sales opportunities leverage a long-term strategy to increase the value of the business to buyers. Even though it may take years to adequately position your antiques restoration supplies and hardware business, the amount of preparation you perform will have direct correlation on asking and sale prices. But your efforts to improve your company's position and profitability will only be effective if you invest similar effort into the preparation of accurate financial statements for buyers.
Capital is hard to come by these days. Banks and other lending institutions aren't eager to lend to unproven and undercapitalized antiques restoration supplies and hardware business buyers regardless of the business's potential. Rather than abandon their plans entirely, many buyers are pursuing finance concessions from sellers. Although 100% seller financing isn't recommended, sellers are financing up to 70% of the sale price to close deals.
Signs You're in Over Your Head
Many antiques restoration supplies and hardware business are tempted to save brokerage fees by selling their businesses on their own. Without brokerage, the risk of your sale going off-course is increased. Generally, listed businesses should generate interest within a few months. Lack of buyer enthusiasm or persistence indicates that something is wrong. The remedy is professional brokerage or a consultation with more experienced sellers.
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