November 18, 2019  
 
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Selling an Art and Sculpture Book Store

Owning an art and sculpture book store hasn't always been a bed of roses, but it's been worth the effort. The next step is to position your business for the demands of the business-for-sale marketplace.

Most business sellers are interested in disposing of their businesses as quickly as possible. But that's not how an art and sculpture book store sale works.
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But they're also savvy enough to know a good deal when they see it. So for art and sculpture book store sellers, today's market is all about convincing buyers that the numbers make their companies worth the asking price.

Business Assets

Buyers typically perform an independent appraisal of your art and sculpture book store's physical assets. Your appraisal should occur before you put your business on the market. A professional appraisal is a necessity because it gives you the information you need to negotiate a sale price. During your appraisal process, you should also note the condition of your assets. Cost-effective repairs can then be made before your list your art and sculpture book store.

Working with Accountants

Accountants lay the financial groundwork for a business sale. Before your art and sculpture book store goes on the market, you should sit down with your accountant to clarify your financial goals and the tax consequences of a sale. Brokers often advise their clients to have an accountant perform an audit of the business prior to sale. In certain instances, it may be appropriate to ask your accountant to vet the financials of prospective buyers, run credit checks or even structure the terms of a seller-financed deal.

Advertising Your Sale

Successful art and sculpture book store sales incorporate comprehensive advertising plans. However, confidentiality and other concerns can present challenges, even for sales professionals. The knowledge that your business is being sold almost always converts into negative PR with your customers and vendors. Business brokers are skilled at publicizing art and sculpture book store sales while maintaining the confidentiality that is critical to your business.

More Info on Business Transitions and Related Articles

Given your interest in exit planning and in art and sculpture book stores, you might find these additional resources to be of interest.

Marketing an Art and Sculpture Book Store

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Terms of Investment Banking Agreement

Selling to Competitors


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