Exit Planning Techniques By Market

Selling a Furniture Rental and Leasing Business

Over the past few years, the furniture rental and leasing business industry has seen more than its share of fluctuations in business values. Here's what you'll need to know to sell a furniture rental and leasing business in the current economic environment.

Business buyers are a timid lot, even more so now that they are facing an uncertain economic landscape.

Start a Furniture Rental Business

If you can keep your furniture inventory out of your warehouse and have it be actively rented, a furniture rental business can be very profitable.

Many business owners don't know that furniture rental and leasing businesses are still a hot commodity, to the extent that sellers have properly prepared them for the marketplace.

Dealing with Tire Kickers

Many prospective buyers will have a strong desire to acquire your furniture rental and leasing business. The bad news is that they will lack the financial capacity to close the deal. Selling a business is hard enough. You can't afford to waste time on prospects that have no chance of turning their interest into an actual purchase. If you aren't sure what to look for in a serious buyer, ask your broker for advice. Never provide detailed information about your furniture rental and leasing business until the prospect has been qualified as a serious buyer.

Finding Prospects

Many sellers don't realize how many prospective buyers there are for their businesses. Although some furniture rental and leasing business sellers advertise their businesses in general classifieds, the most successful sales are those in which professional brokers seek out likely buyers. Competitors may seem like natural prospects and they are. The downside is that they won't pay top dollar and will probably absorb your company into their own.

The Best Person to Sell Your Furniture Rental & Leasing Business

An unassisted business sale is a double-edged sword. Few people know your business as well as you do. However, your close connection to your company can also be a drawback. Nearly all sellers have an inflated sense of their company's value. At a minimum, conduct an independent appraisal of the furniture rental and leasing business to gain an objective sense of fair market value.

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