Exit Planning Tips
Selling a Hand Blown Glass Shop
With the economy limping along, many hand blown glass shop owners are hesitant to put their businesses on the market. But in reality, now may be the perfect time to sell a hand blown glass shop.
Selling a hand blown glass shop? You'll need to be prepared to address a variety of challenges that are common in the business-for-sale marketplace.
Many business owners don't know that hand blown glass shops are still a hot commodity, to the extent that sellers have properly prepared them for the marketplace.
Maximizing Sales Price
There are no simple ways to sell a hand blown glass shop. If you don't know what you're doing, your business could languish on the market for months or even years. Many sellers find that hiring a business broker makes the demands of a sale much more tolerable. If you try to sell your business without a broker, your time will be consumed by the details of the sale. Subsequently, you'll be distracted from the demands of your auto supply store, business will suffer, and the sale price you receive for your company will be dramatically reduced. For a lot reasons, a decision to hire a broker is almost always the right decision, especially for sellers who need to receive top dollar for their hand blown glass shops.
Economic Considerations
Think a hand blown glass shop sale is simple? Think again. Interest rates, spending, inflation, and other variables directly influence how long your hand blown glass shop will be on the market as well as its sales price. The truth is that perfect market conditions may never materialize. A much better approach is to focus on the factors that always attract buyers and investors. In our experience, the most important factors in the sale of a hand blown glass shop have little to do with the economy.
Selling to a Family Member
The idea of passing a business along to a family member sounds idyllic to many business owners. in reality, a family-based hand blown glass shop sale can be more complicated than selling to a stranger. Often, a sale to a family member creates fractures within the family. Whether you offer the family member special concessions or not, either the buyer or other family members may take offense. The best advice: if a family sale is a possibility, it needs to be handled objectively, with ample input from third-party advisors.
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