Exit Planning Tips
Selling a Household Goods and Furniture Storage Business
Is the economy still a little shaky for a business sale? Sure it is. Yet household goods and furniture storage businesses haven't been deterred. In fact, we think this economy is a ripe environment for a household goods and furniture storage business sale.
Cutting corners never pays off, especially in the sale of a household goods and furniture storage business.
Despite the conventional wisdom, we believe current economic conditions are right for selling a household goods and furniture storage business. We'll tell you what you need to know to achieve a successful sale outcome
Benefits of Third-Party Assistance
Rarely, if ever, do owners sell a household goods and furniture storage business without outside assistance. Brokers can be an important resource for your sale, especially if you are unfamiliar with the business-for-sale marketplace. Additionally, you may want to hire professionals for legal, valuation and other functions before you put your business on the market. The benefit of soliciting outside assistance early is that seemingly small decisions now can have big consequences later. By consulting professionals throughout the sale of your household goods and furniture storage business, you can avoid painful tax and legal complications both before and after closing.
Family Business Sale Tips
The idea of passing a business along to a family member sounds idyllic to many business owners. in reality, a family-based household goods and furniture storage business sale can be more complicated than selling to a stranger. Often, a sale to a family member creates fractures within the family. Unless you have agreed to treat the family member like any other buyer, the risk of hard feelings among other potential heirs or family members is high. The best advice: if a family sale is a possibility, it needs to be handled objectively, with ample input from third-party advisors.
Setting the Stage
Effective household goods and furniture storage business preparation focuses on communicating value to prospective buyers. Professional business brokers understand buyers and know how to properly communicate a household goods and furniture storage business to the marketplace. Financial statements, appraisals, operations manuals and other documents lay the foundation for your household goods and furniture storage business sale, creating incentives for prospects to agree to a higher asking price.
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