July 7, 2020  
 
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Selling a Yacht Furnishings Business

Forget about what you read in the paper -- yacht furnishings businesses are being sold everyday and the business-for-sale market is poised for even greater growth in the months ahead.

It's a fact: Successful business sales take time.
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Armed with a deliberate selling strategy, sellers of yacht furnishings businesses are finding qualified buyers, even in today's tough market.

Selling to a Family Member

There is no easy way to sell a yacht furnishings business, not even to a family member. 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. If possible, discuss a long-term, generational transition with the entire family and seek the advice of a professional consultant.

Moving On

So you've decided to sell your yacht furnishings business. That's great -- but have you considered what's next? Are you moving on to another business venture? Are you retiring? many sellers find themselves ill-equipped to handle life after their business and fail to understand that their future plans can influence the sale process. We frequently encounter business sellers who haven't thought enough about their futures to know whether certain concessions (e.g seller financing) are a real possibility. As a result, they make bad decisions during the sale and experience less-than-optimal outcomes.

Brokerage Benefits

Brokers give yacht furnishings business sellers distinct advantages in the marketplace. First, business brokers are in tune with the realities of the market and are skilled at helping owners make their businesses attractive to premium buyers. Even more, the best brokers have a track of record of discreetly identifying likely buyers and contacting them on your behalf. Although you will pay a fee for brokerage, it's generally worth it because the end result will be a higher sales prices and more favorable terms.

More Exit Planning Articles

Given your interest in exit planning and in yacht furnishings businesses, you might find these additional resources to be of interest.

Marketing a Yacht Furnishings Business

Selling to Competitors


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