Exit Planning Advice By Market
Selling an Antique Furniture Refinishing Business
Nervous about selling your antique furniture refinishing business? You shouldn't be. Our tips will help you get the highest price for your antique furniture refinishing business, regardless of what's happening with the economy.
Business-for-sale markets are less dependent on economic conditions than most sellers think they are.
In a skittish economy, antique furniture refinishing business sellers can access several strategies to receive fair market value from entrepreneurs who understand the value of a good business investment.
Negotiation Teams
Business sellers are sometimes surprised to find themselves in the position of negotiator-in-chief. When you sell your antique furniture refinishing business, your business brokers may or may not be willing to conduct negotiations for you. Negotiation is a chess game, best played with the resources and backend support of a negotiation team. By enlisting the assistance of a negotiation team (senior leaders, experienced negotiators, etc.), you can improve the quality of your negotiation strategy and position yourself to receive top dollar for your antique furniture refinishing business.
Preparing Family Members
Many sellers embarked on their antique furniture refinishing business sale without adequately considering the impact it will have on their families. Unfortunately, families often experience turmoil during a sale even when the primary owner is convinced it's the right decision. The sale of the business will likely result in new family dynamics. Subsequently, selling an antique furniture refinishing business has to include ample communication and shared decision-making.
Working with Appraisers
An experienced appraiser is part and parcel of a successful antique furniture refinishing business sale. Leading industry appraisers equip sellers with a value gauge that can be accessed during negotiations. If you're disappointed with the appraiser's estimate of your company's worth, you have the option of seeking a second opinion. However, it's more often the case that you will need to adjust your expectations of your business's value to buyers.
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