Exit Planning Advice By Market
Selling an Art Supply Store
The sale of your art supply store is the culmination of this stage of your entrepreneurial journey. Although most business owners expect a storybook ending, it will take the careful application of sound selling principles to bring your sale to a successful conclusion.
A business exit is always a trying experience. But when you need to sell your art supply store in a depressed economy, the challenges can seem insurmountable.
Eventually, it will the time will come to exit your business. When that happens, your future plans will be dependent on your ability to receive the highest possible sale price for your art supply store.
When to End Negotiations
The negotiation stage of an art supply store can seem never-ending. But sooner or later, someone needs to bring negotiations to a close. Unfortunately, that responsibility often falls on the seller. In an art supply store sale, a stalled negotiation can be an indication that the deal is dead. Since it can be difficult to tell whether the buyer is serious or playing games, it's important to know the lower boundaries of your negotiation strategy and be willing to walk away from the negotiation table, if necessary.
When Is the Right Time to Sell?
Most business owners know when it's time to exit their company. Opinions are mixed and some consultants are advising art supply store sellers (or would-be sellers) to take a wait and see approach. We aren't nearly as pessimistic about the art supply store marketplace. The inventory of what we consider to be quality art supply stores is actually low right now and there is room for the right sellers to realize substantial gains with investment-conscious buyers.
Working with Appraisers
An experienced appraiser is part and parcel of a successful art supply store 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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