July 9, 2020  
 
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Selling a Business

 

Selling an Oriental Carpet and Rug Dealers Business

We hear from a lot of business owners who are timid about listing their oriental carpet and rug dealers business. Despite the mood of the market, we think there are still opportunities to receive a good price for your oriental carpet and rug dealers business. Here's what you need to know . . .

You need to get a good price for your oriental carpet and rug dealers business. To get there, you'll need to set realistic expectations and follow a deliberate selling strategy.
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More than a few oriental carpet and rug dealers business owners fail to receive fair market value for their businesses. Smart sellers know the value of their companies are prepared to identify buyers who are willing to pay top dollar.

Professional Appraisals

An experienced appraiser is part and parcel of a successful oriental carpet and rug dealers 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.

Business Valuation

Professional appraisers can use three methods to determine the value ofan oriental carpet and rug dealers business: The income method, the asset method and the market method. The income method determines value based on the amount of income the business is expected to generate. The asset method, on the other hand, is based on the value of tangible and non-tangible assets (e.g. brands and trademarks). In many sales, the most accurate valuation comes from the market method which determines value based on the recent sales of similar businesses. A good appraiser will often use multiple valuation methods to arrive at a reasonable estimate. But regardless of the method that is used, it's always in the seller's best interest to increase revenue and asset values prior to a sale.

Preparing Family Members

Many sellers embarked on their oriental carpet and rug dealers business sale without adequately considering the impact it will have on their families. In many cases, we find that even though business owners are equipped to handle their ownership exit, their family members are having a hard time letting go of the business, especially if family life has revolved around the demands of the oriental carpet and rug dealers business. As a seller, you need to be sensitive to your family's feelings about the sale and make an effort to keep them informed about the process. Subsequently, selling an oriental carpet and rug dealers business often begins with a family conversation and a mutual decision to move on the next stage of life.

More Exit Planning Articles

Given your interest in exit planning and in oriental carpet and rug dealers businesses, you might find these additional resources to be of interest.

Marketing an Oriental Carpet and Rug Dealers Business

Selling Part of a Business

Five Tips for Maximizing Your Business Sale Price

Pros and Cons of Using Business Brokers


Conversation Board

What challenges have you experienced in selling an oriental carpet and rug dealers business or are you just getting started? If you have questions or advice to share, we'd love to hear from you!


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