Business Exits By Industry
Selling a Ceramic Arts Business
A good business is about more than dollars and sense. To make your ceramic arts business what it is today, you've had to fully invest yourself in its success. To see your ownership role through to completion, you will need to exhibit similar diligence in selling your company.
The business-for-sale market is just as frustrating for buyers as it is for sellers these days. Capital is scarce and many buyers simply can't afford the entry requirements for a ceramic arts business.
Too often ceramic arts business owners cave under the pressure and settle for a lower sales price than they should. With the right strategy, your sale doesn't have to end that way.
Negotiation 101
It's critical to negotiate from a position of strength. More often than not, the person with the most knowledge will come out on top in a ceramic arts business negotiation. However, the first step in good negotiating is to develop a sense of what you need to get out of the deal. A thorough understanding of sale price, possible concessions and other bottom line requirements gives you the ability to negotiate with confidence. If you aren't sure what you need, put negotiations on hold until you gain a clearer understanding of your own deal parameters.
Sale Costs
In a ceramic arts business sale, pricing is based on a number of factors, including the costs incurred during the sale. Good brokerage takes a 10% success fee off the top of the final sale price. Depending on your circumstances, you may also incur substantial expenses in hiring legal, appraisal and accounting professionals. Furthermore, your time has value, so you may need to include a personal compensation consideration in your expense estimates.
Emotional Considerations
It's impossible to predict the emotional highs and lows you will experience during the sale of your ceramic arts business. The emotions of a sale are complicated by the fact that it may take time to locate the right buyer and the final sale price may be less than you think your ceramic arts business is worth. You can prepare yourself by talking through your emotions with friends and family members, and thoroughly evaluating your minimum requirements before you put your ceramic arts business on the market.
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