Business Exits By Industry
Selling a Collectibles Business
Does the economy have you down? For exiting owners, the idea of listing their company now can be terrifying. Fortunately, a collectibles business sale isn't as scary as it seems.
The economy isn't the only thing that is uncertain these days. So are collectibles business buyers, many of whom are waiting to pull the trigger on their next acquisition.
Despite the conventional wisdom, we believe current economic conditions are right for selling a collectibles business. With the right information and strategy, you could be well on your way to a successful sale
Working with Appraisers
There is no substitute for a qualified appraisal in the sale of your collectibles business. 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.
Negotiating Your Sale
There's no room for error when you negotiate the sale ofa collectibles business. More often than not, the person with the most knowledge will come out on top in a collectibles business negotiation. But before you can negotiate effectively, you need to have a clear sense of your minimum sale requirements. If you lack clarity about your goals, you're guaranteed to fall short of achieving of them. A negotiating strategy is essential because it not only establishes parameters, but also creates a plan for overcoming buyer objections and impasses.
Family Issues
You're ready to sell your collectibles business, but is your family prepared for the transition? 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 a collectibles business often begins with a family conversation and a mutual decision to move on the next stage of life.
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