Tips to Improve Exit Planning
Selling a Jewelry Appraisers Business
Economic uncertainty influences the timing of many jewelry appraisal business sales. But based on what we're seeing in the business-for-sale marketplace, we don't think economic conditions should deter you from putting your jewelry appraisal business on the market.
If you listen to many entrepreneurs, there never seems to be a good time to put a small business on the market.
Many business owners don't know that jewelry appraisal businesses are still a hot commodity, to the extent that sellers have properly prepared them for the marketplace.
Dealing with Tire Kickers
Unfortunately, many of the prospects you will encounter aren't serious buyers. As a seller, it's important to separate the tire kickers from the serious buyers as soon as possible. Each tire kicker is an investment of time and energy that could be poured into finding a more qualified prospect. Your business broker can offer insights about how to quickly spot tire kickers. It's likely that non-serious buyers will want to know everything about your jewelry appraisal business during their initial inquires. Avoid releasing details about your jewelry appraisal business until you have established that they have the financial capacity to make a legitimate offer.
Benefits of Third-Party Assistance
Rarely, if ever, do owners sell a jewelry appraisal business without outside assistance. Brokers can be an important resource for your sale, especially if you are unfamiliar with the business-for-sale marketplace. Additionally, you may want to hire professionals for legal, valuation and other functions before you put your business on the market. The early recruitment of external resources reduces your risk and results in a more predictable final outcome.
Maintaining Objectivity
Objectivity is a rare commodity in a business sale. Sellers typically overvalue their companies compared to the rest of the marketplace. In our experience, the most successful sales are ones in which the seller has made an intentional effort to remain objective and set realistic expectations. A business broker can be a valuable resource in right-sizing your expectations and preparing you for market realities.
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