Optimizing Business Exits
Selling a Rustic Furniture Business
Selling a rustic furniture business doesn't happen overnight. It takes a deliberate process to get top dollar for your company.
Selling a rustic furniture business? You'll need to be prepared to address a variety of challenges that are common in the business-for-sale marketplace.
Many business owners don't know that rustic furniture businesses are still a hot commodity, to the extent that sellers have properly prepared them for the marketplace.
Seller Financing
The shortage in today's marketplace isn't interested buyers -- it's capital. Banks and other lending institutions aren't eager to lend to unproven and undercapitalized rustic furniture business buyers regardless of the business's potential. Rather than abandon their plans entirely, many buyers are pursuing finance concessions from sellers. As you prepare for the sale of your rustic furniture business, expect to be asked to finance a substantial part of the sale price.
Family Issues
Since your business was a family affair, your family members should also be involved in its sale 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 rustic furniture business. The sale of the business will likely result in new family dynamics. Subsequently, selling a rustic furniture business has to include ample communication and shared decision-making.
Advantages of Hiring a Broker
Brokers give rustic furniture business sellers distinct advantages in the marketplace. Right out of the gate, brokers know how to help their clients properly prepare their businesses for a sale. More importantly, brokers have the ability to identify serious buyers and maintain confidentiality throughout the sale process. Typical brokerage rates (a.k.a. success fees) run 10% of the final price - an expense that is usually recouped through a higher sales price and less time on the market.
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