Exit Planning Advice By Market
Selling an African Art Gallery and Dealer
When it's time to sell your African art gallery and dealer, your future plans depend on your ability to get the highest possible sales price. Here's how to do it . . .
Waiting for better economic times to sell your company? That's a common anthem in the small business community.
The good news is that ambitious entrepreneurs continue to see African art gallery and dealer as a smart business investment -- and the market is rewarding owners who are willing to invest time and energy in their sale.
Leveraging Industry Connections
Today's African art gallery and dealer buyers can be found in a variety of locations. To advertise your sale to the widest possible audience, consider a listing on BizBuySell.com or other top online business-for-sale listing sites. But industry connections can also be a valuable source of leads. Time and time again, successful African art gallery and dealer sales emerge from relationships within the industry. The challenge is to leverage industry connections while keeping knowledge of the sale hidden from your competitors. Use good sense in restricting the flow of information within the industry and focusing your efforts toward trusted industry allies.
Preparing Your Employees
As a business owner, you want to keep you employees informed about your plans; as a seller it's in your best interest to keep your employees in the dark for as long as possible. You're concerned about confidentiality, and rightfully so. However, the longer the selling process drags on, the more likely it is that rumors will begin to circulate throughout your workforce. So at some point you will have to resign yourself to the idea of telling some or all of your employees that you have listed the African art gallery and dealer on the market. Maintain a positive tone in your conversations and answer your employees questions as completely as you can without jeopardizing the sale.
Laying the Groundwork
In addition to improving profitability and market share, planning the sale of your business will require you to think about how you will present your company to buyers. Professional business brokers understand buyers and know how to properly communicate an African art gallery and dealer to the marketplace. Specifically, brokers can advise you about the preparation of financial statements and other documents buyers expect to see in a premium African art gallery and dealer opportunity.
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