Exit Planning Advice By Market
Selling an Antique Repair and Restoration Business
Is the economy still a little shaky for a business sale? Sure it is. Yet antique repair and restoration businesses haven't heard the news and are reporting steady action on the business-for-sale market.
When it comes to selling an antique repair and restoration business, there are no shortcuts to success.
Yet everyday, hundreds of listed antique repair and restoration businesses manage to pique the interest of qualified buyers. They do it by paying attention to the details that other business sellers overlook.
Dealing with Tire Kickers
Many prospective buyers will have a strong desire to acquire your antique repair and restoration business. The bad news is that they will lack the financial capacity to close the deal. 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. Good business brokers are adept at separating serious buyers from the rest of the pack. Never provide detailed information about your antique repair and restoration business until the prospect has been qualified as a serious buyer.
Brokerage Benefits
There are many reasons why hiring a broker makes sense in antique repair and restoration business sales. 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. Brokerage isn't cheap. But even though you can spend as much as 10% of the sale price on a good broker, you'll likely achieve decent ROI through an improved final sale price.
Laying the Groundwork
Effective antique repair and restoration business preparation focuses on communicating value to prospective buyers. A first-rate business broker can give your business an edge by facilitating the preparation process and orienting your presentation toward today's buyers. Financial statements, appraisals, operations manuals and other documents lay the foundation for your antique repair and restoration business sale, creating incentives for prospects to agree to a higher asking price.
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