Exit Planning Advice By Market
Selling an Antique Store
Nervous about selling your antique store? You shouldn't be. Our tips will help you get the highest price for your antique store, regardless of what's happening with the economy.
When the economy recovers, we expect to see a sudden influx of antique stores in the business-for-sale marketplace. Although these companies have been for sale, their owners have resisted listing them until a better economy materializes.
Undaunted by economic conditions, many antique store sellers are achieving their sale goals through deliberate sale strategies.
When Is the Right Time to Sell?
Most business owners know when it's time to exit their company. There are a lot of naysayers out there advising antique store sellers (or would-be sellers) to take a wait and see approach. We aren't nearly as pessimistic about the antique store marketplace. The inventory of what we consider to be quality antique stores is actually low right now and there is room for the right sellers to realize substantial gains with investment-conscious buyers.
Benefits of Third-Party Assistance
There are a range of professionals available to guide you through the sale of an antique store. 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 benefit of soliciting outside assistance early is that seemingly small decisions now can have big consequences later. By consulting professionals throughout the sale of your antique store, you can avoid painful tax and legal complications both before and after closing.
The Case for Confidentiality
Confidentiality determines risk in the business-for-sale marketplace. If you are rigorous about maintaining a confidential sale, there is little risk in putting your antique store on the market. But if word leaks out to the wrong people, your competitors can use that information to steal business and damage your credibility. Although it can be difficult, it's important to strike a balance between confidentiality and sale promotion. Brokers and consultants can mitigate the risk by implementing confidential sale techniques.
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