Exit Planning Advice By Market
Selling an Antique Watch Dealership
A good business is about more than dollars and sense. To make your antique watch dealership what it is today, you've had to fully invest yourself in its success. Now it's time to put that same kind of focus into selling it.
Business-for-sale markets are less dependent on economic conditions than most sellers think they are.
Qualified buyers are constantly looking for attractive antique watch dealerships. And the ones that are commanding the highest price tags are the ones with sellers who are committed to the sale process.
Sale Documents
In an antique watch dealership sale, the Letter of Intent contains the vital elements of the deal between the buyer and the seller . By the time the deal reaches the final contract, many of its features are set in stone. For sellers, that makes a close review of the Letter of Intent more than a formality - it's a critical juncture on the path to closing.
Sale Preparation Timeframes
It's critical to properly plan for the sale ofan antique watch dealership. For starters, the financials need to demonstrate a track record of profitability and growth. Next, the business will need to be documented in professional financial statements and manuals that facilitate the ownership transition. Since all of this takes time and effort, a antique watch dealership can rarely be ready for the marketplace in less than six months. A more likely scenario is that it will take more than a year to create the conditions necessary to receive the maximum sale price.
Equipment and Inventory Concerns
It's incumbent on buyers to commission their own appraisal of your antique watch dealership's real assets. Most sellers, however, conduct a pre-sale appraisal to gain an accurate gauge of asset value prior to negotiations. A professional appraisal is a necessity because it gives you the information you need to negotiate a sale price. During your appraisal process, you should also note the condition of your assets. Cost-effective repairs can then be made before your list your antique watch dealership.
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