Building a successful Museum takes a lot of hard work. Many decisions must be made. Over time, you can build up expertise in this area.
When it comes time to sell your Museum, however, you are probably new to this process.
We can guide you through the process of selling your Museum. It starts with a no-cost, confidential consultation. We’ll discuss your specific niche in the Museum industry, the types of people you draw in, and how a new potential buyer can potentially grow the business.
To give you an idea of the potential selling price of your Museum, we’ll need to understand your financial situation. This includes information such as your annual revenue and net income, including any salary and benefits you get as an owner of the Museum. We’ll also want to find out the value of your collection and any other assets that you have. We’ll look at trends and compare them to what other similar Museums have sold for.
Every Museum is unique, and we’ll work hard to maximize the value of the sale of your Museum. We’ll also keep the sale confidential, which is essential to all of our clients.
After you sign our Listing Agreement, we’ll get to work on writing the marketing documents for your Museum. One document will be a confidential overview, which will put your Museum in a desirable light. It won’t contain the name of your Museum or address. This is just general information designed to get buyers interested enough to sign a Confidentiality Agreement. Once they sign this and provide us with their qualifications, then we can provide them with more information to see if they are interested.
From there, we answer questions and see if they are qualified enough to meet with you. Once you meet them and answer questions, if both sides are interested in moving forward, the next step would be to make an offer. We try to get multiple offers to increase our leverage in negotiating.
On average, it takes about 1-8 weeks to get the first potential buyer that we introduce to you. We usually present 1-6 buyers to sell the museum. The sales process unfolds over time, and on average, it takes 6-10 months to sell a Museum; however, we have sold one in under three months. That’s if everything comes together quickly.
There are over 35,000 museums in the US, so there are potential buyers for every type of Museum.
If you are deciding whether to sell your Museum and would like a confidential consultation, please fill out the contact form on this page or call 888-750-5950. We have award-winning business brokers who can meet with you.