The Framers Forum

Hello forum,

Thought I would put this out to the forum for any advice and suggestions; i am looking to sell my framing business located in a north London workshop. Have been there for 3 years after moving from the previous location where the business was based for approx. 24 years. Hoping to sell due to personal changes.

The lease ends in June so either the buyer can take over a new contract with the landlord or take the business elsewhere as well as all my stock, equipment and client list. Would suit someone who is already a framer and wants a package framing shop ready to go. The workshop I rent is very reasonable considering its central location and the lease contract is 3 years with no rent increase each year and no business rates to be paid. Perfect size and height for this work.

Not sure I will be able to find a suitable buyer within 6 months but worth a shot, am I silly to try? Should I just sell off the equipment and stock? Has anyone else been successful in selling a business or know someone who would be interested?

Any idea or advice welcome ,

Have a lovely New Year!

It's likely to be a buyers market right now and you might have to settle for a lower price that you intended. Picture framing businesses are not always considered as the best business for someone, with a bit of spare cash to invest in and the timing is not the most helpful, with a newly elected govenment, which is yet to have it's first budge. Perhaps not the best time to be making financial decsions. Best to work out what to do sooner rather than later. The bigger and most essentcial items of picture framing equipment are always reasonably straight forward to sell. Items that people can manage without at first are a bit of a lottery. Getting a decent price for you stock is really hard, nobody needs much stock to start of a framing business and they can pick up the phone and get anything they need next day, so selling stock is hard work.

Having said all that, you are in a nice area, with expensive housing stock. I believe that you are in Camden, which has got a lot going for it. Camden lock, Camden Passage, trendy street markets, so your area is a lively location. If you can find a buyer sooner, rather than later, things may be a lot easier than getting too close to the end of the lease. Anything that you have to store, intending to sell later is likely to be a PITA, try and sell it all in one go if you can, particularly as that's likely to be the way to get the best overall price. I used to own a Secondhand Books and Antique print shop, when I closed it down a lot of my stock had to go to the recycling centre and it cost a fortune to take it all there. I've been through all that and it was an upsetting experience, so I can sympathise.

Hi,

Maybe you could throw in some tuition/support with the sale price?

If the business is making money and you have a good rent deal in a nice spot, that could be quite attractive to someone.

Anyway, GL with whatever you decide on.

Paul
PS. It's gotta be worth trying for a few months to sell as a going concern...you can always flog the gear on fleabay etc if a buyer isn't found.