Selling up

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norymags
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Selling up

Post by norymags »

Hello all,
I’ve been a picture framer for some 25 years now, but I’m happy to retire at 67 before I reach the stage of when I don’t won’t to go into the studio any more.
I’m not at that stage as yet, but if I were to sell the entire contents I’d probably wish to give the studio in its entirety to a new start up person.
I imagine I’m going to sell this year, or next, but I need to know how to go about it.
I would dearly love someone to come along, I’d train them for a day or two, offload my general knowledge and wisdom and they take it all away in a big van.
I would love to know if I’m doing it right, what should I do, is there anyone out there already looking for this type of situation, or am I just dreaming of it.
I would hate to have to sell equipment on eBay or as separates and be left with a load of important to some, bits and bobs.
My studio is one of many out there who think theirs is best, and I’d dearly wish to sell the whole venture, which means that the buyer wouldn’t have to buy anything else for a good few years.
Opinions please ..
Thank you.
Norrie.
Your here for a good time, not a long time
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Keith Hewitt
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Re: Selling up

Post by Keith Hewitt »

Norrie,
You are not dreaming! :lol:
I've recently discussed exactly the same concept with a 3 friends, all well past retirement age, but who still have all their equipment + boards + mouldings etc and still do the odd frame job.
They all have the same idea as you. So much better to sell the entire lot and throw in training (on the kit they will be using) to get them started right.

Of course the million dollar question is how to find this person who wants to get into framing, before they go and buy some kit on E Bay.
Its very unlikely they will find this forum until they've been framing for quite a while.

One suggestion I had was to approach https://www.craftcourses.com/providers/chiron-framing, who teaches people how to frame just one picture they have painted.

And those wanabees will need to get all the kit.
And you have all the kit.
Why not approach him and say lets do a deal.
You find someone who wants to become a framer, send them to me and I can sell them all my kits + a lot of other stuff.
Offer to give him a bung if it comes to fruition. :clap:

Does this idea have legs!
Keith Hewitt
I have visited distributors and framers in 90 countries - no two are the same.
https://www.youtube.com/watch?v=4XtrrWooYdg
Jag62
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Re: Selling up

Post by Jag62 »

Hello Norrie,

You would have been my ideal seller as until recently I'd been looking for a full framing business set up.
Instead I've had to buy the key equipment from various sellers (via this forum & Ebay) and add all small tools, sundries, etc from the usual suppliers. There are still gaps in my needs but I will have to work this out as I proceed with the business.

The beauty of a seller such as you is a buyer gets the whole package and hits the ground running from day 1. They also get the icing on the cake which is the training & insight from your 25 years of knowledge.

I found this forum early on in my search so it has been key in helping me ascertain what I needed and has given me access to sellers.

I would advertise here but also advertise the whole set up on Ebay listing everything in detail & include info re the training you're prepared to offer. Start at a higher price than you need & allow offers so that potential buyers can contact you with offers & you can then steer them to contact you direct or via this forum = as no one likes Ebay fees :wink:

This business recently sold on Ebay..

https://www.ebay.co.uk/itm/Picture-Fram ... Sw59hea9XT

Neil
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Steve N
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Re: Selling up

Post by Steve N »

The one on eBay was sold for less than £3k, the whole lot, so whoever bought it had a bargain, but they were only buying the equipment, materials and stock, so in theory the business, but in practice not the business, just all the bits for a business , doesn't say anything about training or customer base.
Depends on what you want, the maximum £'s for all your stuff or just to get rid of the whole lot in one go.
It's the biggest drawback for working from home, if and when you want to give up / retire from framing, the value is only going to be what you can get for all the equipment, materials and stock, as in the business sold on eBay, because the business is YOU , no matter who your customers are, once it's sold and moved from your home to wherever, as you are no longer involved.
The only exception is if the majority of your business is online/mailorder, as the business can operate anywhere, plus you also have a customer base , they are not worried about the business has moved , most will probably not even be aware of the change of ownership , I would think you will get more bucks for it as you will be selling a running business ( with a proven track record ), with online presence, website and other online selling platforms .
Steve CEO GCF (020)
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norymags
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Joined: Tue 24 Jan, 2006 12:00 pm
Location: The Studio
Organisation: Picture This Framers
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Location: Annan Dumfriesshire

Re: Selling up

Post by norymags »

All very helpful.
Thank You.
Your here for a good time, not a long time
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