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Thinking of selling my taxidermy business after 35 yrs can anyone help me ?

Discussion in 'For Sale' started by lakeside, Aug 14, 2015.

  1. lakeside

    lakeside Member

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    I'm a taxidermist in Oklahoma , I have been established as a full time taxidermist for 35 yrs. I average around 250 mounts a year with 150 of them being whitetail deer. I'm wanting to sale to a friend that works for me. I have had someone appraise the building and the land , but I don't no how to put a fare price on the business. Any help would be appreciated. Thanks , Lakeside
     
  2. DavidsonT

    DavidsonT Member

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    I'm no expert,but I've heard the formula for pricing a business is 4 times what it clears annually
     

  3. pir^2h

    pir^2h Retrievers give you the bird

    Read this article from SCORE. It may give you some guidance.

    https://www.score.org/resources/columnists/peter-siegel/valuing-small-business

    Unless you friend has cash for the business part of the deal or some other collateral it could be very difficult to get financing. I don't think too many banks and loan companies view taxidermy as a viable business like they would say a grocery store. I hope it all goes well and good luck with your sale!
     
  4. I have known several taxidermists that have sold their business, or tried to anyway. If you can get the value of the building, land and equipment/inventory you should probably be happy.
     
  5. Mark pretty much nailed it! Your business is because of your ways of doing things and it is a shame, but it is not worth what you would think. I have a good business with lots of high end clients and bring in lots of business each year and I am ready to retire and I sure got my feelings hurt when I was told that the business itself is not worth more than around fifty thousand dollars at the most. My building and processing equipment are valuable, but what I worked on building up for 25 years is not. You have to realize that you have made your living from the business and that is valuable to you. This might not make you feel any better, but it is the truth! I had to realize it and you will have to also.
     
  6. merridancer1

    merridancer1 New Member

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    The way we sell businesses that are known by the person, is that the buyer gets paid a percentage of what work comes in from his clients for the first three years. First year 25%, second year 15%, third year 10%.
     
  7. lakeside

    lakeside Member

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    thanks to everyone who replied I plan on financing it myself, but didn't no what to charge for the business. Your comments have been very helpful. Thanks Lakeside