Business of Craft Buying and Selling a Business with Richard Parker

Business of Craft

Today our guest is Richard Parker, the President of Diomo Corporation, who has dedicated his career to advising and mentoring people who want to buy or sell a business. He has purchased and sold 13 of his own companies and understands firsthand the emotional journey that buyers and sellers experience. This is a very relevant topic in the craft industry as many of the businesses are independent and/or family owned. As owners age and are looking toward retirement, there is often a question of how to position the business for sale, or where to even find a buyer? On the flipside, for buyers, who often come to the industry as hobbyists and enthusiasts first, how should they assess a business for purchase?