What should I check before buying a furniture restoration business?
Check who can do the craft work besides the owner, which customer pieces are in the shop and on what terms, the condition of finishing and ventilation equipment, and where the work comes from. Referrals from movers, insurers and designers can end when an owner leaves, so ask how they are kept.
A furniture restoration shop sells skilled labour. It repairs, strips, refinishes and sometimes reupholsters pieces that belong to customers. That makes it different from a maker or a retailer. What you are buying is mostly the ability to do the work, the relationships that send it, and a workshop that is set up for it. Check each of those before you commit.
Who else can do the work
Ask how much of the skilled work the owner does personally. If the owner is the only person who can match a finish or repair a veneer, the business may fade when they leave. Meet the staff, ask what they can do alone, and ask whether the owner would stay for a handover. A signed training period is common with craft businesses.
Customer pieces in the shop
At closing, the shop will hold other people’s furniture, some half-finished and some paid for. Ask for a list of every piece, the quote, any deposit taken and the promised date. Decide with your lawyer how those jobs and deposits will be handled so that no customer is left out. Also ask who is responsible for damage to a piece while it is in the shop.
Equipment and the work space
Finishing rooms, spray booths, ventilation, dust collection and stripping areas are central to the work. Ask when they were last serviced and whether any inspections or insurer requirements apply to them. Your lawyer or insurer can tell you what applies to the site. Look at the lease too, because moving a finishing room is costly. See how to check shop equipment for a comparable checklist.
Where the work comes from
Movers, insurers, designers, dealers and antique stores often send pieces to a trusted restorer. Ask which referrers matter most and whether they know the sale is coming. A call from the owner can help keep them.
Related reading
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Selling
Sources
This answer is checked against primary sources. Links were last confirmed on the dates shown.
- 01Business Development Bank of CanadaGovernmentHow to conduct due diligence when buying a business
- 02Business Development Bank of CanadaGovernmentEquipment valuation: How to do it
- 03Business Development Bank of CanadaGovernmentWhat are the steps to buying a business?
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