The decision to move on from a business, especially one that requires the emotional investment of running a museum, is never an easy one. Nor is the execution of such a plan ever easy. But there are some specific thought processes and actions that can be undertaken when selling a business in the museum industry that all owners and curators should follow to make it a successful process.
First, make sure that all of the art is in top condition. One of the greatest assets of a museum is the art that is housed within its walls. If the art has not been properly taken care of, or if the museum itself doesn't have the capabilities to keep art in good condition, then finding interesting buyers will be hard.
Second, don't try to go it alone. Getting the museum to be "buyer ready" is a difficult process, as it is in any industry. Bring in the wisdom and guidance of an outside consultant can be invaluable when it comes to maximizing return on sale.
Third, and finally, shop around. Owners are rarely best served by taking the first offer. By recruiting a large number of potential buyers, and finding at least two or three with significant interest, can drive up the price, which is ultimately what you want.