October 15, 2019  
 
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Selling a Company

 

Selling a Painting Contractors Business

Your painting contractors business is a tangible reminder of the passion and dedication you've invested in your entrepreneurial career. Now it's time to put that same kind of focus into selling it.

The economy isn't the only thing that is uncertain these days. So are painting contractors business buyers, many of whom are waiting to pull the trigger on their next acquisition.
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The business-for-sale market is extremely dynamic. Knowledgeable entrepreneurs understand that market timing isn't nearly as important as other factors in a painting contractors business sale. To improve sale outcomes, you will simply need to tailor your painting contractors business to today's buyers.

Preparing for What's Next

What will happen if your painting contractors business is a success? many sellers find themselves ill-equipped to handle life after their business and fail to understand that their future plans can influence the sale process. We frequently encounter business sellers who haven't thought enough about their futures to know whether certain concessions (e.g seller financing) are a real possibility. As a result, they make bad decisions during the sale and experience less-than-optimal outcomes.

Valuation Methods

Professional appraisers can use three methods to determine the value ofa painting contractors business: The income method, the asset method and the market method. While the income method uses anticipated revenues as a value basis, the asset method focuses on the company's capital, real estate and intellectual assets. In many sales, the most accurate valuation comes from the market method which determines value based on the recent sales of similar businesses. A good appraiser will often use multiple valuation methods to arrive at a reasonable estimate. Sellers should take note of the fact that all three valuation methods reward businesses that takes steps to increase assets and income.

Handling Unexpected Outcomes

Every business seller dreams of a fast sale and a fat payday. However, no one told the marketplace about your expectations. The outcome of your sale will be determined by market forces - not by your personal circumstances or desires. Despite your best efforts, you need to prepare yourself for the possibility of receiving less than you expected from the sale of your painting contractors business. In the event that the sale fails to meet your expectations, you may want to consider taking the business off the market until you can grow it enough to achieve your desired sale price.

More Exit Planning Articles

Given your interest in exit planning and in painting contractors businesses, you might find these additional resources to be of interest.

Marketing a Painting Contractors Business

Family Business Exit Plans

Role of Location In Selling a Business

Selling to Competitors


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