February 17, 2020  
 
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Selling a Company

 

Selling a Boat Painting and Refinishing Business

It's a misconception that no one is buying boat painting and refinishing businesses these days. Savvy entrepreneurs see boat painting and refinishing business opportunities as a path to short-term profits and long-term growth. There aren't any guarantees, but if you adhere to fundamental business sale concepts, you can likely get a good price for your business.

Dire economic forecasts have forced many boat painting and refinishing business sellers into hibernation. Instead of listing their companies now, they're hanging back until they see signs of an economic recovery.
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Despite the overall mood of the marketplace, boat painting and refinishing businesses are still an attractive investment, especially when sellers have invested time and energy in preparing their companies for a sale.

Why Confidentiality Matters

Highly publicized boat painting and refinishing business sales are risky boat painting and refinishing businesssales. If you are rigorous about maintaining a confidential sale, there is little risk in putting your boat painting and refinishing business on the market. When and if your sale becomes public knowledge, competitors can use that information to weaken your position in the marketplace. Although it can be difficult, it's important to strike a balance between confidentiality and sale promotion. Brokers and consultants can mitigate the risk by implementing confidential sale techniques.

Maximizing Sales Price

There are no simple ways to sell a boat painting and refinishing business. If you don't know what you're doing, your business could languish on the market for months or even years. Fortunately, a business broker can minimize the impact on your bank account and personal well-being. Solo sellers usually find that it's simply too much to sell their business and lead it at the same time. Subsequently, they settle for less than the business's potential sale price. For a lot reasons, a decision to hire a broker is almost always the right decision, especially for sellers who need to receive top dollar for their boat painting and refinishing businesses.

Average Timeframes

From the day they decide to sell their company, the question that plagues many owners is how long it will take to sell their boat painting and refinishing business. Unfortunately, there are no hard and fast rules about the length of time your business will be on the market. Pricing plays a role in sale length, but there are no guarantees that a fairly priced business will sell quickly. Before you can list your boat painting and refinishing business, you'll need to invest as much as a year in preparing it for prospective buyers. Once your business is ready for the marketplace, it could take an additional six months to a year to locate the right buyer.

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We think you may find these additional resources to be of interest.

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