Business Exits By Industry
Selling a Commercial and Industrial Painting Contractors Business
A good business is about more than dollars and sense. To make your commercial and industrial painting contractors business what it is today, you've had to fully invest yourself in its success. To see your ownership role through to completion, you will need to exhibit similar diligence in selling your company.
Personal and professional concerns surround the sale of a commercial and industrial painting contractors business. In our experience, a common owner concern is how the sale will affect customers and employees.
Armed with a deliberate selling strategy, sellers of commercial and industrial painting contractors businesses are finding qualified buyers, even in today's tough market.
Signs You're in Over Your Head
It's not uncommon for the owners of small commercial and industrial painting contractors businesses to adopt a go-it-alone sale strategy. Plenty of owners sell their commercial and industrial painting contractors businesses unassisted. Although there are exceptions, solo sales typically take longer and are less productive than brokered sales. As a rule, no business should sit on the market for more than six months without attracting the interest of at least a handful of qualified buyers. Lack of buyer enthusiasm or persistence indicates that something is wrong. The remedy is professional brokerage or a consultation with more experienced sellers.
Preparing for What's Next
The decision to sell your commercial and industrial painting contractors business can't be made without adequate consideration of what will happen after the sale. 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. In today's market, many buyers expect seller financing - a concession that might not be a possibility for sellers whose next step requires the entire proceeds at the time of the sale.
Tips for Seller Financing
The shortage in today's marketplace isn't interested buyers -- it's capital. Financial institutions have tightened up their lending policies, making it difficult for inexperienced and undercapitalized entrepreneurs to buy commercial and industrial painting contractors businesses. As a result, buyers expect sellers to finance a significant portion of the sale. Although 100% seller financing isn't recommended, sellers are financing up to 70% of the sale price to close deals.
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