Personal and professional concerns surround the sale of a painting consultants business. In our experience, a common owner concern is how the sale will affect customers and employees.
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If you're ready to move on, now is the right time to sell your painting consultants business.
What About Market Conditions?
Today's painting consultants business sellers face an intimidating economic landscape. Although the economy is gaining steam, recovery is slow and entrepreneurs are holding their cards close to their vests. But when the economy fully rebounds, a shadow inventory of painting consultants businesses will flood the market and drive prices down even further. So what's our point? The economy isn't the most important factor in the sale of your business. Instead, you should be focusing on making your painting consultants business as attractive as possible so to buyers right now.
Pros & Cons of a Sale to an Employee
Employee sales have pros and cons. A faithful employee may have the motivation and ability to continue to operate the business. Since the worker already knows the ins and outs of the business, due diligence should be a breeze, not to mention the fact that you won't have to wait months or years for the right buyer to emerge on the open marketplace. But in many cases, employees expect to get a deal from their employer based on their years of service to the company. Most of the time, employees also expect owners to finance a large portion of the sale. So if you aren't willing to finance the sale or need to get top dollar for your painting consultants business, a sale to an employee is probably not a possibility.
Signs You're in Over Your Head
Many painting consultants business are tempted to save brokerage fees by selling their businesses on their own. Although there are exceptions, solo sales typically take longer and are less productive than brokered sales. Generally, listed businesses should generate interest within a few months. Likewise, if buyers seem to express interest but quickly exit when you quote the asking price, it's a sign that your painting consultants business is priced out of the market. The remedy is professional brokerage or a consultation with more experienced sellers.
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