February 23, 2020  
 
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Selling a Business

 

Selling a Special Coatings Painting Business

Few entrepreneurs relish the idea of selling a business in a struggling economy. Yet special coatings painting businesses continue to be sold at a brisk pace, outperforming the sales of many other types of businesses.

You survived all the ups and downs of owning a business. Next, you'll need to prepare yourself to address the rigors of selling a special coatings painting business.
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Success is a factor of preparation, execution and a keen eye for the market. Since your future goals depend on the outcome of your sale, you'll need to have your head in the game from Day One.

Closing Strategies

Today's special coatings painting business buyers expect sellers to offer concessions to persuade them to close the deal. Although a lower asking price is the ultimate seller concession, a price reduction isn't the only way to attract serious buyers. It's not unusual for sellers to offer non-cash incentives to help inexperienced entrepreneurs get off to a successful start. A limited amount of training and mentoring may seem inconsequential to you, but to a young special coatings painting business owner, they can be critical launching points for their ownership journey.

Legal Considerations

It's obvious that you're going to need to hire an attorney to finalize the sale of your special coatings painting business. Competent legal counsel ensures that the sale documents are in proper order. Furthermore, a good lawyers provides the counsel necessary to navigate the tax and liability issues that surround a business sale. It's helpful to introduce your attorney to your broker to facilitate a smooth sale and a productive working relationship.

Preparing Your Special Coatings Painting Business for Sale

The outcome of a business sale is largely determined prior to a market listing. Successful special coatings painting business sales begin with a comprehensive strategy that incorporates planning, preparation and market positioning. Everything you do to increase market share and profitability has a payoff in the final sale price of your special coatings painting business. It is especially helpful if your financial reports can demonstrate a multiyear growth trend for potential buyers.

More Info on Business Transitions and Related Articles

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

Marketing a Special Coatings Painting Business

Pros and Cons of Using Business Brokers

Pre-Exit Employee Incentive Programs

Role of Location In Selling a Business


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What challenges have you experienced in selling a special coatings painting business or are you just getting started? If you have questions or advice to share, we'd love to hear from you!


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