May 29, 2020  
 
Gaebler.com is a daily online magazine covering small business news. We help entrepreneurs transform ideas and innovations into greatness.

Resources for Entrepreneurs

 

Selling a Company

 

Selling an Elevator Remodeling and Refinishing Business

The business-for-sale marketplace has experienced no shortage of uncertainty over the past several years. But elevator remodeling and refinishing businesses haven't been deterred. In fact, we think this economy is a ripe environment for a elevator remodeling and refinishing business sale.

If you listen to many entrepreneurs, there never seems to be a good time to put a small business on the market.
(article continues below)

For sellers who are willing to perform adequate sale preparation, the numbers make elevator remodeling and refinishing businesses a solid investment for qualified buyers in the business-for-sale marketplace.

Sale Costs

The calculation of your asking price should include a buffer to cover the expense of the sale process. Although they can significantly increase the final sale price, brokers typically receive a 10% commission. Professional consultations can also represent a significant expense during the course of an elevator remodeling and refinishing business sale. Furthermore, your time has value, so you may need to include a personal compensation consideration in your expense estimates.

Finding Prospects

Whether you know it or not, prospective buyers for your elevator remodeling and refinishing business are all around you. In fact, there is a good chance you already know several individuals or companies that might be interested in buying your business for a decent price. Although some elevator remodeling and refinishing business sellers advertise their businesses in general classifieds, the most successful sales are those in which professional brokers seek out likely buyers. Competitors may seem like natural prospects and they are. The downside is that they won't pay top dollar and will probably absorb your company into their own.

Selling to a Family Member

The idea of passing a business along to a family member sounds idyllic to many business owners. in reality, a family-based elevator remodeling and refinishing business sale can be more complicated than selling to a stranger. Often, a sale to a family member creates fractures within the family. If you refuse to discount the sales price or offer other concessions, it could create a rift with the buyer. But if you give in to the buyer's demands, you risk alienating family members who may feel the buyer is receiving an early inheritance. If possible, discuss a long-term, generational transition with the entire family and seek the advice of a professional consultant.

More Exit Planning Articles

Ready to learn more? You may find these additional resources to be of interest.

Marketing an Elevator Remodeling and Refinishing Business

Renewing Leases Prior to Selling a Business

Why Hire an Exit Planning Consultant

Pros and Cons of Using Business Brokers


Conversation Board

Did you find our tips on how to sell an elevator remodeling and refinishing business helpful? Is there anything we missed? Still have questions? If so, we would love to hear your questions, comments and insights.


Questions, Comments, Tips, and Advice  Code Image - Please contact webmaster if you have problems seeing this image code
Problem Viewing Image
Load New Code

Hoping to Open an Elevator Remodeling & Refinishing Business?

If you plan on opening an elevator remodeling and refinishing business, these guides will help you get started:

How to Start an Elevator Remodeling & Refinishing Business

Looking for Elevator Remodeling & Refinishing Business Customers?

If you consider elevator remodeling and refinishing businesses to be sales prospects, there's more applicable information for you elsewhere on our site. These helpful guides are more appropriate for you:

Selling to Elevator Remodeling and Refinishing Businesses

Mailing Lists for Elevator Remodeling and Refinishing Businesses

More Guides on Selling a Business

If you are looking for exit plan advice for a different kind of business, try our directory of exit planning guides below.

Browse more niche exit planning guides:

 

 

 

 

Additional Resources for Entrepreneurs

Lists of Venture Capital and Private Equity Firms

Franchise Opportunities

Contributors

Business Glossary