Niche Exit Planning Strategies
Selling a Decorative Painting Business
Your decorative painting business has been good to you. Before you walk away, you have one more challenge to overcome: A successful and profitable business sale.
Personal and professional concerns surround the sale of a decorative painting business. In addition to the personal enjoyment you received from the business, you probably have concerns about what will happen to the people who made your decorative painting business a success.
At Gaebler, we think waiting for the economy to rebound is a mistake for many business owners. Selling a decorative painting business isn't easy, but we believe sellers can achieve their goals in any economic environment.
Sweetening the Deal
Today's decorative painting business buyers expect sellers to offer concessions to persuade them to close the deal. Concessions can consist of non-cash as well as cash incentives. When you've reached your limit on price, consider offering non-cash concessions to encourage a commitment from the buyer. A limited amount of training and mentoring may seem inconsequential to you, but to a young decorative painting business owner, they can be critical launching points for their ownership journey.
Moving On
The decision to sell your decorative painting 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.
Broker vs. No Broker
When selling a decorative painting business, you have two choices: Hire a broker to facilitate the sale or perform the sale unassisted. Business brokers typically charge a 10% "success fee" when they sell a business, but they also handle many of the hassles that are associated with selling a decorative painting business. A highly skilled broker can compensate for his commission by selling your business for a significantly higher price than you could achieve on your own. But whether you use a broker or not, you may want to list your decorative painting business on BizBuySell.com and other popular online business-for-sale listing sites.
Share this article
Additional Resources for Entrepreneurs