Exit Planning Advice By Market
Selling an Auto Paint Business
Business-for-sale markets are susceptible to a variety of influences. As you know, the auto paint business industry has seen more than its share of fluctuations in business values. Many sellers have exited their companies under less-than-ideal circumstances. Yet it's still possible to achieve personal and professional goals when selling an auto paint business whem market conditions threaten a successful business sale.
The decision to sell an auto paint business is never easy. In our experience, a common owner concern is how the sale will affect customers and employees.
Ready to start a business painting cars? These auto paint business tips will help.
The good news is that ambitious entrepreneurs continue to see auto paint businesses as a smart business investment -- and the market is rewarding owners who are willing to invest time and energy in their sale.
Timing Your auto paint business Sale
When is it the right time to sell your auto paint business? If you're asking the question, now may be the time to put your business on the market. Some experts are telling auto paint business sellers (or would-be sellers) to take a wait and see approach. We aren't nearly as pessimistic about the auto paint business marketplace. With fewer auto paint businesses on the market, there are ample opportunities for sellers to capture the attention of qualified buyers.
Working with Accountants
Accountants lay the financial groundwork for a business sale. From a seller perspective, an accountant can offer personal financial assistance, especially when it comes to handling the disposition of sale proceeds. Brokers often advise their clients to have an accountant perform an audit of the business prior to sale. With seller financing becoming common, professional accountants are playing a more central role in negotiations and buyer qualification.
Seller Financing
Capital is hard to come by these days. Banks and other lending institutions aren't eager to lend to unproven and undercapitalized auto paint business buyers regardless of the business's potential. Rather than abandon their plans entirely, many buyers are pursuing finance concessions from sellers. Although 100% seller financing isn't recommended, sellers are financing up to 70% of the sale price to close deals.
Share this article
Additional Resources for Entrepreneurs