thinking of selling business

[brush1]

I set up price. Not a broker. It works like to sell a house.
I was forced to sell it because family issue.
I didn't make it for sell. It was just nice sign shop. The buyer was checking papiers of course.
Escrow is good way to do it. It cost but it is safest way to do transaction like this.
Safe for buyer and seller.

 

[James Burke]

Depends a lot on whether you own a job or a business.

A "job" requires you to be there for it to make money.
A "business" is a system designed to make money without you being there.

The reason most small businesses don't sell for much is because there's nothing of real value left once the owner leaves. If you have supply chains, inventory systems and production methods in place as well as employees who can and do handle everything without you then you have a product an investor can look at and see how he can tweak the system to make him more money.

This is a golden answer. But it's also the golden question every entrepreneur should ask themselves on day #1 when they open their business. Even if you're a one-man-show, you should begin by building systems that will sustain growth and create value.

In all honesty, it doesn't take that much more time to create rock-solid operating systems. Your business will operate with fewer headaches and the value you create will far exceed the price of used equipment.


JB

 

[BROWNDOG]

lots of great posts here, I guess its time for a gut check and either go hard like its fourth quarter or start looking for an alternative.

 

[BobM]

google Ted Burbank, business broker. He is the guru of selling a business. His books cover all aspects of valuing, marketing, financials, and the mental process you must go through to be successful selling your business.

 

[visual800]

working that hard is uncalled for. YOU are the business owner but it appears the business owns your a$$. It mentally wears you out, You need to have set times, raise your prices and start a new campaign to kick all the BS out of your life...ie: Trixiies Birthday Banner needed tommorow, house for sale sign that takes a customer 2 weeks to decide on, the Indian that wants a quote on hours on his hotel business....all this is worthless crap that clutters your life and adds confusion

Do not allow your customers to own you, blame you and place their pressure on you to get a job done. Crack a whip, make a change and do it today! you will be amazed at he stress level leaving you. Saying NO! is the best part of being self employed.

 

[SignManiac]

:ROFLMAO: I think I know how you came up with numbers in your favor.......... :Oops:


Seriously though, you said it yourself.... the man told you, you were lucky.





It can be done, but I would not count on much based on the facts of the OP's opening post.....

sometimes it just gets to be too much, and i want out!
anyone ever sell a sign shop before or have any advice for dos and donts


​

Doesn't sound like much effort was... or will be put into this emotional statement. We all feel it from time to time. Heck, I did, just the other day when a very big job we were working on went south, probably even lost it due to someone's oversight on their part.

Whether customers continue to give lousy artwork, you run out of ink in the middle of a job, the door flies open and blows sh!t all over the place or just plain ol' screw ups, we all feel like running away as fast as our legs will carry us and drink that piña colada on the beach at sunset. Raising prices, taking a few days off or just facing it head on, things will always get better. One needs to look hard at themselves and figure out how much you did wrong vs. how much you were handed wrong and figure out what went wrong and how you can fix it so it doesn't happen again, or you can at least avoid it next time.
​

Very true Gino. I can relate to every word of your assessment!

 

[Pat Whatley]

Saying NO! is the best part of being self employed.

Probably the smartest thing you've ever said.

 

[rjpjr]

People were much stoopider then...

He said Stoopider!!! :ROFLMAO:

Sorry Gino :Big Laugh​

There is a vast amount of wisdom in this thread!! It has been a very enjoyable read.
I am often surprised which threads reveal true gold.

 

[Robert M]

Selling the business

Get a broker and do it right
I see people spending hundreds of thousands on sign franchise stores, people are willing to pay to have someone with an established business hold their hand while they start out. Get professional help, if the broker sees no value he won't waste his time trying to sell your business, he gets paid when he completes the sale.

 

[TheSnowman]

When I was sick of it and wanting out, everyone said "Make sure you are on top, and not just getting out because stuff is getting rough." When I wanted out, I was at the bottom, barely surviving. I raised prices, worked less, made more, got rid of the bottom feeders, and now I'm enjoying it again. I bought the business 25 years old from my grandparents, and bought a "customer list" and an old gerber plotter. I didn't pay a TON for it, but what I paid was too much.

Like was said earlier...it's not worth much unless it can run itself, other than the equipment there. I could see how finding someone to buy that would make it seamless would make it more valuable though. Your current customers knowing who they'll be working with now would be beneficial as to how they'll feel about the change.