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can you sell a painting business?

30K views 87 replies 18 participants last post by  Painter-Aaron 
#1 · (Edited by Moderator)
Guys...this fellow named Terry asked for help today.

Here's what he asked...

"Can you point me in the direction that I need to go in to start the process of selling my business. I feel it is worth a lot due to the 22 years I have put into it, and the great work I put into the name and integrity of this business.

"I feel someone can use my hard work to profit nicely, can you help me? Thank You. Terry"

Here's what I told him:

"Selling a painting business is very, very challenging for most owners Terry.

"You’ll need to build systems and manuals for the incoming owners, make certain you’ve reconnected and monetized your in-house customer lists, and prepared financial statements that will pass muster with banks if the purchaser will be using SBA or other financing.

"Frankly, this is a L-O-N-G discussion because so many things need to happen to MAXIMIZE your return.

"Yes, you can quickly cash-out for a bargain-basement price to someone (maybe $10,000 more than your equipment is worth), but that would be a waste of 22 years.

That's a snippet of the advice Terry needs to hear, but there's a lot more to it than that.

Selling your painting business will be the largest financial transaction of your life if you play your cards right. If not, you'll get "peanuts" for decades of hard work - if you get anything at all.

Do you hope to sell your painting business one day? If so, reply and let me know.

I never want to hear of a single painting contractor "walking away" from a painting business without a reward for years of hard work. :mad: What say you?
 
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#82 ·
Why You Should Buy a Painting Business... Or At Least the List

On Buying a Painting Business...

If I had it to do all over again, I'd BUY the LISTS of painters who did not do anything with them except for let them collect dust for pennies on the dollar and turn them into thousands.

This is the quickest way I can think of to grow a painting business. The problem is this: While most owners don't do anything with their customer lists from a marketing standpoint, they'd likley never sell them to you.

However, if the timing and circumstances are right, this is an opportunity every owner on this thread should explore.

The trick is knowing how to market to the list systematically.

Keep your ears open for folks who are thinking about quitting, transitioning, or retiring! It's a GREAT opportunity!
 
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