Suggestions for selling business?

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GreatRadio
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Joined: Sun Sep 18, 2016 6:13 pm

Suggestions for selling business?

Post by GreatRadio » Wed Oct 05, 2016 7:46 pm

Does anyone have any suggestions for advertising or marketing my contract engineering business? I know it can be hard to sell small personal businesses, but I bet there's an engineer who's ready to quit the corporate world and be his own boss in a beautiful Colorado mountain town; it's a wonderful lifestyle, and a great place to raise kids. I don't want to abandon my customers, but I'm ready to move on to other things, and I'd like to make sure they're in good hands.

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Deep Thought
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Location: La Grange, IL
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Re: Suggestions for selling business?

Post by Deep Thought » Thu Oct 06, 2016 8:56 am

It is almost impossible to sell a small owner-operated service business to anyone who isn't already working there. The problem is that the client relationships are almost exclusively with the seller and are hard to transfer to someone unknown to the client.

Bob Jones tried to "sell" me his business (I was an employee of his at the time) when he wanted to retire in 1989 but I realized that all the clients I was doing the work for would still be my clients no matter what the name on the door said, so I just bought the equipment I needed from him and continued under my own name.

Hopefully you'll be able to find someone who you can introduce to your existing client list and overlap with somewhat, which is the best way to make sure there is a smooth transition. Good luck!
Mark Mueller • Mueller Broadcast Design • La Grange, IL • http://www.muellerbroadcastdesign.com

rich wood
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Location: Madison, WI
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Re: Suggestions for selling business?

Post by rich wood » Sun Oct 16, 2016 1:45 pm

Howdy,
The value of any business is the impact it has on the market place it serves. If some one was to shut down, the market will shift to other resources. So find your biggest competitor and sell them a non compete clause, plus the client list and some assets. Try to keep the receivables and let them have the payable. It is all a matter of framing the sale properly. If you go away the market will shift. Yes, the phone rings for you, but that is not the only asset.

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