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Rob Campbell Owner

Miller Signs

By Miller Signs
in General Message Board

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Rocco Journeyman

Rocco

Posted
Posted

Back in the late 90's, before i ended up buying the family business, my parents talked to several different business brokers.   it took nearly almost two years to find one that was trustworthy.  One just wanted to sell us a book about the history of the business, another couldn't get any interested buyers, some just want to put your business up on a website, etc.   I eventually bought the family business (still not sure if that was a good idea or not) and we worked out our own terms.   Plus there was no brokers commission.   One of my realtor customers is also a business broker and we're supposed to get together.  With COVID on the wane, I hope to meet him farily soon.  Maybe one of your customers is a broker as well as a realtor.

 

I suggest that you reach out to SCORE and get some free help.   SCORE is part of the SBA and it's all free and the people are eager to help you.   Eventually I am going to have to sell and have been doing monthly zoom meetings to go over that subject, plus lots of other "stuff".    I'm now 63 (and wish I had contacted SCORE thirty years ago) and figure I can afford to retire in another 35-40 years.  :)     Go to the SBA website and search for what you want and they'll match you with someone.

 

I'm in the local chamber of commerce and another business owner told me that it took him 3-4 years to make one of businesses "bankable" because most buyers don't have the cash to buy you outight.   They will have to go to a bank for a loan so all your books, inventory, etc. will have to be set up so a banker can understand your business and approve the loan.   I'm supposed to catch up with that guy and get more details but we never seem to be at the same meetings.   Again, SCORE will have people who can give you better information than "some sign-guy on the internet".     What I can say that I've been upgrading equipment, having things serviced professionally, keep the trucks on regular maintenence schedules, etc.    When I bought the business, most everything was old and run down but I was used to it and knew what needed to be replaced right away and what could stay.   No one will want a business where a lot of equipment is close to the end of it's useful life.   "New and Shiny" sells better than "old and dusty" even if the old stuff is better than the new.

 

Best of luck!

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