posted
yep, thats right i'm selling the sign side of my business as its just grown too big for me to do it all as well as all my custom airbrush stuff so one had to go and as airbrushing is my passion i'm going fulltime airbrushing. This has "almost" happened a few times before and I have had many offers n the past (airbrush related) that I hadent taken up, but this time it just seems right. I really hope I can get someone to buy my sign shop business as its been increasing in turn over every year and my profit margin is exceeding my expectations every year, but its just killing me. I have looked into putting on workers like i have in the past but this time after over 26 years painting signs i think its time for a change. How have others gone about selling there businesses, as I know this isnt going to be easy. I dont want to just walk out as its a great little business in a great little country town and making too much money to just shut the doors. So, here it is.... come and get it!
I look forward to your thoughts.
Cheers! Rod Tickle
-------------------- Rod from, EAST COAST AIRBRUSHING "Airbrush Art & Graphics" Nambour; Sunshine Coast, Queensland. Australia E.mail: rod@rodticklesigns.com Web: www.rodticklesigns.com Posts: 635 | From: Nambour, Sunshine Coast, Queensland | Registered: Dec 1998
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posted
Reality would dictate a P&L for the past three years, tax records, current related financial statements and a show of production for the past year for me to be a serious buyer. I'm not, of course, but its what I would require before buying any small business. I wish you good luck with it. Persuing your dream is a good thing.
P
-------------------- Pierre St.Marie Stmariegraphics Kalispell,Mt www.stmariegraphics.com ------------------ Plan on knowing everything before I die and time's running out! Posts: 4223 | From: Kalispell,Mt 59903 | Registered: Mar 2000
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posted
Rod, I just checked in with only a few minutes to spare... but just like fixing a car or a house is always well worth the investment before selling... I think you might want to consider an extensive amount of preparation for the sale that I don't know enough about your business to know if you have already done, so I'll mention it here.
So many signshops are centered around one talented individual, who is the owner. You are the business, & without you, there is not much to sell. Of course having a known name & repeat customers IS worth a lot... but only IF someone else can step in & keep it going.
If you don't already have the manpower & the division of labor structured so that the shop can run without you, I would suggest you spend the next 6 months to a year making the rerquired changes that would result in a shop that is successfully handling the bulk of the work without you. You could be ramping up the airbrush side of things... under a different business name & license & on a different set of books... but you are still there (or nearby) to facilitate the more gradual transition of dependance on your knowledge, your talent, & your clients expectations for always dealing with you.
If you already have things set like that, then disregard the above... but if not, I think it would be work that could increase the value of your business & the price you could expect to get by an amount well worth the time spent structuring it like that.
posted
Hi guys, i appreciate your input. Yes i have gone into this with both eyes open. I have been looking into this for quite some time and have done as much home work on this as i can. I have my business records etc for the last 3 years to show serious buyers and each year is increasing in both turn over and profit margin. I have also been told about the business being hard to sell as its me most people want but the amount of files, client base, equipment etc is a very big head start into the sign game. I dont expect someone with no experience to buy, and hope for someone who is wanting a seachange and wanting to take this to the next level. Its not that I cant handle the work load of the sign shop alone but combined with all my airbrush work i'm finding it hard to do juggle. If it was just signs it would be easier to control but i'm chasing a dream as well. I'm not just dropping the ball coz its getting too hard, I'm doing this for diferent reasons so like to think of it as passing the ball on to someone else to run with it. I have many ideas that could benifit the new owner as far as direction and whats needed. I'm also flexable to help with designs and custom work if needed to keep up the "look" i'm known for. I have a few options, but selling the sign side is the first step.
cheers! rod
-------------------- Rod from, EAST COAST AIRBRUSHING "Airbrush Art & Graphics" Nambour; Sunshine Coast, Queensland. Australia E.mail: rod@rodticklesigns.com Web: www.rodticklesigns.com Posts: 635 | From: Nambour, Sunshine Coast, Queensland | Registered: Dec 1998
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posted
I wonder (aloud) if you couldn't get a person with half as much talent as yourself to run that side of the business. I used to think my business was all about me until I hired people who were just as good or better at certain aspects. Now as a team we're a better agency than myself alone. And now the business is worth a helluva lot more because it isn't all about me anymore.
If it's pulling in as much as you say, I can tell you that you'll might even make more money having a good crew run that line of business.
But it sounds like you've decided and thought this out - and I really wish you the best---
"Some are born to move the world, to live their fantasies. But most of us just dream about the things we'd like to be." - Rush Posts: 1192 | From: Washington, NJ | Registered: Feb 1999
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posted
Exactly. I sold what was left of my business after the sotrm. I got a fiar amount and paid of all what was owed and came away with a little bit for me.
But as they said above,, The bizz was centered around myself. So i didn't get nearly as much as it was worth... A good point is the new owner doubled the bizz after just a few weeks. He sold his other less profitable time consuming bizz. The fruit was there. He picked it.
-------------------- Leaper of Tall buildings.. If you find my posts divisive or otherwise snarky please ignore them. If you do not know how then PM me about it and I will demonstrate. Posts: 5274 | From: Im a nowhere man | Registered: Jul 2001
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posted
Hey Mate, Wish I had a big ball of cash on me right now I'd be down to help you out. I think we'd make a heck of a team down there...sling some wicked paint we would!
I hope you find someone to take over the sign business side of things if that helps make the rest of your plans take flight. If there is anything I can do to help out let me know.....even if it's coming down to help for a couple years!
posted
Hiya Rod, My first thoughts were in line with Dan & Curtis. Heck, you already have an offer to make it happen too. Just out of curiosity, did you consider talking to Mike Lavallee to see how he took his business to the next level? Maybe he can offer some additional tips or pointers.
Havin' fun,
Checkers
-------------------- a.k.a. Brian Born www.CheckersCustom.com Harrisburg, Pa Work Smart, Play Hard Posts: 3775 | From: Harrisburg, Pa. U.S.A. | Registered: Nov 1998
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My partner sold his sign business to another sign guy. He made a 'deal' with the new owner, to work with him for a year on an as needed basis. During this year, the guy needed help learning new equipment as well as 'how-to' build certain projects involved in his new client base. And, there was a no compete clause for a specified amount of time.
Good luck to you!
Cher.
-------------------- Co-Host: SANDCASTLE Panel Jam 'a Dixie Letterhead Reunion' Fort Myers, Florida
Cheryl Lucas a/k/a "Shag" on mIRC Vital Signs & Graphics, Etc. Cape Coral, Florida 239-574-4713 VSignsNgraphics@aol.com Posts: 987 | From: Cape Coral, FL USA | Registered: Aug 2000
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posted
Jeff Crank out of Redding California done just what you propose to do just recently. But what he did was he sold his phone number for an amount I wouldn't even try to discuss here, then he sold his equipment and next his building which you could imagine what a 2 story 7000 sq ft. shop, showroom and a parking lot would sell for on a main thoroughfare in a northern California city. Jeff was only at this shop for five years but has a following of twenty being in Redding. I know Rod will know what I'm speaking of when I say that vehicle artists can go anywhere and make at least double their best years earnings just by the caliber of work that they do.
Rod, I mentioned this as food for thought and although many will advice you on more of a conventional way to sell your business, this is just ones outlook and how it worked out for them. Rod, you can email me and I'll get you in touch with Jeff which may help you with a different prospective.
Respectfully, JM
-------------------- HotLines Joey Madden - pinstriping since 1952 'Perfection, its what I look for and what I live for'
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