# Selling My Business



## allprint (Dec 18, 2007)

We are looking at selling out Screen printing and embroidery business.. Where would be the best place to list it that will get results..


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## charles95405 (Feb 1, 2007)

If the business is successful, why not list with a business real estate broker? But first outside of equipment, store lease, what do you really have of value? Do you have ongoing contacts or customers that will repeat? Often customers are based on personal interactions and not easily transferred.


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## binki (Jul 16, 2006)

List with a business broker. A premium for this biz is 2.5 times net plus FFE


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## johnchesley (Jan 26, 2008)

Please forgive my ignorance binki.... What is FFE?


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## royster13 (Aug 14, 2007)

Furniture, fixtures & equipment.......


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## GraphicGuy (Dec 8, 2008)

I've sold several businesses and listed them with business brokers. I was charged a flat rate of 10% of the sale price by the broker. Don't fool yourself though. When I first started selling businesses I thought they were worth a fortune but, the reality of the situation sets in when I got with the broker and had several people looking at the business and found out they were worth less than I thought.
My head was in the clouds because all the work, time and money I've put into it (sweat equity does not count) unfortunately!
Do you have contracts signed with customers? This will be a big thing for the prospective buyers, guarantees of income after the sale. How many other businesses like yours are in the area? How old is the equipment? What is the depreciated value of it? How old is the software and computers? Do you own all the equipment are there leases on some? Is the property and building part of the sale or is it a lease situation? If it's a lease is the lease transferable? Will the landlord be willing to lease to the new owners? You will have to talk to your landlord about this, sometimes they are gun shy about leasing to someone who doesn't know how to do the business they are buying because they are afraid they will go out of business quickly. I've sold 3 screen print and sign shops, of those 1 is still in business 10 years later and the other 2 went out of business with in their first year. Will you be offering training with the new buyer? If so, for how long. There will probably be a no-compete clause in the sale contract where you can't open another business doing anything like the one you sold for 100 miles of the old business (or something similar).
I'm not trying to rain on your parade, these are just questions and things that will come up.
Good luck to you. What are you going to do next? What's your plans? Heading for sunshine???


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## binki (Jul 16, 2006)

Don't forget that if you live in a State that charges sales tax you may have to collect it or report the sale to the State so they can charge the new owner for the transfer. If you use a broker, they should know if this is required or not.


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