How to Sell Your Printing Business
Two questions any print shop owner will ask themselves at some point:
- When do I sell a printing business?
- How do I sell a printing business?
You have more options than you realize, and it may even be possible to get a fair price without paying a commission on the sale.
When do you sell a printing business?
If you are within two or three years of retiring, timing cannot be a determining factor if you have a viable buyer presented to you. Your ideal time may not produce an ideal buyer. It is important to entertain your options and consider selling to an ideal buyer instead of waiting.
Buyers are not always easy to find and it takes a lot of time and energy for the buyer to go through the process that leads them through your door. Then your business also has to check all of the right boxes for the buyer just to get an offer: the location has to be close to their home, your price needs to be within their range, and your financials need to fit their criteria.
So why sell your printing business sooner rather than later? In a recent BizBuySell Insight report, businesses that were sold in the second quarter of 2019 closed for a record-high median sale price of $270,000. This sale price represented a significant 13% jump from the same time last year, according to the report.
“With a strong economy, sales for most print business owners are up. That is the best time to get the most money for your business, and if one is thinking about retiring, this is the time to do it. Putting the sales process in the hands of someone with printing industry and sales experience is the only way to accomplish that,” says Jeff Robey, Regional Vice President for Minuteman Press International.
How do you sell a printing business?
By learning how to sell your printing business now, you are doing so from a position of strength. You don’t want to wait until the last minute for something as vital to your future as the sale of your business. After all, you have worked hard to build your client base and grow sales. The last thing you want is to do is wait too long and be forced to sell your printing business at a time that isn’t ideal for you. In addition, you should consider selling your printing business when there is a qualified buyer rather than waiting until there are no buyers available or when economic conditions are unfavorable.
You could try to sell it yourself while running your business.
This may sound like a good idea and you might think you can save some money. However, it will take time away from running your business. You’ll also need to place ads, set a budget and field the enquires. Let’s face it, how many businesses have you sold on your own?
You could contact a business broker who can assist you in many of these areas.
Business brokers represent a wide variety businesses and franchises. They will handle everything from advertising your business, to qualifying and screening potential buyers. However, they make money on commission from the sale of the business, and they typically have no obligations after the sale is made. The new owner will usually rely solely on you to provide the training and support.
You could partner with a printing franchise to sell the business.
A franchise can open the door to a much larger audience of potential buyers than a broker because franchises offer training and support, so buyers will not need to have prior experience. Additionally, franchises are often able to provide financing options. They are able to coordinate the transition of the business by providing training and support to the new owner. An independent print business partnered with a franchise is usually a much more attractive option to a buyer than an independent printing business.
Whether retirement is on the horizon or you simply are looking to move on, it is important to weigh your options and learn how you can sell your print shop commission-free.
Minuteman Press is the world’s largest printing franchise and has specialized in finding qualified individuals to buy and operate printing businesses for over 40 years. Our unique business model, training and local ongoing support attracts individuals from all walks of life. We are seeing high interest from new potential franchisees.
How can we help sell your printing business at no cost to you?
For qualifying independent print shop owners, Minuteman Press will:
1) Attract potential buyers through local and national marketing campaigns
Minuteman Press is a top rated B2B franchise that offers a proven system and method of business. Our owners benefit from proprietary pricing and management software, internet marketing programs, choice vendors and mass purchasing power, a royalty cap, product research and development, and local ongoing support. All of which will make your business a much more attractive option to potential buyers.
2) Qualify prospects and assist in obtaining financing
Our experience in attracting qualified buyers and being able to offer financing options saves time and removes additional tasks that you would normally need to do on your own. Minuteman Press is a proven brand in franchising. A profitable printing business converted to a Minuteman Press franchise will be in high demand.
3) Assist in coordinating the sale and transition to a new owner
We have a dedicated local support team that will assist with a smooth transition during and after the sale of your printing business.
4) Provide training to the new owner and support them in business
Most independent print shop owners sell their business to another printer or someone with industry experience. Because Minuteman Press offers full training and ongoing local support, we can essentially sell your business to anyone. With local support offices, we have successfully put those without industry experience into business. This means that when someone buys your business, we will take care of all of the training for you. Our unique capabilities open up the pool of prospective buyers and assure the business and your customers will be in good hands.
5) Ensure the legacy of your business by continuing a high level of quality and service
Because of our ability to train and support the buyer, your clients will remain in capable hands, and your legacy of providing excellent quality and customer service will live on even after the sale is made.
Learn about your options today! There is no obligation. We are happy to discuss how we can help you sell your printing business. We will also do a free valuation of your business, and all inquiries will be held in strict confidence. To receive more information on Minuteman Press, please call 1-800-645-3006 or click here and fill out the contact form on this page.
This article is written and sponsored by Minuteman Press (https://minutemanpressfranchise.com/)