Selling my business... Need help

[renegademobiledetailing]

Hey guys!
I am getting out of the detailing business. I have been doing this for a close to 3 years now. So my question to you guys is what do you think this all is worth? And also how should I go about to find a buyer? I'd preffer selling it to somebody that KNOWS how to detail, considering they would be handling my clients and all.

Net Income for a year it 42k-46k, working a little more than part time. I typically work full 3 days a week.


I have over 12k invested, not to mention my time.

But here is what is included:
-2005 Black 6x12 Enclosed trailer with vinyl graphics (company info).
-125 Gallon Water tank, strapped down, and plumbed
-Electric Water Pump, so you don’t starve your pressure washer!
-Mytee Lite 8070 heated carpet extractor
-Troy-Bilt 2500 PSI Portable Pressure Washer
-Troy-Bilt 3250 Watt Portable Generator
-Craftsman 12 Gallon Wet/Dry Vac & Blow 5.0 HP
-Cyclo- dual head polisher
-Makita 9227 High speed Polisher
-Porter Cable 7424
-Tons of Detailing Tools (Buckets, Rags, Polishing Pads, Chemicals, Brushes, Hoses, Bottles, etc.)
- “A- Frame” sign to get new clients!
-2 small Ladders
-Small Aluminum work stand
-Supply of High End detailing chemicals
And….
-Flyers, we have hundreds of flyers printed to advertise!
-WEBSITE! Auto Car RV Detailing Services By Renegade Mobile Detailing Mesa Arizona
-Custom online ads made for Craigslist and other online advertising companies
-Custom made water bottles that have our Company Logo on them
-3 very eye-catching, professional advertising banners
-Phone # you get the business phone number! 480-980-6227
-Logo
-Clients book- all existing accounts
-Proof of work, You can see our old invoices.

Let me know what you all think is a fair and REALISTIC price for this business. Also any ideas of how to find a buyter would be great. Thanks!
-Cory

[NotZeroSix]

I think you would have better chances of selling everything separately. Not everyone can spend >$25k of what you got there.

[renegademobiledetailing]

I had a guy come check it out today. It would just be stupid to sell out all my tools. I have established a very good name here in my area and we get a lot of business.

Tomorrow I am going to go talk with a business broker and see what my business value is worth and also get it up for sale and what not.

We will see how it goes. Thanks for the reply.

[TheGLL]

Good luck with you next project/plan.

[f150smith]

As far as a fair price for your business I would suggest you contact your accountant, if you have one, or seek out an accountant that specializes in business valutation and appraisal. They can reveiw your tax returns, help you value the inventory, value the goodwill and project out what the income potential for a prospective buyer would be. It is like having your house appraised. It might cost you several hundred dollars but you will have something in writting from a third party to present to a prospective buyer. Once you have this in hand you can market it thru various local publications and even some real estate offices have people who specialize in business sales. This route will obviously cost you a commission. Another thing you need to consider once you have a buyer is financing. Most banks are very reluctant to provide financing for a small business that exceeds the the current value of inventory. This could require you to carry a note for the remaining balance of the sale price which would provide you with monthly payments and could help spread your tax liabilty over several years. All of this will require a lawyer and legal documents to protect you in the event of nonpayments.

While I am not an accoutant or lawyer, I was a partner in a business that we sold several years ago and found that selling a business is a hell of lot more compicated than selling a car or even a house.

Hope this helps.

[WindyCity]

Just interested in why are you selling a great money making part time business?

I would think that it would be difficult trying to sell it whole. I probably would try to sell it individually but that is a real hassle trying to list, deal with different people, shipping ETC. Why dont you try to sell it whole for a while and if no luck then part it out?

[MisterShark]

No desire to get whatever it is you intend to do full time & keep thd detailing biz running as a side gig? I work full time as a network support tech and have a part time side biz making custom poker tables. My table contracts come in drips and drabs but I call the shots with my schedule: if I'm overly busy with everything else going on in my life I simply give a perapective table client a later estimate for time of completion. If it doesn't work for them then I try to refer the job to my friend who also builds tables. I don't bust my ass with unkeepable production deadline and hence am able to take the extra bucks from the side gig as it comes.