Business Broker

The Best Time to Sell Your Business

Many experts say that the best time to sell is when the business is better than it’s ever been.  However, basking in success prevents many business owners who would benefit greatly from selling their business from doing so.  Why sell when business is booming?  You just survived a few years of mediocre business, and now the experts are telling you to sell?  Right or wrong, the decision to sell is generally spurred by life events.  For example: declining health, a partnership break-up, personal issues, too much competition, family member elects not to get into the business, etc.  Retirement sounds like a good reason, but time is irrelevant in the immediate, unless a seller has made the decision to retire early. Even in those situations, when the seller realizes that he or she will have nothing to do to occupy their time after a sale, the idea loses its appeal.

However, one thing that a seller can do, without creating any pressure about selling or not selling, is to take a bit of time every year and prepare.Make sure financial records are current and complete;any leases reviewed and renewed; any litigation is resolved, if possible; licenses and permits updated;and agreements and contracts renewed and updated, if necessary. It may seem tedious, but it is absolutely necessary if you plan on selling your business soon or even someday.

By doing this, if a potential sale comes out of nowhere – you’ll be ready. Let us help you get ready! Contact Broker Matcher today!

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