Many business owners have watched with hopeful optimism the return of the economy to near pre-recession levels and have reaped the benefits of the return of customers and clients who are able to afford the extras that were cut from many budgets a few years ago.
For many business owners who survived the tough economic times, the question of when to sell may have entered the conversation.
When is the best time to sell your business? Now that there are buyers with money and customers to boost your numbers, you may have wondered how long you should keep your business. If you wait another 6 months, two years or longer, will the economy and your numbers continue to improve thereby giving you a better return when you sell?
The decision of when to sell can be a tough one. There are many things an owner must weigh when deciding when to list, like years until retirement, health and personal issues, the strength of the economy – the list goes on.
If you think you may want to sell sooner than later, then a new statistic may help give you the push you need to get your business listed sooner. In recent months more than half of all new businesses that were listed on the market were owned by baby boomers. With the greatest generation poised for retirement, there are going to be many business owners looking to sell.
If you want to catch the wave early, thereby entering the market in a better position – where there are more buyers than sellers, now is the time.
Talk with your business broker about the state of the market for your particular industry. They will be able to tell you what comparable businesses have sold for recently, they will know if there are buyers currently searching for a business like yours and they will be able to help you decide if now would be a good time to get your business out there in front of buyers.
If you’ve thought about selling, but have questions about timing – now is the time to ask! Please feel free to leave us a comment or question here, and we will be happy to assist you with selling your business.
1910 Park Meadows Drive, Suite 202
Fort Myers, FL 33907