You might be nearing retirement age, you might be feeling like you’d like to do something else or maybe you are just burned out. Whatever your reasons for thinking about selling your business – what’s the most important thing you should know? There is no such thing as the perfect time to sell.
You might have been waiting for the small business market to improve, you may have some magic set of numbers that your business has to hit, you might be waiting until you reach a certain age – all of these may seem like good timing and the right things to wait for.
The truth is, however, there will never be a “best” time to sell your business.
Even the best laid plans get pushed aside for reasons no one could anticipate. We see it every day. Sudden health issues for an owner or for a close family member that will require too much time and energy away from the business. A large competitor suddenly moves right down the street. The economy swings. A wave of baby-boomer business owners flood the local market by all suddenly deciding to sell.
By waiting for the “perfect” time to sell your business, you are instead setting yourself up for a situation could be less than ideal and may even force you to take a much lower offer than you would normally have considered – simply because your situation means you have to sell now and can’t wait for something better.
What to do instead? Talk to us about your current situation and the current market in your industry. Now may be a better time to sell than later, but it depends entirely on your business and your goals for selling.
The reality? A wave of baby-boomer owners will shortly be flooding the market, switching our current seller-favored climate to one that favors buyers (think less money for you). The economy is currently great, but it was also great in 2007, and look where that took us (the business market was hit just as hard as everything else during the most recent recession).
Don’t wait for perfection that doesn’t exist. Call us today.
12995 South Cleveland Avenue, Suite 249
Fort Myers, FL 33907