Selling your business will be one of the most important financial transactions in your life. It’s critical to carefully evaluate your goals and objectives when selling your business, therefore in this blog we will take a closer look at the top reasons for selling your business.
Timing
The first and most important factor in making the decision to sell, is timing. When it’s ideal to sell? Ideally you will have developed an exit strategy ahead of time and your decision to sell will be based on key performance indicators that your business has achieved or specific life goals. A planned sale will be the best possible outcome for the sale of your business, and puts you in the strongest position.
That said, life happens, and sometimes you may need to sell the business ahead of your planned exit strategy. For example, an illness may necessitate the sale.
Lost Passion
When a business owner has lost passion for their business it might be time to consider selling. Without passion a business will not perform optimally, and it get’s more and more difficult for the business owner to get up every day and apply themselves to the task of growing their business. They may have already had ideas about a starting a new business or moving to a different area.
Obligation
Are you still running the business just out of obligation to another party, maybe a business partner, or even a parent who you inherited a business from? If you’re not personally invested in the businesses growth and success, things start to become mundane and stale, and you find yourself wishing you were doing something else. On the flip side it could even be that you don’t want to burden your children with your business and would rather sell the business now to give them the freedom to forge their own path.
Control
Does your business feel out of control? Do you feel like your working just to pay the IRS, insurance companies, or your employees, with little in it for you? Possibly government regulations and policies have made it harder to run your business, or in some these policies could improve your business’ prospects and you might want to sell now to capitalize on the availability of business looking for a business like yours.
Money
The impact of money to a business owners decision to sell may take many forms. It could be your business has done well and you are ready to capitalize on your success. Or maybe the business is not making enough money to support itself and you and your family, so you decide to sell to try a new venture. Alternatively, it could be that the money has become less important to you, and you’re looking to improve your quality of life, take more vacations, spend more time with family etc.
Life
Retirement, Health, Divorce, Death, Lawsuits and more. Businesses are impacted by major life events and sometimes the business has to give to accommodate changes in your health, the death of a key employee, or settlement of financial obligations created by divorce.
Opportunity
You may have the opportunity to start a new venture, one you believe can yield greater results, however to take advantage of such an opportunity you may need to sell your existing business to free up the capital or time require to make the new opportunity a success.
Why work with a business broker to sell your business?
When the time comes to sell, you are going to need an experienced business broker who will help you get the best price and terms, and market your business properly to find the best qualified buyers. Denis Berger is a Florida Business Broker with over 25 years of experience. He is an expert in helping companies of all types and sizes attract qualified buyers for the sale of any business.
As a Florida Business Broker operating in South Florida, Denis adhere’s to a strict code of ethics in the processes of buying or selling a business. Denis Berger, can help you get a clear idea of the honest salable value of your business in today’s market place and provide many strategies for accomplishing this task.
Call Denis Berger at 561-676-7601 today or Contact Us, to get started with the sale of your business.
