Best Time to Sell Your Business?
TM Business Brokers Raleigh – Best Time to Sell Your Business?
The best time to sell your business is when the business is better than it’s ever been. This may be good advice, but few follow it. Why sell when business is good? You just suffered through a few not-so-great years and now the experts are telling you to sell? Right or wrong – good or bad – the decision to sell is generally event-driven. For example: declining health, a partnership break-up, personal issues, too much competition, family member elects not to purchase the business, etc. Retirement sounds like a good reason, but it has no time pressure, unless a seller has made the decision to retire at a certain age. Even then, when the seller realizes that he or she will have nothing to do 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 – just in case. This means tying up loose ends. Make sure financial records are current and complete, leases reviewed and renewed if necessary, any litigation resolved if possible, licenses and permits updated, agreements and contracts renewed and updated if necessary. You could call this eliminating the surprises, and you could also call it good business.
By doing this, if a potential sale comes out of nowhere – you’ll be ready.
We have a strong backlog of buyers seeking all types of companies. Contact TM Business Brokers Raleigh to learn whether or not you have a sellable business. Do not make the mistake of relying on an adviser who does not sell companies for a living. You may be delaying the sale of your business for the wrong reasons.
Now may be your time. Contact the experienced professionals at TM Business Brokers Raleigh to confidentially discuss “your” situation today!