Is Now the Right Time to Sell a Business?
| February 2023
Change can be a great thing if you prepare for it. While the post-pandemic times have certainly made us all re-evaluate our lives, work, and priorities, feeling inspired to make a move needn't be an unsettling prospect. Selling your business is no small feat, but with proper exit planning and some trustworthy guidance, it can simply be the next step along your entrepreneurial journey.
If you’re thinking about selling your company, you’re not alone.
According to this survey, two-thirds of wealthy business owners want to sell their businesses as a result of the pandemic. Citing wanting to spend more time with their families and uncertainty around taxes, there's a trend afoot that is leading entrepreneurs to change their minds about what they had planned for their futures. For those who have been successful, now is increasingly becoming the time to monetize their businesses and move on.
The market is ripe for buying and selling businesses. Despite the changing landscape, we are all operating in today’s world. The evolving fallout from COVID-19 negatively impacted many industries, but even businesses in beleaguered sectors still saw themselves successfully transition their company to new ownership with the help of a business broker.
According to an IBISWorld report relating to the U.S. business brokerage industry, businesses that were negatively affected by the pandemic were still successfully sold, and brokers played a critical role in securing the right buyers for their business sellers.
Whether you’re ready to sell today, need a little more time to build your business for exit, or are even looking to buy another business to add to your portfolio, we are here.
It all starts with a valuation.
You needn’t have all your financials set or a strong plan in place– that’s where a broker can come in and help you cut a path that suits you and the needs of your business.
Knowing the true value of your business is actually your first move toward an empowered future. Your initial valuation will also serve as a benchmark to know if it’s truly time to plan your exit. Let our team help you manage the details and the busy work, so you can focus on what's important to you: your life and your business.