As an executive advisor and business broker, I’ve seen owners sell their companies for a wide range of reasons, most of which are personal.
Personal Reasons to sell your business
- Ready for retirement
- Health Issues
- Burn Out
- New Career Passion
- More Leisure Time
Financial Reasons to sell your business
- Need the money
- Want the money
- Can’t keep up with debt obligations
- Can’t keep up with current or future capital demands
- Pressure to cash in from partners or debtors
- Tax ramifications
- Large pending Capex investments
Market Reasons to sell your business
- Economic Trends
- Trends in your business
- Trends in your industry
- Market share
- Growing competition
- Demand in the marketplace (interest from competitors)
There’s always a possibility of receiving an unsolicited offer that is strong enough to get you thinking, “am I ready to sell?” Or “is this a fair valuation?” In that situation it’s still worth seeking help to make sure they’re offering a fair valuation for your business and help negotiate on your behalf.
Any or all of the reasons listed above can make it the right time to sell your business.
At the end of the day you’ve put hard work, and your “blood, sweat and tears” into your business and regardless of all the motivating factors, it’s a very personal decision and I am sensitive to that here to help support you in that process and big life change.