I’m NOT Ready, Why Contact a Business Broker now?

I’m NOT Ready, Why Contact a Business Broker now?

By Diana L. Miles, ABI

How about a real life story for an answer?

A couple of years ago, a business owner told me he wasn’t ready yet but realized he was no spring chicken and would need to sell in the not too distant future. He wanted to know how much his business was worth at that point in time. Once we completed the Market Price and Proceeds Analysis for him, I could see some disappointment on his face. He had a great company and had poured his life into serving his customers, employees, and community. So we took things a step further right there on the spot by looking through a different lens and beginning with his target exit price and backing into what the revenue and seller’s discretionary earnings needed to be to command such a price.

The result?

Two years later we again ran his Market Price and Proceeds Analysis. This time he exceeded his target exit price, we listed his business, and he sold it for nearly 100% of the asking price.

His story is not uncommon.

Your exit will likely be the most lucrative transaction in your life thus far.   Get to know your advisor well in advance.