Selling your business can seem like a summit you are unprepared to scale. The question, “Should I sell my business? If so, when?” presents one of the most significant choices a business owner will ever make. For most business owners, they have built their company themselves and invested the majority of their lives in growing their company. The thought of letting go and preparing to sell your business can truly shake a person. Overcoming the emotional toll that it potentially can have is often the hardest thing the business owner will have to do. You should sell your business to maximize the value you can get out of the business while setting yourself up well for your next chapter of life personally. If you can overcome the emotions associated with selling, determine that there is significant value to be sold, and determine what you would do after a sale, then you must turn your attention to the second half of your question – “When?”
Here are the top 4 questions to ask yourself once you are wondering WHEN you should sell your business:
- Is this business now too big for one person? Has it outgrown me?
- Is the market moving against me or for me? Where is the industry headed?
- Are my financials healthy? Is there an upward trend with turning profits and performing well?
- Am I ready to retire? Am I emotionally ready to sell; can I let go of my baby?
If you have answered yes to any of these questions then this may be your cue to seriously consider selling your business and capitalizing on what you’ve grown. Each business has a unique personality, which is a reflection of that owner. Regardless of why you might be selling your business, before selling the business, a responsible business owner will protect themselves and company by investing in a professional business broker who can clearly identify the fair market value of their business. This not only protects you, but also your family, existing employees, peace of mind, and future financial prosperity.
Contact Bridge Mergers and Acquisitions to learn more about our services and to schedule an in-person, no obligation meeting with one of our professional experts. For more information, please visit www.BridgeMergers.com or our blog, https://bridgemergers.com/blog/ we can also be reached by phone at (704) 488-4292.