Reasons to Sell Your Business When Things are Going Well
So you’re running a business, and things are going great. You’ve got loyal customers and a solid team, and your company is consistently seeing growth. If this is the case, then why would you sell your business?
“When trying to sell your business, it’s important to remember that the buyer will look at the numbers. Potential buyers want to know if it’s a good deal for them—you may think that it’s better to wait until the business has hit some sort of plateau or taken a turn for the worse,” says business strategist and consultant Lincoln Beck from Biz Hero Online.
Here are great reasons to consider selling your business when things are going well:
1. Better Valuation of Your Business
When buyers look at a company that’s successful and doing well, they know they’re getting an opportunity to be involved in something already proven.
As a seller, you want your business to be attractive for you and future buyers, and the fact that your business is thriving and going strong can help you with your odds of attracting more buyers to your table and potentially higher bids.
2. Minimal Risks
Selling a business that could be doing better can present several challenges: you may need help finding buyers, and even if you do find one, they may not be willing to pay as much.
But when you’re selling a healthy company, there will be plenty of interested buyers who want to invest in something that’s already successful.
3. Chance to Start a New Venture
True entrepreneurs always have new business ideas that they know have significant potential and may want to try out that vision. Selling your successfully established business can help secure funding.
You’ll have enough capital after the sale to invest in another business or purchase other assets without taking out a loan or incurring additional debt, allowing you to focus more on your new journey rather than worrying about financing.
4. Do What Matters to You Most
When you sell your business, when things are going well, you’ll have an easier time getting settled, and you can put all of your focus on the things that count most to you in life.
You can do more of what makes you happy and less of what doesn’t. Selling your business can be a fantastic opportunity to focus on your priorities and enjoy life as it is—not just because of the money!
Seize the Opportunity to Sell Your Successful Business
The bottom line is that it’s a great move if you want to sell your thriving business. If you’re having a good year, that’s great—but it doesn’t mean that you can’t also think about the best time to sell and what’s next in your entrepreneurial journey.
At Summit Business Brokers, our team is here to help you navigate the daunting process of buying and selling your business and ensure your profits are sky-high.
Call Andrew from Summit Business Brokers today at 0418 676 400 to learn more about our services!