Would you like to sell your business and receive the highest price possible?
Of course you would.
But is your business ready to sell? And are you prepared for it to sell?
Currently, 80% of businesses listed for sale never sell.
A large percentage are over-priced because the owner did not obtain a professional third party valuation. But the biggest reason that the majority of businesses don’t sell is because the owner had no strategic exit plan before taking the company to market.
Contact me today at 208-286-2300 for a confidential, personal discussion about selling your business and maximizing the sales price.
With over 5,000,000 Baby Boomer business owners between the ages of 52 and 70 planning to sell their businesses and retire, it’s important to make sure your company is sell-able to the right buyer. The right buyer may include a family member, key employee or a third party. But if you haven’t determined who the best buyer is, you won’t maximize the value and you may not sell your business at all.
Don’t be one of those who just hope to sell someday. Hope is not a strategy. It’s just wishful thinking. With an exit plan, you can maximize your sales price and keep more of it, while you create options for your next adventure. Wouldn’t you prefer that your business be one of the 20% that do sell?
Exiting your business doesn’t have to mean retirement. Doing it right gives you the freedom to follow your dreams…..travel, write a book, start a band, or run a non-profit. Whatever it is you want after you sell your business, you can get there from here. Let’s get started. Contact me today at 208-286-2300.
Take this free on-line assessment and find out how close you are to your best exit. It takes only 15 minutes and could be worth a fortune. You will receive an email with your results.
You may be surprised to learn that if you want to sell your business, there is about a one in five chance of actually achieving that goal. Even with strong financial performance, sometimes businesses with less than $1,000,000 in revenues don’t sell.
According to BizBuySell, the largest online business-selling platform:
only 20% of all of the businesses listed for sale ever sell,
roughly 50% of the deals agreed to between buyer and seller never close,
only 10% of sales are handled by business brokers
The last fact may explain the first two!
Buyers want to purchase successful operating companies. Buyers will pay higher multiples of earnings for companies that have a sustainable and repeatable cash flow stream, documented procedures and are staffed by competent and loyal employees.
As a business owner, you may have one or more choices when it comes to exiting your business. You’ll either pass it on to a family member, sell it to a third party or shut it down. Generally, your business will have a different value in each of these situations. Isn’t it a good idea to know how much your business is worth now so you can decide which choice is best for you when the time comes?
Recently, I spoke with a business owner with a 20-plus year track record who is considering a sale of his business. In his opinion, he has two options. One option involves selling to a family member. The other possibility is to sell to a larger company. I explained that one choice might bring a higher value. And the important thing to know, is which one.