When’s The Right Time To Sell A Business?
Zach Dogar, a business broker in the UK, looks at timing. Is there ever a good time to sell a business? Should the economy and market conditions guide the decision? Or the stage of growth of the business?
Why do business owners decide to sell their business? What are the main driving forces when such decisions are made? When should you sell?
Some entrepreneurs have an exit strategy in place from start up, whilst others have owned family businesses for generations and it has become a part of their identity. Some business owners have lived off the business for many years and wish to secure their financial future and retire. Ill health often enforces a sale, as do changes in lifestyle and circumstances. Business owners decide they want a change, or decide to prioritise other parts of their lives which seem to have been affected by the time and effort involved in running a business. Others sell if they are not receiving the anticipated rewards, or feel that the insecurity of operating a business is not for them or they have simply not been able to make it suit their lifestyle. More here