should-i-sell-my-business

Should I Sell My Business?

Most business owners reach a point where they ask themselves, “should I sell my business”? This is a perfectly reasonable question, and there are in fact many benefits that one can experience from selling the business you have built.

Bronwen Barnard

08 July 2022

Summary

Most business owners reach a point where they ask themselves, “should I sell my business”? This is a perfectly reasonable question, and there are in fact many benefits that one can experience from selling the business you have built.

In this article we will discuss why selling your business can be a good idea and when you should sell your business.

Why Would You Sell a Business?

Selling a business is often viewed as an act of desperation; however, in actuality selling your business can be a great financial move and can ensure that you stay motivated and challenged. Whether you are ready to retire or are looking for a new venture, there are many positive outcomes to selling your business, but it is important to sell your business at the right time.

When Should a Business Sell? 

Although there are many signs that will indicate when it is the correct time to sell your business, it is widely agreed that one should sell when your business is at its peak of success. It is less advisable to sell your business when it is declining in success as this will yield a much lower price than what it is currently worth. Some other signs to watch out for when questioning if it is the right time to sell your business, include:

1.    Your Business Has Exceeded Expectations

It is entirely possible that you started your business, grew it to a point that you felt comfortable with, and then experienced the phenomenon of your business becoming too large and successful for your personal ideals. Perhaps you have recruited a team that is so skilled and driven that they keep growing your business and it has gotten to a point that your business does not provide you with excitement and happiness anymore, but rather only fills you with stress and anxiety. This is the perfect time to consider selling your business and perhaps opening a smaller firm or retiring on the money you have made.

2.    You Have Surpassed Your Business

It could be that after many years of running your business, you have dealt with every problem, overcome every mountain, and are now bored due to having seen and done it all. Perhaps you find yourself looking at other ventures and are losing focus when it comes to your main business. This is usually a pretty clear indication that it is time to sell and start something new as keeping your business could lead to its failure.

 

 

There are many intricacies involved in selling a business, which is why it is a good idea to make use of a platform such as Business for Sale when the time comes to sell your business. To find out more about how Business for Sale can help you find the perfect buyer for your business, contact us today!

Author: Bronwen Barnard

Director
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