Ask Yourself – Why Am I Selling?
Buyers are going to ask why you want to sell. These are the most common reasons owners sell:
- Partner/Ownership Disputes
- Personal reasons – illness/death
- I want more time for myself/family
- I want to seek other opportunities/pursue other interests
If you’re looking to see because of boredom or you want more free time, then selling your business may not be the best course of action. It might be a good idea to think about other options that you can implement that would help free up your time or bring some spice back into your business.
My business is not making money – what should I do?
The “other” reason owners may want to sell is that they are not making money. An unprofitable business in most cases isn’t going to attract the right buyer. Now is the time to consider bringing in an expert to help you right the ship. In most cases, an unprofitable business is worth the “fire sale” value of the assets. Your goal as a business owner is to maximize the value a buyer will pay. Finding a business consultant who specializes in this area might be a good investment as part of your selling strategy.
If this sounds familiar, we can help. Let’s have a conversation, please contact us at 412-266-2141.