Is It Time To Sell?

Timing Your Sale is Important

The decision to sell one’s business is a serious step—both personally and professionally. It represents the end of something and the beginning of something else—a dramatic passage. Selling represents the end of ownership and heading into uncharted waters. It also most likely represents parting with one’s biggest asset—in many cases, the bulk of one’s wealth. It also represents emotional issues for many owners.

There are a number of reasons to sell: partnership disputes, serious illness or death, divorce or other devastating personal issues. Then there are the less traumatic reasons such as retirement, or “burn-out.”

Of course, there are a number of reasons that might dictate the need to sell, for instance, the business is in financial trouble, competition is moving-in next door, or other economic problems are threatening. Unfortunately, by then it is usually too late.

When is it time to sell? Many experts say that it is time to sell when the business is, as they say, “at the top of its game.” Why sell when business is good? Because you will get the best price. Almost all the experts agree, if business is not good, your business may sell, but not at the best price. There are things to watch out for when selling in a down economy.

Only you, the owner, knows when it is time to sell. Putting a business on the market is a commitment requiring planning, time and other resources. Selling at the right time will ensure a successful sale.