As we start our journey through the holiday season, beginning with Thanksgiving tomorrow, many adults begin to reflect on the status quo. Am I where I wanted to be at 45, 55, 65…? Am I making enough money to continue to support my family, pay for college, and save for retirement? Is 2018 the year I would like to sell my business and retire to spend time with my family and to travel? How much can I sell my business for? These are the questions that begin to bubble up as the year 2018 looms ahead of us. Now is as good a time as any to decide if you should sell your business and how to sell your business.
Once 2018 hits, many business owners get a boost of enthusiasm towards making changes for their future and starting the year off right, which often includes selling their business. And this is the same thought many other business owners will have, making January a busy time for business brokers. So while there are a few months left in 2017, it is a great time to reach out to a broker and get your business listed before the 2018 rush, so you have the opportunity to get in front of the many Coloradans, who have decided 2018 is the year they become an entrepreneur, early!
Having recently reviewed our quarter three market insight report, which mentioned that the larger M&A industry is slowing down due in part to political uncertainty as well as the slowing economic cycle, the data is indicating that the small- to mid-market M&A industry will soon slow down as well. How much is still uncertain, but business owners who wait to list may end up needing to wait out another 7-10 year economic cycle and risk having to trade at a low return on investment.
To summarize, planning early for your 2018 business sale is a great way to start the year off well. Your broker will have plenty of time to prepare you and your business so on January first excited buyers have the opportunity to inquire! A typical business sale can take anywhere from 6 months to a year, so don’t wait – start planning your 2018 exit now!
To speak with a seasoned broker today, schedule a confidential and complimentary consultation.
Rachael Holstein joined the Transworld Team in 2016 as Marketing Coordinator. Her working experience has been largely focused on Business Development and Marketing in the finance, architecture, property management, and information technology industries. A longtime resident of Cleveland, Ohio, she attained her Undergrad from John Carroll University and a Master’s Degree in Global Interactions from Cleveland State University. She relocated to Denver in 2013 for a change of scenery and a bit of adventure.