More often than not, the decision to sell your business comes from personal reasons more so than financial concerns. For instance, you might be looking to sell your business because you have lost passion for it or it is time to retire. That being said, the average timeline for selling a business is 6 to 9 months. This means that there is a right and wrong time to sell your business. When in doubt, contact an experienced business broker to flush out a timeline that works for your lifestyle and desire to sell.
When is the right time to sell my business?
Listing price can play a major role in determining a time to sell. For example, if your market is down, you might want to wait it out for a bit. You want to ensure your financials are in order and your business value is high. The key to this is to keep increasing your profits as best you can so that you may list at a competitive price and offer a growing, thriving business to interested buyers.
In most, if not all cases, buyers want to see how your business is currently doing and how it is projected to grow. They are much less concerned with the historical numbers. Therefore, you will want to begin the sale process once you feel comfortable enough to show what that could look like.
How can my business broker help me?
Transworld Business Advisors Houston has knowledgeable business brokers who experience both the selling and buying process on a regular basis. This gives them excellent, useful insight into your specific needs - whatever they might be. With a network of interested buyers who have already been vetted for interest and financial means, you will only receive offers from trusted sources.
Still not sure what is the best time to sell a business? Since it varies on the industry, location, and several other factors, it is undeniably helpful to have the guidance of a business broker who has walked others down this path before. Contact your local team at Transworld Houston for a free consultation.