When is the right time, or the best time, to sell your business? There are as many answers to that question as there are businesses. Every business owner has different timelines, needs and goals driving the sale of their business. The majority of business sales are driven by personal circumstances such as retirement, moving, health/medical, or family as well as financial reasons such as starting of a new business venture.
The Best Time to Sell Your Business
The best time to sell your business is when you are well prepared and you are not pressed for a quick sale.
- While the Business is Doing Well.
- When You Have Adequate Time.
- Tax and Financial Planning has been Done.
- Before You Must Sell or Have to Sell Quickly.
- Before You are Burned Out and are No Longer Enthusiastic About the Business.
Planning for a major life decision such as selling your business is important as there are a number of things to do in preparation for the sale. Preparing in advance will ensure your business sells for the maximum value, reduce your time on market, as well as ensuring the business does indeed get sold.
In our blog; 7 Steps in Preparing Your Business to Sell we outline key steps in preparing your business for sale and preparing yourself for the eventual sale of your business.
In some instances the timing for the sale of your business may not be within your control as in the case of health/medical reasons. If you have prepared your business in advance for an eventual sale you will be in a good position to successfully sell your business. When owners are unprepared this can lead to a “distress sale” where the selling price is discounted in order to sell the business.
The best time to sell your business is when you are well prepared and have sufficient time to market the company. We can help you prepare your business for sale to maximize your value and the marketability of the business for when you are ready to sell.
We have a network of SBA lenders and Financial Planners for Tax Deferment Strategies. Our goal is to successfully sell your business and for you to achieve your goals and maximize your gain from the sale of your business.