Like buying a business, it’s no small decision to sell your business. You may find yourself in a situation where you are forced to make that call due to outside influences. Or perhaps it’s a carefully considered and deliberate choice to move on to better opportunities.
Whether you’ve sold your business once, twice, or not at all before, working with an experienced business broker is essential. They can make the transaction go smoother, and give you professional advice on whether you should sell your business at all. Brokers offer indispensable knowledge and assistance so you can make the best decision for you.
Here are some aspects to consider when deciding to sell your business.
Risk and Reward
Running a profitable and growing business can actually be a nightmare to some people. You know the phrase, “the bigger they are, the harder they fall.” Likewise, the higher the value of your business, the greater the risk of what you could potentially lose should something go wrong. As the business owner, it may be time to consider letting go of those risks that can affect you and your employees’ livelihood.
In the same vein, your growing and profitable business attract buyers eager to take over the operations. In this case, selling your business would mean being able to get a large sum of money from the sale. You may be given an offer you can’t refuse. As gratifying as it can be to own a business, the money you make from selling that business can be a reward on its own too.
Deciding to sell your business does not have to be for purely financial or strategic reasons. After all, business owners are people that go through physical and emotional changes throughout their lives. Whether the circumstances are health-related or disinterest in the work their business has evolved into, business owners can have their reasons to leave their job like anyone else. Selling your business can be a cause for celebration, for moving onto other more fulfilling opportunities in your life.
Some business owners build a business with the intent to sell it someday. Depending on how much money they have after the sale and what other goals they want to accomplish, sellers can end up using that money to do plenty of other things. They can start up a new venture, retire, or have extra funds if they plan on a return to working for someone else. Selling your business can be a planned or unplanned event, but it’s always best to prepare with some form of an exit strategy. Work with your business broker to plan that strategy.
Sell With Atlantic Business Brokerage, Inc.
At Atlantic Business Brokerage, our mission is quite simple; we help sellers sell businesses, and buyers buy businesses! Over the past 30 years, ABBI has facilitated the sale of countless commercial properties, businesses, and franchised locations. With our unparalleled knowledge of the business purchase and sale industry and our network of contacts, we offer services to both buyers and sellers that no other brokerage firm can match.