As a business owner, one of the most important decisions of your business career is the decision to sell your business.
In the 15 years that I have been in business brokerage, I have heard many reasons why Owners sell. All are individual to each Owner and the following are just a few of the reasons or causes:
- Owner’s “burn out.” It doesn’t matter if it is after five or fifty years. Remember each is an individual situation.
- Retirement. Ready to stop working altogether
- Has other interest that they want to pursue and the business is taking too much of their time.
- No one available that wants to enter the family business.
- Not interested in investing additional long-term capital.
- Wants to step away from the business world, cash out and go fishing, at least for a while.
- Health reasons for either themselves or family members
Whatever the reason, you need to plan on an orderly transition to new ownership, leaving you free to implement your plans for your future.
Most sellers do not realize the steps that should (or must) be taken to insure a successful sale. If you would like to go more depth, give me a call and we can discuss your personal situation. Remember, getting informed is the first step.
Sunbelt Business Brokers, Greater Bay Area | (408) 436-1900 | sunbeltbayarea.net