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If you want to sell a business, timing the market can often make for a more successful sell. The following tips will help you determine the best time for you to sell a business.
Are you looking into selling the business because you are looking to retire or move on? If your reasons to sell stem from an emotional reason, you may be more likely to accept a lower price in order to finish off a deal quickly. However, if you are forced to sell a business due to unforeseen circumstances, then it does not hurt to have a pre-made plan.
On the other hand, if instead of waiting until you are burnt-out by the company, you sell when a good financial opportunity comes up, you will be more likely to receive a better price. One of the best times to consider a sale is when the company is running great and bringing in a lot of revenue. A failing business is not attractive to buyers, but one that is lively or even just maintaining a consistent level of sales is more likely to be purchased.
It may be tough to let go of a business when you are in the midst of success, but it can help prevent further risks of loss in the future.
If you are considering selling your business, please contact George & Company and we will answer any questions that you may have.