Have you ever felt like the best thing you can do with your business is to sell it? If so, you’re not alone. You see, a lot of small business owners feel that way when they look at the market and see valuations are high and competition is low.
They may even have investors knocking at their door saying “Should I Sell My Business!” But for whatever reason, they just can’t bring themselves to move forward on selling their business.
It’s a Seller’s Market
The economy is in a sellers' market.
There are more buyers than sellers, and those buyers have more money to spend. They're willing to pay up for good businesses, take more risks on new ventures and take on more debt.
This is only going to get worse as baby boomers retire and begin selling their companies at much higher prices than they could have before the 2008 financial crisis.
Wrong Price
The right price is what your buyer is willing to pay. It’s the price you can live with, and it’s going to be higher than what you might think your business is worth.
There are two reasons why most businesses sell for less than they could:
- The owner doesn't want to sell at all or doesn't want the hassle of selling. So, they don't show their business and don't market it well enough; or
- They do want to sell and will accept any reasonable offer that comes along in order to get rid of their business as quickly as possible so that they can move on with their lives.
Problems Aren’t Fixed Beforehand
- You will not be able to solve the problems after the sale.
- You will have to spend time, money, and energy on fixing them.
- It is better to consult experts before selling your business if you are confused with Should I Sell My Business?
You Don’t Want To Sell
There are several reasons why businesses don’t sell. The most common reason is that the owner doesn’t want to sell. They’re happy with their business and don’t see the need for change.
The second reason is that they may not have the right team in place to carry out a sale or transition successfully into another stage of their lives.
Additionally, they might not have a plan for what they want to do next and therefore do not see any advantage in selling now rather than waiting until later when they know exactly what it is that they want out of life.
Conclusion
In the end, it all comes down to a simple fact: you don’t want to sell. Sure, there are other things that can cause a business owner not to sell their business, but at the end of the day if they really wanted to do it they would find a way.
The truth is that they just don’t want to sell because they have built something special and want to keep building on that success in order for it to grow even bigger than it already is now.
