When is the Best Time to Sell My Business?
- Do we have family members that want, or we would want to step in and be the next generation to grow and prosper with the business?
- If we have partners, are they all on the same song sheet as I am? Do we have a Buy/Sell Agreement, if not, should we?
- How would the sale of the business affect our employees? Can I find a suitor that wants to grow with the team that I have built? Am I willing to sell for the highest dollar, no matter what the affect will be on the employees?
- Do I want to continue working for the new company after the sale and for how long? Will I be able to work directly for someone and not have the final say in decision making?
- Do I still have the fire in my belly to grow the business?
- Are the financials at a stage where we will receive an amount that meets my financial needs?
- What are the risks associated with continuing to grow the business and improve profitability?
REMEMBER, EMOTIONS WILL RUN HIGH WHEN SELLING OR BUYING!!!!!!
Just some thoughts to ponder. You might want to consult a Business Advisor who has had experience in these matters. If you want to chat, give me a call at 201-523-6326 or e-mail me at firstname.lastname@example.org.