Have you been asking yourself "is this the right year to sell my business"? Maybe you are asking a business broker "is this a good time to put my business on the market" or "how is the market these days"? While these are all good questions, it's only a drop in the bucket when it comes to determining the right time to sell your business.
Can you imagine your life without your business? What will you do with your extra time? Have you calculated how much money you will need to retire and continue your current lifestyle after the business sells? These are just a few of the questions you need to answer before determining the right time to sell your business.
How long does it take to sell a business?
Selling a business typically takes 3-12 months but is a difficult process to time. The length of time to sell your business can depend on the industry in which you operate. Also, the process itself takes so long that it is often difficult to accurately time.
What's the best time of year to sell a business?
When revenue and profitability are at it's highest and when your business is established is the best time to sell. Selling a business doesn't have anything to do with the time of the year but everything to do with the many other market factors.
When you are thinking about selling, you need to take a moment and evaluate the situation. Do you have unquestionable reasons to sell? Are the conditions within the company promising in favor of selling at this particular time? Are you emotionally prepared to sell? If the answers to these questions are yes, then maybe the timing is right. If the answer is no, then focus your attention to building your business and increasing its value, and when the day comes that is right to sell, you will get the most beneficial deal.
Selling a business is time-consuming and for many, an emotional venture. Be sure your business is properly valued and that you are proceeding in the manner that will best benefit your bottom line. Contact Jones and Company CPAs P.A for help during your entire process. We are here to help you every step of the way. Contact us at www.jonescpa.com or call 727-845-4166.