When's the Right Time to Sell?
Although the numbers are an important factor in deciding when to sell your business, the non-financial aspects are often equally important.
Are you psychologically prepared? You’re mentally ready if you’re committed to making a change, not enjoying the business any longer, or wanting to pursue other interests.
Are you financially prepared? Be sure you understand the financial implications of the deal and can approximate the resulting after-tax cash flow, evaluating whether it will support the lifestyle changes or other opportunities you’re seeking.
Have you considered external factors? You’ll need to evaluate the market for your business and consider pricing constraints, the buyer’s capital, interest rates, and the strength of offers from coworkers, competitors or suppliers.
Experts can help you holistically determine if now’s a good time to sell your business. If you’re ready mentally and financially, and the environment is positive, you’ll know it’s the right time to sell.
