I have many clients who ask me “when” they should sell. I am not a big fan of timing the stock market, and I am even less of a fan of timing the sale of your business. The process is long and complicated and should be based more on your personal considerations than anything else. In general, it can take anywhere from six to eighteen months to sell a private business, so the fact that you had a “good quarter” or “one good year” may not help much. Don’t get me wrong – it is important to keep the numbers strong, but it may not make a huge difference on the final sale price.
So what should you consider when determining your exit plan? Look to your personal goals:
- Are you ready to retire?
- Have you just “had enough?”
- Is it time to move on?
- Is the business ready to sell?
As mentioned, selling a business is a complicated, time-consuming process. It is not one you want to start without knowing what it will cost in terms of time and preparation.
Need more information? Call us at 204-478-7266, ext. 110. or click
https://www.bealbusinessbrokers.ca/selling-your-business/ to download our free e-book on selling a business.