Number 1 Reason For Selling Your Business

What is the Number 1 Reason I hear when speaking to Business Owners about selling their business? Why are you looking to sell your Business? “Because I Am Ready”. For those of you who have owned a business for any period of time this is a response that is fairly easy to understand. I am a business broker based in Florida (and business owner) and speak to many prospective buyers and sellers of companies and understanding the “Why” for both parties is so important in assisting the buyers and sellers of businesses. I really think that most people that have given a fleeting thought to buying a business believe that owners want to sell their company and therefore something must be wrong with the company. Good companies get sold for very good reasons. Being “ready to do something else” is a good reason. A seller of a company needs to be ready to sell. Really- you only really exit your business by 2 means.

1. By your choice-your timeframe, your plan.

2. Not by your choice- closing due to company failure, business conditions, bankruptcy, Forced Sale.

Granted there may be certain undesirable company or personal events that prompts one to “be ready”. An owner may have additional employee problems and decide that enough is enough and that is the impetus to sell ones business. New frustrating regulation, customer problems, and any one of numerous problems an owner may face may be the “final straw” and induce a an owner to pursue the sale of the business. But again for any owner that has owned and managed a business for an extended period of time problems such as these come and go. Business can be going quite well and the owner may just be ready to move on. Actually selling a business while the company is doing well is a well thought out exit strategy for a business owner. And yes problems can and, do come along with the business. Problems within the company does not make a business a bad business. A business owner may “just be Ready” to:

  • retire
  • try something new- a second career
  • want to move or relocate
  • Just be done running the business. I have been running for the last 20 years.

I am not aware of the existence of a Perfect Business. Even the best of opportunities will likely contain issues and or undesirable situations. But if you truly want to own your own business and move into the role of business owner- Understand that good business are being sold by owners that are just ready…. to move on.