When to Sell Your Business

Are you looking to sell your business? You may be asking yourself, is it the right time? Will I profit enough from selling my business? What’s next for me after I sell? These are all common questions. All business owners who have built a business understand the sacrifice, money, time, and energy involved in creating a successful business. There may come a time where you are ready to tackle a new venture, or retire and enjoy well deserved time off with your family. Regardless of the reason if you are ready to sell your business you will want to discuss your options with a seasoned Jacksonville business broker.

Reasons for Selling a Business

There are numerous reasons business owners may be looking to sell their business. Below are a few of the more common reasons we encounter.

1. Partnership Disputes
2. Retirement
3. Burnout/Stress
4. Health Issues/Death
5. Relocation
6. Financial Hardships
7. New Venture

Regardless of the reason timing plays a crucial role in maximizing your profit. The best and most logical time to sell a business is when it is growing and profitable.

Be Prepared for Change

When selling a business there are many emotions that you will experience, especially if you created the business and nurtured its growth over the years. One thing you will need to do is accept that once it sells you no longer have control or input in how the business moves forward. Many buyers once they purchase the business will continue to operate the business as it is, and may make small changes over time. Then you may have others that may come in and completely transform the way it is run. Whether you agree with them or not, it is time for you to let go of the reins. Remember the new buyer is purchasing your successful business and will be looking to make changes to further maximize profits and make it more successful in the future. 

Importance of Hiring a Business Broker

Almost every business owner we consult with, they know their business and how to operate it successfully. However, most business owners do not know the intricacies involved in getting a business ready to sell. There are many steps your business broker will go through to get your business ready to market and sell. Below are the main steps to selling a business:

1. Evaluate Marketability– we will look at all aspects of your business (P & L, business operations, product/service viability) to make sure it is marketable.
2. Package Development– we will create a comprehensive package showcasing (business overview, attributes, growth opportunity, and industry trends)
3. Business Promotion– we will confidentially promote your business via (internet sites, industry-specific databases, referral networks, and buyer target marketing).
4. Sales Navigation– we navigate all parties through all aspects of the sale, which include: interviewing prospective buyers, pre-qualifying buyers, preparation & negotiations of offers, and financing.
5. Sales Process– we will steer you through the entire sales process avoiding mistakes that could derail the deal.
6. Business Transition– we work with the buyer and sellers to make sure we transition all parties in and out of the business.

If you are thinking about selling or would like to discuss options available to you contact Anthony Hicks today for a free business evaluation.

Why Choose Anthony as your Business Broker?

As a successful business owner, Anthony understands what it takes to create, manage, and grow a business from the ground up. With decades of business experience, Anthony can evaluate your business operation and provide valuable insight to help its marketability.

Anthony’s strengths and experience lie in the areas of Sales and Marketing, Strategic Planning, Business Development, Operations, and Finance. He works with both buyers and sellers and utilizes personal experience as a business owner/operator to help clients make informed decisions throughout the sales process.  Anthony understands that the buying or selling of a business is likely one of the most important decisions in a person’s life and will represent you with that always in mind.

If you would like a free business analysis to see if selling your business is a viable option contact Anthony Hicks today at (904) 994-5235.