One thing to remember as a small business owner is this: owning a business can be risky. That’s why many entrepreneurs decide to build up their businesses, and then sell them off at a profit to someone who can afford to take on a larger risk. But how do you know when it’s a good time to sell your business? Here are some clues:
You Are Risk-Averse
Maybe you started the business before you were truly ready. Or maybe you weren’t prepared for the initial loss of capital that usually occurs before profits begin to roll in. Brand new businesses are risky, so if you’re tired of gambling, it could be time to sell.
Someone Offers to Buy
You should seriously consider any offer that makes financial sense. By selling your small business, you will have liquid assets that you can invest elsewhere. You will also be passing the risk off to someone else, which might be a good thing.
It’s Time to Move On
If you’ve had your business for several years, you might have earned enough money to retire. Or you might just feel the urge to move on to another industry. If you are in either of these situations, you might want to sell as soon as you get a fair offer.
If you have a small business that you are thinking of selling, give us a call today. We are experienced, and we can help you sell your business quickly and confidentially.