Selling your business can be an emotional experience. You may have spent years of blood, sweat, tears and money building your business and the thought of selling it to someone else is almost too difficult to comprehend.

The reality is there will come a time to exit, but how will you know when the right time is?

Unfortunately, there’s no algorithm that will tell you when it’s time to sell your business – sometimes it’s just down to gut feel.

But there are some common themes we see when talking to business owners. Here are 4 key signs that it might be time to sell your business.

 

You have had enough

The last few years have been tough and for some business owners, they have simply had enough. Getting up every day you might feel like your heart just isn’t in it anymore. If the fire has gone out, or is on its way, then it’s best to be honest with yourself and start to consider your options. Selling a business takes time and can be an emotional process, so you need to make sure you have the energy required to stay engaged through the sale process.

 

You’re losing focus

It’s very common for business owners to have a range of other interests – business and personal. If you find yourself spending more time on those  pursuits rather than the business, then it might be time to think about the future. The last thing you want  after years of building your business is for the distraction of your side ventures to adversely impact the value of what’s likely to be your main asset.

 

Your business is killing it

You’ve worked hard and the business is kicking goals with a bright future. Maybe you have a great team in place, doing things you never considered possible. It’s often said the best time to sell is when there is still opportunity left for the buyer, so this might be the time to cash in and take some money off the table.

 

You are worried about changes in your market

No one has a crystal ball, but as an experienced operator you might see signs that changes in the market may negatively impact your business down the track. These changes might be driven by the uncertainty of the last few years or new technology – either way they will likely be out of your control. If you are feeling this way, then maybe it’s time to sell and let someone else use their energy to tackle the future challenges.

 

act early to protect the value of your hard work

Whatever your scenario, the thing to keep in mind is to maximise your exit result and protect the value of your business, you need to control the timing of the decision and sale process as much as possible. Unfortunately, for some business owners, the decision to sell is forced on them by a significant life event, and that can have a corresponding negative impact on the sale price of their business.

 

we’re here to help!

If you are considering selling your business, but don’t know where to start or would like to discuss your options, please feel free to reach out to us at broking@businessdepot.com.au or give us a buzz on 1300BDEPOT.

 

general advice disclaimer

The information provided on this website is a brief overview and does not constitute any type of advice. We endeavour to ensure that the information provided is accurate however information may become outdated as legislation, policies, regulations and other considerations constantly change. Individuals must not rely on this information to make a financial, investment or legal decision. Please consult with an appropriate professional before making any decision.