As with any business decision, you must weight up the pros and cons before you take the leap.
If you are an owner of a business and you are considering selling, it is ideal that you sell whilst the market is positive. However in reality this isn’t always the case. Your choice to sell should be determined on your future goals. Do you need the money for another venture? Is your business tying up capital that could be used elsewhere? Or do you simply want a change in your lifestyle or career?
The right time to sell is reliant on your future goals and your strategic positioning; that’s not to say that you shouldn’t be looking to squeeze the maximum profit from your investment. Alert Property Group can assist you with this, whether you are after a quick sale or looking longer term.
The biggest downside to holding on to your business would be that it starts to slide due to outside forces, or economic uncertainty. In addition to this you may find your assets need renovation / upgrading, replacement or an unexpected competitor will enter your market.
If you do decide to sell, it is imperative you plan ahead for the occasion. Take into account the following and create your sale plan:
> Am I ready to sell?
>Have I considered options other than selling (such as becoming a silent partner, bringing in outside management)?
> Will family members support my decision to sell?
> Do I want freedom, away from the responsibility of running my business? e.g. to pursue other business interests, spend time with family
> Is the timing right? e.g. could the market and sale price be better if I waited, is my professional development on track
> Will the sale leave me free to earn my living, or will I be restrained from trading as, for example, a condition of the sale contract?
Ultimately it is you; the owner who will take on board advice, project future business and come to a conclusion of whether selling matches your goals.
If you require any assistance, contact our experienced team at Alert Property Group.