Should You Sell Your Business Now or Wait?
- Points to consider in planning a sale? a. Where are you in the cycle of your business? b. Personal Issues – Health – Children – Marital Issues – Financial security for family and more. c. “I’m only 82 and feel great” - advisers need to educate clients about the realities of succession planning. d. “My business is my life” vs. “I’m Tired” - Transition Period: strategic vs. Financial Buyers. e. Is there a second tier of management to takeover f. Where are we in the economic cycle? – Economic cycle impacts on the value of a business. g. Recessions lower earnings and multiples – Cycles last typically 5-7 years. Are you willing to wait for the next up cycle?
- Control your destiny – Biggest Financial decision - don’t want to be forced into a sale.
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