You have invested nine years in your current business, but you no longer have the time to spend owning your own company. And while you know that this is a business that has been profitable for you and full of loyal customers, you also know that you might need help selling a business of this size. It might be difficult, for instance, for a buyer to realize that the gift shop that you have built is a community that supports its owner.
Whether you are the owner of a small gift boutique or you are the owner of a medium sized clothing store, it is not surprising that you might need help selling a business. From building a profile of who is the ideal buyer to sell my business to through understanding how to accurately price your business, it is important that you make use of the best available resources.
It does not matter if you are trying to sell business in Florida or in a northern state, it is important to make sure that you have all of the necessary information that you need before you announce that your business is for sale. Consider some of the this information about business acquisitions and business listings and the role that they play in the U.S. economy:
- 63% of surveyed business brokers reported that more business owners were looking to sell and there were more qualified buyers on the market in the year 2016.
- 7,842 small businesses were sold in 2016, according to the BizBuySell.com Insight Report.
- Seven of 10 surveyed business brokers reported that at least 25% of their sales were related to Baby Boomers
- There are 15 prospective buyers on the market for every one businesses listed for sale at any one time.
- The top three challenges of running a business are economic uncertainty, the cost of health insurance benefits, and a decline in customer spending, according to a report by the National Association of Small Businesses.
- Currently, there are nearly 28 million small businesses in the U.S.
Even if you are business owner who has run a business for a decade and understand all of the products that you sell and the customers that you serve, you may not be able to price or properly market the sale.