Why You Need to Know What Business Buyers Want
As a business owner, you may have one or more choices when it comes to exiting your business. You'll either pass it on to a family member, sell it to a third party or shut it down. Generally, your business will have a different value in each of these situations. Isn't it a good idea to know how much your business is worth now so you can decide which choice is best for you when the time comes? Recently, I spoke with a business owner with a 20-plus year track record who is considering a sale of his business. In his opinion, he has two options. One option involves selling to a family member. The other possibility is to sell to a larger company. I explained that one choice might bring a higher value. And the important thing to know, is which one. There are several types of buyers : • Financial buyers – motivated by income, usually individuals. They focus on companies with revenues under $10,000,000. These make up the bulk of business sale transaction