Every business is different; the conditions and environment are unique to each. This is the same for choosing the right time to sell. However, the New Year is an ideal time to start the consideration of selling a business.
Here are two reasons why:
New Years Resolutions: The new year is seen as a chance to get a fresh start. What a new calendar year represents is new opportunities; buyers are looking for new business opportunities, sellers are looking to make a change.
‘Business for sale’ websites (such as those we list businesses for sale) see an increase in traffic during January and February. There are active buyers at this time. List your business in January & February and get more eyes in your offer.
Ready to Go:
By December, your accountant should have finalised the financials for the previous financial year. This is an essential tool in getting your business sold. Not only does it provide your broker with an accurate snap shot during an appraisal, it also is an important part of the buyer’s due diligence process. Being able to produce this information will impress, and assist buyers which may lead to a more streamlined sale.
If you are thinking of selling your business, it helps to have the help of professionals involved right from the start. Even if you are considering selling, it is never too early to have a chat with your local broker to discuss your situation and options.