Selling your Business
Most of this website is mainly about help with starting your business, and running it successfully. But there comes a time that you will want to sell your business, so what are the reasons first of all for why you would want to sell your business:
- Motivation - you no longer have it in you to keep your business running, your bored of doing the same things day out just to keep the business ticking over.
- Retirement - running the business is just too tiring for you now, you need to get rid of it before you start making mistakes with it, you want to hand it over to a younger generation who can grow the business.
- Starting a new venture - maybe you've seen another business that you want to start that will be more profitable, but in order to start your new venture you need to sell your old business to raise finances as well as giving you more time to invest in your new business.
- Re-locating - for whatever reason you have decided to move house, your business maybe too far to commute to each day/week and therefore you need to relocate the business, although the business maybe impractical to re-locate therefore the solution is to sell the business and start a new one in your new location.
- Bullied - the locals don't like your business for whatever reason, maybe you run a controversial business for the area. You personally could be involved in something that the locals don't like and are targeting your business, it could be religious or racial reasons. There are many reasons why your business could be targeted, and the only way out is to clos or sell up.
- Bad Business - maybe you have bad business that isn't making any or enough money and you want to sell it to reduce your losses.
- Market changes - you can see that certain changes in the market are taking place and you feel your product or service is not going to be needed or wanted as much in the future, therefore you have decided to cash in now.
- Poor Health - unfortunately you've developed an illness which makes you incapacitated to run the business properly.
- Business Dependency - it could be that in order for your business to keep going you need components from another company, you may have reached the end of a contract or be near to the end of a contract with them and want to sell before the contract runs out.
- Exit Strategy - you've reached your exit strategy, in other words your business plan worked out right and you've achieved your goal...now all you have to do is find the right buyer for your business.
These are just a few reasons to sell your business, there are many others besides these.
So when you've thought enough is enough how do you actually go about trying to sell your business?
If you manage to sell your business and were thinking of starting a new business then look no further than our A 2 Z listing - we have over 6000 business plans listed in our easy to find listings from 24 hour and DVD and Video Hire to Zumba Tuition.