Are You Ready To Sell or Exit Your Business?
EPI (Exit Planning Institute) estimates that some 4.5 million firms representing more than $10 trillion ($10,000,000,000) in business value will transition over the next decade or so, but EPI also estimates that only about 20 percent to 30 percent of businesses that go to market end up selling. This estimate is consistent with BizBuySell’s most recent national report on businesses listed and sold in 2016.
The good news – sales of businesses were 27% higher in 2017 than in 2016 according to BizBuySell.com who follows business sale transactions. This is a trend that is likely to continue, as three out of four brokers expect more Boomers to hit the market in 2018 and beyond.
The bad news – Securian Financial Group’s latest study of small business owners indicate that 54% plan on leaving (selling) their business in the next 10 years, 72% have taken no exit planning action.
75% of businesses listed don’t sell. Why? The biggest reason is lack of planning. Selling is a business is 5-10X harder than selling your family home. It takes time and a lot of planning to get your business sold for the price you want.
If you are contemplating selling your business in the next 6 months to 3 years, here are 3 ways we can help you: