video-clip
- Consumer
Should You Sell Your Business Now or Wait?
- Points to consider in planning a sale?
a. Where are you in the cycle of your business?
b. Personal Issues – Health – Children – Marital Issues – Financial security for family and more.
c. “I’m only 82 and feel great” – advisers need to educate clients about the realities of succession planning.
d. “My business is my life” vs. “I’m Tired” – Transition Period: strategic vs. Financial Buyers.
e. Is there a second tier of management to takeover
f. Where are we in the economic cycle? – Economic cycle impacts on the value of a business.
g. Recessions lower earnings and multiples – Cycles last typically 5-7 years. Are you willing to wait for the next up cycle? - Control your destiny – Biggest Financial decision – don’t want to be forced into a sale.