Take a look at Calhoun Companies' news written by our business brokers in Minnesota for advice & guidance in buying & selling a business!
Calhoun Companies president and co-owner, Andy Kocemba, is a contributing writer for The Business Journals. Each month, he offers advice on buying and selling small to mid-size businesses.
Are you asking yourself, “Is this the year I sell my company?” Here’s how to know if you’re just toying with the idea, or ready to start the transition.
Are you asking yourself, “Is this the year I sell my company?”
If you bump into a business broker or M&A professional, you might ask him or her things like, “How is the market these days?” or “Is this a good time to put my business up for sale?”
While these questions can lead to fun and interesting conversations over coffee, they are only the tip of the iceberg when it comes to determining the best time to sell your business.
Let’s take a few minutes to address the current market conditions and touch on the key factors you need to get in line if this is the year you plan to put your business on the market.
Let’s get this one out of the way first. It will be a seller’s market this year. We still haven’t seen the predicted wave of baby boomers selling their businesses, so there is still strong demand for quality, profitable businesses when they come up for sale. In general, sale prices are high, and 2016 should be a good year to sell.
However, market factors are only the beginning. Internal factors will have more influence on whether or not now is the right time for you to sell. Here are a few important questions to ask yourself.
Andy Kocemba is president and co-owner of Calhoun Cos., a top business brokerage firms in the Upper Midwest. Calhoun Cos. has been connecting buyers and sellers since 1908, working with small- to medium-sized businesses across allindustries. A graduate from Bethel University, Kocemba joined Calhoun Cos. in 2003 as a sales agent before buying the business in 2011. He is a member of the International Business Brokers Association, Minnesota Chamber of Commerce, and Better Business Bureau.
Read More from Andy:
Last modified on