The Top Ten Reasons Florida Business Owners Sell Their Businesses:
- Retirement: Most business owners eventually retire and pursue a different life chapter. Running a business can be an all-consuming, full-time affair. As business owners grow older, many may decide they are ready to spend more time relaxing, pursuing hobbies, spending more time with their families or grandkids, and traveling. Selling their business can help them fund their retirement and live comfortably.
- Financial difficulties. Operating and financing a successful, profitable business can be daunting and stressful. For some Florida business owners, selling their businesses can be an excellent option for getting out from under personal debts and living a quieter, less demanding life.
- Personal or Health-Related Issues. Health or personal issues can severely drag on operating a full-time business and being fully engaged. When health or personal issues require more attention, selling a business may be wise.
- Changes in the industry or marketplace: When economic or market forces change, and growth is limited, business owners may sell their businesses to avoid further losses. Sometimes a business owner is not equipped to handle the ups and downs of operating a business or rolling with the changes that come at them.
- Partnership disputes: When business partnership conflicts arise, parties may seek to sell their portion or the entire business to resolve the dispute. Sometimes, strife between two or more owners leads to a standstill or impasse. Selling a business or one’s stake is the only wise decision.
- Relocation: A business owner may sell their business if they move to a new location, city, state, or country.
- Opportunity to capitalize: Business owners may sell their businesses to take advantage of a sale opportunity, including a potential buyer purchasing the business at a premium. Sell high, buy low. Sometimes a business owner wants to cash out, move on, and try their hand at something else. This can be a great opportunity or scenario for both the seller and the buyer.
- Burnout or lack of passion: When a business owner loses his or her motivation, or passion for their business, it can make sense to recognize these feelings, make the tough decision to sell their business, and move on.
- Family planning: Business owners may sell their business as a part of their family estate planning. Selling a business may make financial or tax planning sense.
- No succession or heirs. Some business owners may not have family members or other suitable heirs to take over their business and continue their legacy. Or they are opposed to transferring it or selling it to a family member or child.
No matter your reason or reasons for selling your Florida business, an experienced, knowledgable, trusted, and licensed Florida business broker like Eric Wayne of Eric Sell My Business, can help answer your questions, offer his insights, and help guide you in the process of listing, preparing, marketing, and selling your business to a qualified, motivated buyer.
