Transworld Business Advisors Cleveland, Akron & Northeast Ohio – What are the Main Reasons for Selling a Business?
Transworld Business Advisors is the market leader and the largest business brokerage in the world. We specialize in selling businesses of all kinds and with over 40 years of experience, and as a certified exit planning advisor, we have the knowledge and expertise to help you sell yours!
Reasons for Selling a Business
Retirement
The most common reason for selling a business is because the owner is retiring.
- 63% of privately-owned businesses are owned by baby boomers, and more than 50% of those baby boomers are 64 years and older.
- 80-90% of their wealth is tied up in their business
The Exit Planning Institute (EPI) surveys confirm that 76% of business owners that are baby boomers plan to sell their business in the next 10 years, and 48% in the next 5 years. This is often referred to as the 10 trillion-dollar opportunity or the seller tsunami.
Relocation
Most business owners that move out of state will end up selling their business.
Burnt Out or Bored
This happens often; after running a business for 10 or 20 years, you can start to get tired or bored.
Health
Sometimes health concerns require you to sell a business.
The 5 D's:
- Death
- Disability
- Divorce
- Disagreement
- Distress
Learn More About Selling Your Business
If you are considering selling your business we make the process easy. Simply call Mike Snider at 440-628-4440 or email Mike at [email protected] Mike will conduct a confidential preliminary discussion with you to ask some of the following basic questions:
- How long have you been in business?
- What industry? What does your business do?
- What size is your business? Estimated Annual Revenue?
- What is the profitability? Estimated Annual Net Income?
- What is the reason for selling?
- What type of entity, and who are the owners?
After the brief exchange of information and if there is mutual interest, a free no-obligation consultation will be offered. We prefer to do this face to face at a confidential location, but during social distancing, we offer confidential online meetings as well.
That's all, at the Free consultation meeting we will be able to provide additional information on the Transworld selling process and free information on the opinion of business value.
Call or email Mike Now: 440-628-4440 [email protected]
