Four Signs That It’s Time To Sell Your Business

The decision to sell a business is a difficult one. Most business owners put a lot of heart and time into building their dream, so it’s understandable that moving on might be a difficult choice to come to terms with. Still, businesses usually have some sort of end date, whether it’s closing its doors or selling.

Here are four ways to know if it’s time to sell a business:

1. Burnout. The reasons you originally opened the business are no longer bringing you joy. You’ve lost your passion, your goals, your reason for going to work. Maybe you’re stressed and overwhelmed and your health is taking a toll.
2. Different opportunities. For entrepreneurs, the choice to sell a business is often because they need the funds to invest in a new opportunity. With so much growth in the Raleigh and Durham area, there are constantly new opportunities to explore, so it could make sense to move on from one business to pursue another.
3. Personal goals have changed. Perhaps you have a children’s boutique, but now that your kids are out of college, you don’t have that need or desire to provide bows and bibs. Or you started an online company because you needed the flexibility but now want a brick-and-mortar business. Or being the owner/manager/decision-maker isn’t appealing anymore and you want to go back to the corporate world.
4. Life changes. Life is always changing, so what worked for your life at one point may not work at another. New babies, empty nesters, health considerations, relocation, retirement…all these and other factors can lead a business owner to consider selling their business.

When the choice to sell a business is made, it can feel downright liberating. But then a whole other set of decisions needs to be made to make the sale happen. When you’re ready to sell your business, contact Sunbelt Business Brokers of Durham to get a business valuation and a plan to sell.