The decision to sell your business in Dallas is one of the hardest decisions you will likely face in your lifetime. So, what are the signs that indicate selling is a good decision? Ideally, you want to sell when the value of your company is highest and when you are ready and the time is convenient for you. In this review, we discuss 6 signs that indicate now may be the best time to sell your Dallas business.
Your Business is Making a Profit
Your natural instinct may be to ride the profitability wave while your business is performing well financially. However, it is also important to remember that your business is the easiest to sell while you are driving sizable profits. In far too many cases, business owners wait until the company starts to struggle to try and sell. The issue with this is that potential buyers are not going to make strong offers for your business if it is not performing well at the moment. So, although at first it may seem counterintuitive, you should consider selling once you are driving significant and consistent profits.
Your Industry is Changing Rapidly (or Possibly Declining)
Are you in a rapidly changing industry? If so, then you understand how much work is involved in keeping up with the times. You are then faced with the choice of learning how to navigate the evolving complexities within your industry, which often comes along with high costs and a fair amount of risk, or sell to someone who feels as if they have a good grasp on where your industry is headed and how to profit from the changes. In some cases, this can be what is best for you as well as your employees as you can feel more certain that the company will succeed long-term.
In other cases, the industry may be on decline. This can be an obvious decline due to well-known challenges. In other instances, however, only you (and other experts within your industry) may project the negative industry forecast. Regardless, anytime you feel your company is performing better now than they will in a year or longer due to industry challenges, a sale should be considered.
You Have a Growing Interest in Other Business Ventures
If you have a growing fascination with the idea of starting a new business, then now may be a great time to sell your business in Dallas. As you may very well know, it is a highly difficult task to try and divide your time and attention across multiple business ventures. Being the owner of your company bears a lot of responsibility, and trying to focus on new startups as well could lead to both ventures struggling. Instead of juggling multiple priorities at once, you may benefit more by selling your company and using some of the proceeds of the sale to fund your next business venture. Regardless, having free time is invaluable if you are interested in a startup (or expansion) opportunity.
You Feel Burned Out and Are Ready to Retire
The idea of retirement can be difficult for many business owners who have poured years into building their company. However, if you are beginning to feel as if you physically and mentally cannot continue to do the things you need to do for the business to succeed and grow, then it is time to consider selling.
In other cases, you may find yourself delegating more and more of the responsibilities to the point where you are minimally involved in business operations. This could be due to simply burning out from the responsibilities involved, your health condition, and/or your age. At this point, it may be best to pass the torch to a new owner who is willing to pay fair market value for your company and continue the vision and direction you have for your company and employees.
You Want to Spend More Time With Your Family
Many business owners choose to sell their business in Dallas simply because they want to spend more time with their family. The fact is being an owner of a company is time-consuming and stressful. If you are finding yourself spending countless hours at work and away from your family to the point where it compromises your relationships with them and/or your overall health and well-being, then it may be the right time to sell. This will allow you much more time to spend with your family.
Your Life Circumstances Have Changed
Sometimes life throws us curveballs. From an unexpected health concern or diagnosis to divorce, it helps to take a step back and reflect on what truly matters when we face obstacles in life. If your life circumstances and situation have recently changed, then it may be an ideal time to sell your business. This will allow you more time to face tough life circumstances comfortably as you will have access to more wealth and time after selling your business in Dallas.
Are You Contemplating Selling Your Business in Dallas?
Sigma Mergers and Acquisitions is here to help you sell your business in Dallas. We are locals to the Dallas community, and we take great pride in helping business owners all throughout the region (and state) sell with confidence and in a stress-free manner. If you would like to learn more and get started, contact us today. We are happy to provide free, no-obligation business valuation.
Sigma Mergers & Acquisitions sells businesses valued between $1 million and $100 million. We have helped sell 600+ businesses over the past 20 years. We charge NO upfront fees ever, and you pay us only when we sell your business for a price that meets YOUR goals.