Should I Sell My Business If We're in a Recession?

Should I Sell My Business If We’re in a Recession? The Answer is Maybe...

BY JEFF BACH

FIRST A PANDEMIC, AND NOW A RECESSION.

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Wowners are going through a lot! Maybe you were thinking it was time to move on before all of this hit. Or maybe it has affected your business and caused you to think about a succession plan. Did you wait too long, or is now the perfect time? Well, that depends. There are many factors that need to be weighed in this decision over and above the timing and lifestyle issues of more “normal” business times. Things like your industry and your geography. Where you and your family are in life: do you have time to wait several more years? What do banks think of your industry right now? What do banks think of acquisitions at this time in general? The bad news is that some industries and geographic areas are going to be affected negatively. This might not be what you want to hear, but it is what happens in a recession and might be the case for some time to come. However, if you are in a position where you must sell, there may be options that will make it work even if the outcome is not as ideal as you had hoped. The good news is that some industries will sell just fine or even well in slow economies. There are always businesses that are expected to survive a recession well and even grow. Educated buyers often seek out these types of businesses to secure their personal fortunes. An experienced business broker should give you an honest assessment of how your own company is positioned to sell in this environment. Keep in mind that you can find business brokers and mergers and acquisitions intermediaries that only get paid when you sell your company. Another positive to note is that often the buyer pool changes when the economy dips. Many businesses are currently owned by people who lost their jobs at some point and purchased a business rather risking putting years in at another job only to be let go again. That is likely to start happening again very soon. This brings qualified people with knowledge and money into the potential buyer mix. Bargain hunters are always poised to take advantage of opportunity. They have resources and capability. Many already own businesses and have support teams to take on another business. Brokers who help owners sell their businesses build up lists of qualified buyers. This is their true inventory. A broker or intermediary that is successful could very well already know buyers for your company. Reach out and learn if it is a good enough time for you to sell, and if there are potential buyers looking for businesses like yours.

JEFF BACH is a leading broker at Fusion Business Services, along with the other top brokers in this area. Fusion Business Services combines the highest levels of technology, marketing and professional experience for your needs. With access to their large network of qualified buyers, Jeff offers the best opportunity to help you successfully sell your business. He only gets paid when you sell your business. Valuations are free and are the starting point to knowing when it is the right time to sell your business. Jeff can also help qualified buyers find and buy a business that meets their goals. He is also an Official Member of Forbes Business Council. You can contact Jeff for a free, confidential, no-obligation discussion about selling your business or buying a business at 314941-8530, or by email at jbach@ fusionadvantage.com.

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