Whoooosh – What was that?
November 28, 2008 by John Denton
Filed under Selling A Business
Whooooosh
Me: “Hell, what was that?”
The Universe: “That was your life!”
Me: “Bugger! That went quick. Can I have another one?”
The Universe: “Sorry. No. That’s all you get!”
Do you ever feel like life is rushing away from you? Well me too. I can’t believe that 2008 is almost over already. Things have changed so much since I last posted to this blog. Some notable changes in the business sales environment.
- The values of most businesses are falling.
- Business owners have inflated views of what their businesses are worth. They haven’t kept up with what’s going on.
- Vendor finance of buyers is becoming increasingly common as credit to buy businesses becomes harder to get.
- It’s a buyer’s market and they are negotiating harder and taking longer to make a decision
- Most of the businesses coming on to the market are ‘unsaleable’.
- Not many good businesses are coming on to the market
- There are more buyers out there than sellers
So what should you do if you want to sell your business?
Get a reputable broker or registered valuer to tell you what the market value of your business is. Then get help to work on your business and prepare it for sale. Watch the economy and external factors and time your run to the market carefully. More soon….
If you want help with anything to do with putting a value on your business to preparing your business ready for sale, just contact us via the Contact Us tab on this web site! Alternatively, post a comment to this blog post. You WILL get a reply.
Regards
John
