Why would anybody want to buy my business? If you are a business owner, you may have asked yourself this question.
Of course, some budding entrepreneurs insist that they must start a business from scratch. Craving excitement, they picture launch parties and pats the back for breaking new ground. However, a business start-up can be way too exciting. And the bragging rights they get from being founders may not offset the risks.
Start-up businesses rarely survive the first year. Within four years, less than five in 100 businesses started only to end with their doors closed. With these dismal numbers, why would anyone want to invest their money to start a business from scratch?
Especially, when there are sound reasons to buy an existing business from someone who has already done the groundwork and set a successful enterprise in motion.
Advantages to a buyer of your established business include:
#1. Income from a company with cash flow
#2. Name Recognition with marketing, advertising, supplier relationships, and customers
#3. Bankability from historical data, so buyers can more easily get loans
#4. Infrastructure with employees and systems in place to ensure smooth operations
#5. Training from the former owner with follow-up help when issues arise.
With these five advantages, buying a business makes sense for would-be business owners, which is great news for a selling owner.
What Advantages Does Your Business Have to a Seller?
If you are considering selling your business, reach out to me at Selby, LLC. I can help you determine what advantages your business might have to attract a buyer. You can learn what your business is worth now, the steps you can take to make your business more attractive to a buyer, and how you can have a smooth and successful transition to new ownership.