Now may be the best time to sell a business after years of building a small business leading you to think about cashing out or retiring. Most Canadian entities tend to sell on average nearly 2-3 times their respective cash flow per annum and about 90 percent of their asking price. Many higher-quality business enterprises in Canada are hitting the market because sellers tend to notice the success of the other businesses in the arena.
Entrepreneurs need to prepare their businesses in selling several years before closing a deal. This will help them slowly wean from the daily responsibilities. However, there are truths surfacing again and again since deals are made between sellers and buyers.
Here are some of the considerations posted by some websites on selling a business that every entrepreneur should take into account.
- Clear objectives in selling a business – A lot of sellers tend to commit