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Wednesday, September 8, 2010

Why Now is the Best Time to Sell Your Business

Chris Kortschot

With the economy struggling to recover and economists predicting a 50% chance of a double dip recession you might be thinking, “I’ll weather the storm and sell my business when the market comes back.” This is not illogical thinking. It is a good idea and would be the thought of many business owners looking to maximize their wealth for retirement.

Unfortunately there are a few other factors that need to be weighed when making a decision such as this.

As we all know the Baby Boomers are reaching the age where they are thinking about settling down and thinking about their last career; retirement. Baby Boomers are defined as being born between the years 1946 and 1964 making the youngest of the group a youthful 46.

This population boom will have far reaching consequences on many aspects of life for many years to come but how does it affect the business sale market?
There is no doubt that Baby Boomers are the ones who own the majority of businesses. There is also no doubt that almost every one of these business owners have recognized the fact they won’t be in charge forever. They will either hand the business to their children or sell it. Those (and bankruptcy) are the only possibilities in a business’s future.

What this means is that there is going to be a surplus of sellers in the very near future. In less than five years sellers will not be able to receive the money they could get today simply because there will not be enough buyers.

This means the time to sell is now!

If this message is new to you and you would like to figure out an exit strategy with us give us a call at 905 944 9779 ex 5. If you are not a business owner, maybe you know one could use this information! Pass it on!

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