Selling a business in 2020/21 : Important things to consider
Over the last 20 years, Oltec Group has completed 20 acquisitions so we have a lot of experience to work alongside prospective sellers to make the process as easy as it can be.
May be it is now time for you to contemplate selling your company ?
If you own a Security, Cleaning or maintenance business and contemplating a change of direction in life, please contact our team confidentially on email@example.com
Below, we provide guidance for prospective sellers.
For many entrepreneurs, there will come a time when it makes sense to consider selling their business. Whether you're approaching retirement or simply ready for your next career challenge, finding a buyer to assume responsibility for the company you've built might seem like a very wise endeavor.
Although you may know it's the right time to sell, that doesn't mean the decision will be an easy one to make. Not only are there key practical elements to consider -- the financial arrangement, the strategy of incoming management, the impact on your employees, etc. -- but letting go of the business you built from the ground up can be very emotional, too.
According to a panel of successful entrepreneurs, here are some of the most important things to think about before you put your company up for sale.
The timing of your sale
Timing is a critical factor, both personally and professionally. You have to know that this was the market and the moment in which to sell
Timing also related to where you are in your life with family and goals, and when to start you next business or retire , The timing will be different for each person."
Your emotional preparedness
It can be difficult to let go of the business you put your heart and soul into building. Selling your business isn't a split-second process. The entire process can sometimes take a year or more
Being emotionally ready is key to making sure the process goes smoothly, instead of it being emotionally draining.
Your financial prospects
Any prospective seller must consider the net proceeds, and whether it's enough to get them through a non-compete period after the business changes hands. If you own a Security, Cleaning or maintenance business and contemplating a change of direction in life, please contact the Oltec team confidentially on firstname.lastname@example.org