House flipping and home selling TV shows and articles share many tips and strategies to sell your home for top dollar. But how many shows are devoted to telling entrepreneurs how to #FlipYourBiz for the highest profit?
In 2018 10,312 businesses sold, a 31% increase from 2016, and the highest numbers since 2007.Small Business Trends
The best time to sell your business is when someone wants to buy it. Most small business owners do not have the luxury to hold onto their business and sell at the optimal time in the market. But there are things small business owners can do to maximize your profits and to sell your business for top dollar.
According to a survey by the International Business Brokers Association
- for businesses valued $500,000 – $1 million
- 51% of buyers are within a 50-mile radius
- 32% of buyers are within 20 miles
- for companies valued at $5 million and up
- 77% of buyers are over 100 miles away
The market for selling a business happens to be excellent right now. The window of opportunity is open, and should be blowing a strong breeze for the next three years. Smart business owners sell while the market is good. The rest get lulled into a false sense of comfort and ride the wave of business ownership too long.Forbes
There are steps you can take today, next week or next month that will help you sell your business at the greatest possible profit.
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7 Ways to Sell Your Business for Top Dollar
Selling your business is a critical step toward your next venture, whether that is to start another business, retire or to try something new. Selling a business is hard work – just like starting a business and making it profitable is hard work. These strategic steps can help your business sell at a higher price so that your next venture has the biggest possible chance for success.
- Is It Time to Sell Your Small Business?
- How to Find a Buyer for Your Small Business
- Questions Sellers Should Ask Prospective Business Buyers