Have You Ever Considered Selling Your Arizona Business?
If you own a business in Arizona, you either already have or sooner or later will be thinking about selling your business. Running a business is very involved, challenging and time-consuming, but it can also be very rewarding. There are many reasons why selling your business could be a smart move; maybe you are sick, tired of running a business that is taking up too much of your time, looking to branch out into a different industry or have the desire to start something new. Whatever the reason may be, if you have a successful business and are thinking about selling it, now is the time to do it.
Here are five great reasons why the time to sell your Arizona business is now:
1. It’s a seller’s market. There are more buyers than sellers right now who are willing to pay top dollar for good profitable businesses. After years of economical struggle and financially challenging times, things are looking up again. Many aspiring Arizona entrepreneurs are taking the opportunity to start or buy an existing successful business. Many businesses had to shut down after the great recession, but those that survived are typically doing better than ever and have proved that they can make it through tough economic times. If your business is one of them, it will be very attractive to potential buyers.
2. A strong local economy and attractive lifestyle continues to draw qualified buyers from around the country looking to relocate and purchase businesses in the Phoenix Metro area. People from all over the country are relocating to Arizona in order to be able to enjoy the moderate climate with its mild winters. Additionally, real estate is attractive and affordable. Many “out-of-towners” appreciate the many master planned communities that keep sprouting up all over the valley. This of course also brings those to town that are interested in investing and buying profitable Scottsdale businesses.
3. Interest rates are at historic lows allowing buyers to justify paying a higher price for your business.Maybe you are hesitant about selling your business, because you wonder if you can get what you think your business is worth. You have invested a lot of time, blood, sweat and tears and would like to be compensated for it. The good news is, with interest rates being so low; the odds are in your favor. Many potential buyers are much more inclined to buy a business when low interest rate loans are available. This could also mean they are willing to pay a higher price for your business. That’s good news all around.
4. Operating a business is demanding: If you no longer enjoy giving a 100% effort, it may be time to consider selling.
Let’s face it, running a business is a lot of work. You put in more hours than if you worked for someone else and you are the one that has to be available 24/7, which makes running a business an exhausting endeavor. Maybe the time has come to slow down. Do you feel like the business has grown too large for your skill set or it is not bringing you as much joy as it used to? If you answered “yes”, then it is probably time to move on. Cash out and start something new. And you get to spend more time with your family as well. It’s a win-win.
5. The time to maximize the return on your investment is when things are going well. Negative trends in your business can develop before you know it and that can cost you dearly in the buyer’s perception of the value of your business. Sitting around and waiting never really works out. If you are planning on selling your business-do it now! Market trends go down all the time, and before you know it, the nice profit you could have made is gone as well. While you may have a multitude of interested buyers this month, you may not see any next month. Business trends are very fickle and fluctuate frequently. Right now the Arizona market is hot and profitable businesses are in great demand, be sure to speak with Phil Reese, Top Rated Phoenix Business Broker.
If you are intimidated or uncertain about selling your business, be sure to contact a local Scottsdale business broker who has the Certified Business Intermediary (CBI) designation. They can assist you in determining what your business is worth, screen potential buyers and keep everything confidential as well. A professional and experienced Certified Business Intermediary will make the sale of your business go smoothly and can help prevent any hiccups that may come up.
If you are considering selling your Arizona business and would like to learn more about the process, contact me at 480-707-7721 or firstname.lastname@example.org. We can discuss the selling process and I can perform a FREE No-Obligation Valuation to let you know how much your business is worth in today’s market.
7077 E. Marilyn Road, Bldg. 4 Suite 130
Scottsdale, AZ 85254