Why You’re Probably Ready to Sell Your Business Now

Why You’re Probably Ready to Sell Your Business Now

If you’re already toying with the idea of selling your business, it’s a strong sign you’re ready to take the next step. As we enter 2025 many business owners start thinking about selling their business and whether it’s a good idea to sell at this time of year.

Unfortunately, business sales are much different to real estate and the “best time of year” mentality doesn’t really apply. It's more about the business you are actually selling.

The decision to sell is rarely spontaneous - it’s a gradual thought process, that becomes more prominent. As a business owner you know how much time and energy you have invested into your business. The idea to sell, will get stronger the more prepared and ready you are.

Here are 4 reasons now might be the perfect time to sell your business, or at least get started on preparing your exit!

1. The Idea to Sell is Already in Your Mind

When you’re actively researching how to sell a business or pondering what your exit might look like, the seed has already been planted. Whether it’s considering the current market or dreaming about your next venture, the thought of selling indicates you’re ready to explore your options.

A business is an asset, as a business owner who is looking to sell, you need to see your business as an asset that can make you money. Can you prepare this asset better to make more money (think home renovations), but for business it's much more about the financials and legals.

There is this strange notion, that a business is only for sale because it is struggling. Personally, I think these opinions come from “dreamers” and not actual business owners. There are thousands of profitable businesses on the market. There are hundreds of strategic sales every year, not because a business is struggling or an owner is retiring.

So, if the idea to sell is already there, it’s worth acting before burnout or declining performance affects the value of your business. You need to start preparing!

2. Your Business is Profitable (or Stable)

A business that is profitable year on year, is at the best time to sell. So if your business is in a growth phase, established over 3 years, then you are poised in a good position to sell for a good price. Business broker Shweta Tripathi from Accelerate Business Sales advises:

“You want to sell the business when it has hit a high when it’s doing well, if you want to get the right price for it, you don’t want it to decline, and you don’t want to get too burnt out.”

If your business is declining, then this is often seen as a 'struggling sale.' This is not a good time to sell. You need to look at your options, whether to invest more time into the business or accept the loss at the sale time. You can work with professional advisors to help you decide the best sales strategy.

3. You Know it Takes Time to Prepare for Your Exit

If you’re thinking about selling, you need to be ready for the entire process. Selling is never as smooth as a house sale. Firstly, you need to prepare the business for sale, then you need to keep it operational and profitable during the sales process and provide a training and handover period.

So if the thoughts are starting, you need to start preparing. You don’t want to get exhausted during the process. If you’re preparing for your exit, Shweta Tripathi from Accelerate Business Sales advises:

“When you’re thinking of selling your business 3 years ahead, you need to have a second in charge, you need to have an employee that is responsible for day-to-day activities. You can be the CEO, but you want to be away from the business so that when you leave, the business can sustain on its own.”

Building a self-sustaining business not only makes the sale process smoother but also increases the likelihood of attracting serious buyers. Obtaining professional help from brokers, accountants, and lawyers can also ease the journey. This article on professionals who can help sell your business provides a great starting point.

 

4. You Know The Time of Year Doesn’t Matter

Even though it is January and traffic on websites like Bsale is high with buyers, rest assured the time of year doesn’t necessarily matter in business sales.

There’s a common misconception that certain times of the year are better for selling a business. While seasonality can impact some industries, the broader truth is that buyers are always looking for solid opportunities. The key is to ensure your business is well-prepared and priced appropriately, and you’re prepared for how long it takes to sell a business.

With online marketplaces and professional networks like Bsale, your business can be visible to potential buyers around the clock, regardless of the season. It is how well-prepared the business is for sale and whether a realistic asking price has been set.

Start Now to Avoid Common Mistakes

One of the most significant risks in selling a business is waiting too long or entering the market unprepared. Many business owners fall into common traps, such as failing to secure legal advice or overestimating their business’s value. This list of common mistakes is an essential read for anyone considering a sale.

Engaging a lawyer early on is critical, as they can assist with everything from reviewing contracts to drafting the sale agreement. Learn more in this article about why you need a lawyer.

Selling your business is a significant milestone, but it doesn’t need to be daunting. If you’re already contemplating the sale, take it as a sign that you’re ready to act. With the right preparation, professional support, and timing, you can turn your business into a valuable asset for the right buyer.

So, if you are actively thinking about selling a business, then yes, now is the time, as it will take you a fair amount of time to prepare and exit, and you don’t want to get exhausted along the way! Print our Sellers Checklist so you have a list of “to-do’s” to work through.

Tags: selling a business best price

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