If you have been successful in owning your own business, you know that the job of being your own boss comes with its share of struggles. Many factors can lead to the decision that it is time to pass the torch, or just sell your business altogether. Whatever the cause may be, you should know that the decision to sell your business is a personal one that should be thought out well before you sell. What are some of the reasons that people might want to make this crucial decision? Read on for some common reasons that business owners might want to move on and sell their business.
As a potential business seller, you may be sitting on millions of dollars in equity. A seller can expect a 2 to 4 time multiple of the cash flow of their business when they decide to sell. If you have been in business for many years, and know that you could turn a profit by selling your business, it is nothing to be ashamed of. Many people open their own businesses for financial security to begin with. It makes sense that you might want to use the sale of your business for a nest egg for you and your family.
When a business becomes a success, it is the natural order that the owner becomes more of a manager. You may have had to hire employees, deal with issues related to Human Resources, and taken on the role of accountant. It is natural that you have wanted to free up your time to spend with friends and family if you have reached a level of success. Many business owners have devoted their entire life to their company, and there comes a time when they’ve simply had enough. If you feel that you may need more time managing your own life rather than the job functions of your employees, it may be time to move on.
Exciting New Prospects
If you have achieved your dream of opening your own business, and have been running it for years, you may be ready for something new. You may want to travel, or go into a different line of work. These are goals of many an entrepreneur. There are new challenges on the horizon for everyone, so if you are eager to explore new prospects, selling your business might be a healthy move for you.
Whether or not you decide to sell your business is a challenging decision. Most owners struggle with the question of if it is the right thing to do. Many people have been in this boat before, and will tell you that it is perfectly normal to want to sell your business one day. If you are considering selling your business, but don’t want to rush into anything, consider some of the above reasons before making your final decision. And, as always, Vested Business Brokers is here for you should you need any advice for selling your business. We have successfully helped over 1900 business entrepreneurs sell their business and currently have over 280,000 registered qualified buyers looking to purchase a business.
“I recently had the unique pleasure of working with Jim Aloi, your senior business broker. I wanted you to know that Jim’s professionalism and patience allowed me to purchase my new business. He was great with helping me with my negotiations and resolving tough issues. I wish him continued success and will recommend him to all my friends and business partners. Having dealt with Jim for the last 3 months, I know for a fact that, you are lucky to have him in your firm.”
There’s a particular business you can own and operate that will consistently turnquartersinto thousands of dollars. It’s a stable, profit churning business that only requires your presence on a part-time basis. A business rooted in taking care of one of life’s basic necessities, which safeguards it from even the worst of economic downturns. This is an industry where there are virtually no sales tactics or persuasion skills needed in order to get customers. In case you were wondering, the business that is being described is…The Laundromat.
The pro versus con list of owning a Laundromat heavily favors the pro side. This business is SAFE because it’s not influenced by the economy. The simple fact is people need to clean their clothes regardless of the country’s economic state. Then there’s the age-old adage of ‘location, location, location.’ Well, Laundromats can be successful and profitable in most communities. However, in neighborhoods with high rental occupancies, this business isexceptional. Typically, running a successful business can take a big chunk out of your personal time. Laundromats are different. As individuals who own Laundromats can attest, the beauty is the part-time hours. According to Brian Brunckhorst of www.buyalaundromat.com “if run properly, a Laundromat should only require 5 to 15 hours a week of your time. Don’t waste your time getting a second job, instead own a part-time business and a Launderette is truly one that can be run part-time.” More so, Laundromats do not require you to roll up your sleeves and sweat in order for you to earn your money. This is one of the few businesses where your customers are doing all of the labor and paying you! Your job is solely to provide and maintain competent washers and dryers. Finally, the most important reason to buy a Laundromat is that it is an ALL CASH BUSINESS. Customers pay in cash in order to use your machines. There are no checks, there are no debts, and there is no waiting.
Laundromats are an amazing business and investment vehicle. They don’t require experience or any special training and are simple to operate. It’s an industry that only continues to grow and can provide you with an amazing opportunity to make money.