When you’ve dedicated yourself to a business - whether started from scratch or taken on at a later date - it’s not always easy to make the decision to sell. Unfortunately, there’s no one who can make that decision for you, but if you carefully consider your options you can ensure you feel comfortable that you’ve chosen the right path.
We’ve explored some of the major warning signs that you should consider selling up, and the factors you should take into account before you make your final decision.
Passion vs exhaustionWhen you launched your new business you were probably filled with enthusiasm and a passion for the industry you were entering. And this passion is necessary when you start up a new company due to the many hours you will need to dedicate to it to ensure it is a success.
Out of your depthYou may have had the perfect skillset when you took on your business, or perhaps you feel you’ve developed the skills and knowledge you need during your time in charge of the company. However, this doesn’t mean you’ll always be the right person for the job.
An ever-changing industryThe rapid advancements of the modern world mean industries are constantly having to adapt to new ways of working and thinking. No longer able to remain content with the status quo, modern business owners have to stay ahead of the next big industry advancement or trend if they want to stay afloat.
The perfect opportunityPerhaps you’re quite happy in your business, but that doesn’t mean you can’t sell up if the right opportunity presents itself. Whether you’re offered enough money to tempt you into retirement, approached by a company with merger plans or even offered the opportunity to start a new business in a different industry, there’s no reason why you can’t make the decision to sell a successful business.
YE21 turnover of £666k. A well-established sportswear brand specialising in water sport clothing. Operating over 10 years, establishing a prominent brand and building up a strong rapport with multiple clients and wholesalers.
Designs and manufactures luxury, contemporary women's clothing. Benefits from a wide-ranging and diverse customer base. Well-developed e-commerce website consistently attracts new and repeat business. Strong second-tier management team in place.
Specialises in providing high-quality, comprehensive electrical installation and support services and has maintained an excellent reputation for its technical expertise and dedication to complete client satisfaction. Works with circa 300 clients pres...
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