Timing is everything.
The market is on an upward trend.
Aside from considering growth trends, when is the right time to sell your business? How the market plays out is a huge factor when deciding to sell your business. Is your industry currently booming in the market? How are the stocks? Have there been a lot of acquisitions and mergers?
These are all market factors that you must consider before selling your business. Ideally, buyers would want to acquire a business that has a lot of upside in the market. If your business has performed well compared to industry and market statistics, it has a lot of value that buyers will be interested in.
You are looking for a change of scenery.
The third factor, and arguably the most important, is how you feel about selling your business. Are you looking for a break from your business? Do you want to move on to a different industry? Have you planned your next steps in your career and personal life?
A lot of business owners have sold their businesses due to career and lifestyle changes. Some have also sold because of burnout and lack of motivation. Determining why you want to sell your business is equally important with knowing when is the right time to sell your business. You need to considering market trends and the right time to sell as well as your reasons. Once you are decided on selling your business, it will be a lot easier to find the right buyer who will continue to value and grow your business as you have.