Are you business owner currently surveying the year ahead and wondering if 2021 will be the right year to sell your business? After all, the pandemic has disrupted business per usual and many are still on hold indefinitely. How do you know if you should hold your business or list it?
Opportunity Always Exists
As business brokers with decades of experience in assisting clients with both buying and selling businesses, our team at Alliant Capital has noticed that even in the toughest market economy there are businesses that thrive.
Since last March, we’ve found that certain industries remain “pandemic or recession proof”. Per the 3rd Quarter Report from BizBuySell, these businesses are also in high demand. In fact, according to the numbers, the median sales price for essential businesses grew 20%. That’s a significant increase to consider if your business falls into that category as there may not be a better time to sell your business for maximum value.
Surviving, Not Thriving
For businesses still making profit, even if it’s not thriving from the pandemic, you are still in a golden position to sell. Any business that can survive the conditions of the past year with profit is poised to be even stronger once the economy returns to normal.
Don’t Guess Your Value
One of the most important steps you can take to determine about selling your business this year is to get a professional business valuation. Why guess when you can know how much your business is worth? Whether your sales have jumped or dropped because of the pandemic, you’ll need to factor that into the decision-making process.
If you’re ready to know the value of your business, start here to get a confidential opinion of value.