This is a hard question to ask, but only can answer it when it comes down to deciding to sell a business.
Some argue that you should sell when the business is doing well, which can give you the most control over the deal and maximize your profit. However, others argue that the owner should sell when the business is on a non-seasonal downward trend.
Circumstances Determine the Time to Sell Business
Deciding when to sell a business depends on the circumstances of the owner, but there are a number of questions that you can ask yourself if you’re in that position:
- Has your business peaked in growth?
- Have you started planning for retirement?
- Do you have the support from your business partners and family? Are they working beside you?
- Do you still look forward to going to work in the morning?
- Is your dream still fun and enjoyable?
When you start thinking and planning the sale of your business before you ultimately decide to sell your business, the rewards for owning the “American Dream” will be far more satisfying and profitable when everything is said and done.