21 Jul Proof you can sell a business a coronavirus era. Even a non-essential one.
Can you sell a business in Tampa Florida during the COVID-19 era? When is the best time to sell my business?
Much of that depends on your personal circumstances and your desires. The question has been on the top of many people’s minds due to the recent impact of the coronavirus.
We recently helped a fitness center owner sell a business in Tampa Bay. He had been transferred to the West coast with his full-time job and he needed a business broker in Tampa to represent his business confidentially.
The coronavirus had forced many fitness centers to close down for a while. People were working out more at home. He had his brother overseeing the business on a day to day basis, but the brother was not really passionate about the fitness industry. Sales were sliding downward. The owner reached out to BuyBizUSA.com and Legacy Business Brokers of Tampa Florida for help.
- The owner was motivated but he was clear when he said, “I want to sell my business, not give it away”
- A great deal of planning and being prepared helped our business broker of Tampa team bring several individuals looking to buy a business in Tampa Bay
- He worked with the landlord to allow us time to find someone ready, willing and able to buy a business like this
- His accountant helped keep the financials up-to-date and available
- Eventually, the perfect person came along, negotiated an acceptable deal, and is excited about taking the business to a whole new level
Recently closing on the sale of this fitness center in Tampa is proof that you can sell a business in all kinds of economic conditions.
It helps to plan and start early.
Forbes magazine, the Exit Planning Institute, and BizBuySell show that only one or two out of 10 businesses that go on the market ever sell. Here are a few tips to improve those odds:
- be properly prepared
- be realistic regarding price and terms
- be able to defend the true value of your business
- show how your business stands out from the other businesses for sale
One way or another we all end up leaving our businesses. Your business is a legacy representing years of hard work and ingenuity. It can be quite satisfying for you to cash out successfully and see your legacy continue to serve customers, provide jobs, and support communities.
Take action now and reap the reward for sharing your business legacy. If you have any questions or comments, we are always ready to help. Would you like more details about how you can sell a business and get a great price?
Get your FREE copy of our eBook on How to sell a business for a great price.
Also, request your Obligation-Free “how to sell my business confidentially” consultation.
You can speak to a Legacy Business Broker in Tampa today at 833-BUY-BIZ1.
OR text SELLMYBIZ to 22828 right now.