One of the first questions a potential buyer will ask is why Owner is selling?? Did the business did not go well? Owners commonly sell their businesses for any of the following reasons:
- Retirement:
- With the development of South Florida there are many business owners whose children have chosen professional careers and do not take over their parents business.
- Partnership disputes
- This is a very common reason for sale when there is a partnership. It is very well known that maintaining a partnership for a long time is very difficult.
- Illness and death
- Becoming overworked
- Some business owners have avoided hiring help in order to make more money, resulting later in extreme exhaustion that leads the owner to sell and look for a less demanding business.
- Boredom
- This reason is more common that what everyone thinks. Business owners usually start their business with a lot of energy and enthusiasm but over time they get bored of doing the same thing every day, once the challenge of building the new business is over.
- Divorce
- Usually divorce leads to selling the couple assets and dividing the proceeds 50/50.
- Not profitable
- This reason attracts buyers that have experience in the business and can get into one without the waiting time to establish one from scratch. However it is common that sellers have expectations to receive a higher amount than what the business is worth.
