They say that selling your house is one of the most stressful things you can do, but what about selling your business? By comparison, selling your home is currently a walk in the park – the property market is buoyant, prices are rising and houses are selling before they are even listed.

Unfortunately, without the right planning and advice, selling your business could be more like a walk through fire. Here are some of the reasons why:

90% of your wealth could be tied up in your business

You’ve put a lot into your business, but getting much of it back out can be tricky. Selling your business could open the door to a new life. Can you be sure that what you find through that door is what you hoped for, or that you will even be able to get the door open?

Only 20% of small business available for sale each year actually sell

It’s a crowded market out there. How do you make your business stand out from the crowd as an attractive proposition? Is there anything you can do to help your business win such a competitive beauty pageant?

88% of business owners think their business will stay in the family. Most are wrong

In fact, only about 30% of family-owned businesses survive into the second generation, 12% are still viable into the third generation, and only about 3% of all family businesses operate into the fourth generation or beyond. If your own family won’t take on your business, who will?

There are 40% fewer potential buyers for your business

As the baby boomers head for retirement, who is going to swoop in and take on the business the boomers are looking to sell? Generation X is 40% smaller than the post-war generation. Are there going to be many potential buyers with the money or the skills to take on your business?

Over 620,285 new businesses are registered every year

This is very much the era of the startup, with well over half a million new businesses registered with Companies House in 2017. This figure has grown year-on-year since 2012, and this growth is likely to continue in future years. It is not just Generation X that have caught the startup bug, the Millennials are getting in on the act too. With technology making starting a business easier, quicker and cheaper than ever before, why should anyone buy your business when they can simply start their own?

Over 50% of owners who try and sell their business alone will fail

It’s important to get the right help when selling, so your focus can remain on keeping your business successful. Many business owners don’t understand the negative repercussions, such as losing key staff or customers, that can occur when they refocus their time and energy on selling their own business. Will this be you?

Businesses that go straight to market sell for only 70-80% of the original asking price.

While you can get 95%+ of your asking price when selling your home, selling your business is a different matter. Canny business buyers will know that your business is likely to be overvalued. You need to make sure you get the right advice, but can you manage your own expectations and leave emotion at the door?

75% of former business owners regret selling their business

Even if you do get the door open, sell your business and move on to the next chapter in your life, it is not uncommon to feel remorse. Maybe you feel you sold the business for less that it was worth, or that the buyer does not value your staff, or will not protect your legacy? What can you to ensure that your future is not tainted with regret?

For answers to these tough questions and more advice selling your business, contact us  0117 379 0117