For many business owners, a sale to a third party is their assumed exit path.
Some business owners even start their businesses with the goal of finding a larger, more deeply pocketed buyer, selling the business, and retiring early. The potential to sell the business for cash draws business owners to third-party sales.
If you are considering a third-party sale, do you know the full scale of the planning you’ll need to do to get ready? Those who make plans improve their chances for a successful sale.
While it’s true that many business owners initially intend to pursue a third-party sale as their exit path, it’s also true that many of those same owners choose a different path in the end. There are four challenges you may face in pursuing a third-party sale that may cause to you change your mind, and some of them are unexpected.
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The 2024 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.