So, you’ve been thinking about selling your company, but you’re not sure when you should. Timing is definitely important — you want to ensure you’re well prepared to sell, you’re mentally ready to sell, and that market conditions are favorable.
That said, there’s also some truth to the old adage, “There is no time like the present.” Trust us when we say that NOW is the time to buy — which in turn means that NOW is the time to sell! We’re not sure how long this opportunity will last, so sellers should act quickly, and here are three reasons why:
There is an influx of people moving to Florida. According to stats compiled by Move.org, Florida has been the no. 1 state folks are moving to for two years running, with more and more people flocking to the Sunshine State throughout 2020 and 2021. Whether it’s our temperate climate, the COVID-19 crisis, or a bevy of other reasons, Florida is hot!
And simply put, more people equals more buyers and a more competitive sell. With a larger pool of Florida residents at your fingertips, you’re more likely to be able to find the right buyer — and sell for the right price.
Money has never been cheaper. Because interest rates are currently lower than ever, it’s easier than ever to pay off a bank loan. With a low APR that is locked-in, buyers would be paying less over time, which makes it all the more enticing to get that small business loan now.
In addition, small businesses are able to obtain funding through a variety of SBA loan options. The U.S. Small Business Administration (SBA) has made some key changes in recent months, making it easier than ever to acquire a business thanks to capped interest rates and limited fees. (Good news for buyers and sellers!)
We’ve never seen multiples higher than they are now. Market values are skyrocketing, which equates a high price-to-earnings (P/E) ratio, otherwise known as the price multiple or the earnings multiple. Not sure what this means or where to start? Strongly consider the help of a thorough and qualified business broker to learn more and determine your business valuation.
Start the selling process now (and find the right buyer!) — contact the Jacksonville Business Broker today to learn more and receive a free and confidential business valuation.