In the world of business brokerage, not every listing results in a sale. So… what happens if your business doesn’t sell? This is a reality for some businesses. Here’s what my team and I do to help clients who face this reality.
Firstly, I cannot emphasize enough that it’s essential to remain patient and resilient. Then, my team and I will consider re-evaluating marketing strategies and consider adjusting the asking price or terms to attract more potential buyers. Alternatively, exploring the option of restructuring the business to make it more appealing to buyers is also an option.
Oftentimes by virtue of trying to sell a business, feedback will be given from potential buyers as to why it isn’t as attractive to them and thus taking that feedback and acting on it can make it more attractive…. and in some cases, if the feedback is addressed effectively, even sell for more!
Secondly, If selling isn’t feasible in the current market conditions, I tell clients to focus on enhancing profitability and operational efficiency to increase its value for future sale attempts. Partnering with an experienced business broker and other advisors can provide valuable insights and guidance in navigating this process effectively should you not have success selling the first time.
Ultimately, whether your business sells or not, it’s crucial to stay proactive, patient, and adaptable in order to maximize the business’s potential value and success.
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