Whilst some transactions are taking longer, we have seen very little reduction in the number of leads coming in for businesses that are on the market with us. In fact, over the Christmas period, we still had our usual influx of leads ready for January.
Following the successful launch of our online buyers portal last year, we now have a database of potential pre-qualified buyers waiting for their perfect business.
Why is now the right time to put your business on the market?
There are buyers waiting
We have experienced an influx of buyers enquiring to buy a franchise resale. We have a huge demand for businesses in the domiciliary care sector, the lawn care sector and the food & beverage sector. Many buyers enquiring with us are re-evaluating their situation and are looking for a career change in the form of a franchise resale.
This is your market
There are worries that as a result of the pandemic, we are in a buyers’ market and whilst this may be true in some respects, for businesses that have followed their plan and are now in prime position to sell – this is your market.
If you have been working towards selling your franchise and your business was fortunate enough to continue trading during this time – you can still achieve the price you want for your business. You might consider putting off the sale of your business, but this will only delay the potential to find the perfect buyer. By putting your business on the market now, you can begin the search for a buyer, but you are in the position to reject any offers that are not satisfactory.
There is no doubt that people may offer a lower price for your business, but you can choose to hold out for the right one.
Is 2021 in your plan?
If 2021 is the year you had planned to sell your business, then now is definitely the right time to put your business on the market. You can hold off putting your business on the market, or you can hold off for the right price. Either way, you need to be prepared to wait for the price that suits you and the buyer. It can take up to 18 months to sell your business, so it won’t hurt you to test the waters.
Get in touch with us today and find out about getting your business on the market, starting with a free market appraisal. Call us on 01522 246811.