Have you ever wondered why fire trucks always back into the fire hall instead of pulling in head-first like most vehicles?
The reason is simple: it’s all about being prepared for quick action. By backing in, fire trucks are ready to roll out instantly when an emergency call comes in—whether it’s in five minutes or five days.
As a business owner, you need to be just as ready when you receive an offer to buy your business.
Statistically, the three most common reasons owners sell their businesses are:
- A health scare
- Significant financial pressure
- An unsolicited offer to buy their business
As unsolicited offers become more frequent, the need to be prepared grows. Unlike when an owner controls the timing of a sale, an unsolicited offer can come unexpectedly. This means you must operate your business as if an offer could come at any time.
Businesses that are poorly organized, have sloppy bookkeeping, rely too heavily on a few customers, are overly dependent on a few individuals, and lack clear operating procedures are less likely to attract buyers. Instead, they’re more likely to be passed over in favor of businesses that are turnkey and ready for sale.
The time is now to get your company in shape and ready to show when opportunity comes knocking. Haefele Flanagan can help. Reach out the Beth Renga, Director of Consulting Services, to learn how.
