Interestingly, almost half of business owners were concerned about the value of their company. Of these owners, 31% were not sure if the value of their company was high enough. Those with the highest concern about the value of their company were the Inc. 5000 winners, comprising almost 36% of total respondents..
Some of the most surprising responses to this survey were the almost 18% of business owners who did not know the value of their company. Of these owners, 80% were Inc. 500|5000 honorees. These owners represent some of the fastest-growing companies in America. They know the sales growth of their companies but not the correlation of the growth to the value of their companies.
Almost 11% had issues with management and conflicts with other business owners. There were 7% who admitted that they lacked a management team sufficient to sell their business. Almost 4% of the owners said they have conflicts with other owners within their business.
Find out what's happening in Malibufor free with the latest updates from Patch.
Almost 13% of these high achievers were uncertain about cash issues related to the sale, with almost 7% not knowing the amount of net cash needed from the transaction, and 6% did not know what price to charge for the sale of their company. Both of these issues may relate to lack of information regarding the correct market value of their company, which was a concern of almost 50% of the owners who took this survey.
About 10% of the owners had issues with time and assistance with regard to the sale of their company. Almost 6% said they do not have time to start the process to sell their business, and about 4% said they need help to start the sales process.
Find out what's happening in Malibufor free with the latest updates from Patch.
While there are business owners who think about selling their business, they often have concerns about a sale. There are various reasons for not wanting to sell. When asked about their No. 1 concern about selling their business, almost 18% of owners' answers included being too young to sell, best timing, cannot decide on selling, the economy, and future work for family members.
One owner said his business may have garnered the attraction of one of the major ice cream brands to the point of a possible acquisition. Another owner said he would give the business to his family. Another owner expressed that growth opportunity is huge over the next five years.
What are your plans after you sell your business?
More than 4% responded “other” regarding their plans following the sale of their business. It is not surprising that the answers varied. Some business owners said it is too early to sell their business, while others said they would stay on in their business. There were those who said that after a sale they would start a foundation or run a non-profit organization. Then there were those business owners who said they were “not sure.” The more adventurous of the business owners said they wanted to fly an airplane or simply fly. There were also business owners who said they would like to combine the following: help other businesses grow, take time for themselves, and give back to the community. Some even said they would choose all with the exception of charity work.
What are your concerns about selling your business?
Business owners responded as follows regarding their concerns about selling their business:
Click on the link to activate our Video:
