Selling a Business in ’21
“Pandemic Proof,” is a term that gained a lot of traction in 2020. The term refers to the lucky 25% of small businesses in the U.S. that remained unaffected or even thrived during COVID-19. Of course, despite progress, the pandemic continues to bring a wave of uncertainty, especially for owners who are considering listing their business for sale.
The fact that a buyer’s market will most likely continue into 2021, may cause some owners to delay selling until next year, at least. But, if your business has proven itself to be “pandemic proof,” now may be a perfect time plan your exit strategy. Robert Morrison, Business Broker at South Florida Business Brokers by Sunbelt says, “Buyers should not expect to pay any type of discount for businesses that continued to thrive during coronavirus.”
Even restaurants, one of the sectors hit hardest in 2020, managed to account for 20% of small business sales. Smart restaurant owners found ways to pivot their business models; and use government incentives to sustain sales. These factors likely nudged buyers into making purchases in an uncertain market.
No matter what type of business you own, it’s important to weigh your options carefully before deciding to sell. The first step is consulting a professional Business Broker who can provide a free valuation of your business and help you better understand the current market conditions. Robert Morrison and South Florida Business Brokers by Sunbelt can help you understand the sale process and close your transaction for top dollar. Call (754) 300-8651