Is NOW The Right Time To Buy Or Sell A Business? --TTG158

Business Owners & Entrepreneurs Podcast with Peter Boolkah | Business Coach | The Transition Guy®

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Is now a good time to sell a business? The answer is, it depends! Certain industries, like the medical industry for example, are hot commodities right now. These types of companies are selling for big multiples.
If you're in a "hot" industry, then YES now is a great time to be selling.
However, the reality is that for most industries now is NOT a good time to sell. If you're in hospitality or retail, it's actually a really bad time to sell.
With that said, one person's loss is another person's gain and when it comes to buying a business we're fasting approaching "buy time!"
I believe that by Q2 of 2021 many businesses that are currently being artificially propped up and sheltered from the recession will unfortunately have their bubble popped.
When the economy starts to turn in Q1 or Q2, these companies will really start to feel the heat. Access to cash will become harder and, most likely, their credit ratings will have taken a hit meaning creditor payment terms will change.
As they will be asked to make payments upfront, and managing their cashflow will become harder as cash reserves dwindle, a lot of these companies will be up for grabs at a discount.
If you're a buyer, there will be a lot of potential deals to be had. You'll need to be shrewd with your business valuations. Don't pay over the odds as there will be plenty of excellently priced opportunities.
By 2024/25 as we progress into the next economic cycle, investment will pick up and I think that'll be a great time for selling a business again.
If you're buying a business, or if you'd like my help putting your business for sale in order to get the maximum valuation please get in touch with me at http://www.Boolkah.com
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ABOUT PETER BOOLKAH
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Peter Boolkah (AKA The Transition Guy) is the World’s #1 Business Transition Coach whose main passion in life is to work with talented and high performing business owners who are in the process of creating exciting, high growth businesses.
Peter helps you to navigate and transition through the crucial growth pains that all growing businesses experience making it as painless and exciting as possible.
It is important to remember that businesses do not just grow and develop on their own, it is up to us and our teams to make this happen by making every day purposeful.
As businesses grow some parts of the journey will be easier than others and most owners do not have all the answers. Starting a business is one of the most exciting things we get to do and we all have aspirations of achieving great things. In fact Peter is yet to meet someone who started a business with the intention of failing.
Peter’s ultimate life goal is to inspire and empower over 100,000 Entrepreneurs to create long term thriving businesses resulting in the creation of 1,000,000 jobs.
So if you are scaling up your business, you’re in a bu...