Competition may be fierce here…
Selling a business is an involved process. The field may be very crowded for business owners trying to sell their Oklahoma business in the next few years. Russell Evans, economist, says that 60 percent of Oklahoma middle market businesses are at least 30 years old, compared to the national average of 53 percent. This statistic is according to an article published in The Journal Record. http://journalrecord.com/2016/02/10/states-middl-market-firms-tend-to-be-older-than-national-average-general-news/
“The average family business lasts 25 years; only 40% of the businesses go to the next generation. ” Frederick D. Lipman, The Family Business Guide, 161
There are 78 million Baby Boomers that will retire in the next few years. They own more businesses than any generation before them, or probably than any in the future. These boomers own more than 10 million businesses, 60% of whom will try to sell their business to third parties. This increased volume has the likelihood of creating a buyers’ market for many companies.
So how will you beat the competition? B2B CFO has a proven 10 step process to position your company to win.
The first step is to assemble an outstanding team of professionals that can guide you prior to and during the exit process. This teams removes obstacles and eliminates distractions so that you can focus on the continued growth of your business. Thus, making it more attractive to potential buyers and getting the best offer. For each $1 that you increase your EBITDA during the valuation year, you should receive an additional $4 to $6 in sale price.
Contact me, CherylAdams@B2BCFO.com , to start the process. It could be the difference that propels your company to the finish line ahead of the competition!