If you’ve managed to do a fair job of growing and monetizing your internet business, you might be keen to sell it and move on to the next project. But with the economy still in a slump, you may wonder if now is the right time to move ahead with your plans for a sale. After all, can you really hope to get the number you have in mind when companies are still laying off employees and enacting cutbacks and individuals interested in buying might not be able to secure loans? In truth, there are always people with money looking for new ways to invest, even in a recession economy. And if you happen to have an innovative product or service that the public is clamoring for, not to mention a proven track record of sales and growth under your belt, you’re sure to interest the right people. However, there are a few things you should certainly consider before you go ahead and sell your business.
For starters, you really need to think about whether or not you’re ready to sell. How badly do you want to get out from under the demands of your operation? If business is flourishing, you may not find another opportunity that offers as many possibilities for the future. You could expand, hire help to reduce your workload, and continue riding the gravy train to the next level rather than taking a paycheck and watching it slip away as you fail to find gainful employment after the fact. Even if you’re tired of working your butt off to make your business the successful operation it is, you have to consider that finding a new job in a recession is no easy feat, so you might not want to give up your steady income until the market has rebounded.
On the other hand, you stand to interest the most buyers and make the best profit when your business is on top. Even in a recession there are people with money to spend, and your business could represent a sure thing, at least in the short term. But nobody knows what’s coming tomorrow. You could lose the public interest or simply get ousted by the next best thing. In other words, your business could be devalued through no fault of your own. In addition, you might simply be burned out and looking for a change. Either situation could influence your decision to sell.
Of course, you’ll also have to contend with the marketplace. You no doubt have a number in mind when it comes to the value of your business, and you have to seriously consider what kind of offers you’re willing to accept should you fail to get your asking price. The value of your internet business is somewhat arbitrary. Even if you’ve based your numbers on hard data concerning the net income of the operation, the marketplace will determine what it is actually worth. It’s not like trying to get money for structured settlement, where you are likely to see a set percentage of overall value. The sale price of your business will depend largely on the number of interested buyers and what they’re willing to pay. So before you set your heart on selling, consider first whether or not you’re ready, what you stand to gain (or lose) in the process, and how much you’re willing to compromise in order to unload your business.