Now why would someone sell their own business if it is making money? Why sell something that you work so hard for a number of years and only sell it in the end? Why not pass it on to your heirs? Lot of questions and concerns but most business owners and entrepreneurs go to this route. Why? There are things that is more valuable than their well loved business – that is “TIME”.
Yes, Time is more important than business and money. You may lose your business and lose money and still have a chance for you to get it all back. But with time, there is no going back.
There is no time machine that can bring you to the past to correct your mistakes. That is why most business owners, especially those who are in their late 50’s and 60’s, sell their business to get something in return. And I’m not talking about money, what I’m talking here is gaining more time and freedom – lots of it.
When an entrepreneur sells their business, they will receive a large sum of money from the business acquisition. The entrepreneur then can divert the money that they received and invest in passive income tools like Real Estate, Mutual Bonds, Stocks, etc.
Some of them even get a share of the business that they sold and get a few percentages of the monthly sales. But that depends on the agreement of the business owner and the new buyer. Others make new business with the funds that they received making them wealthier in the long run.
So you see, it is not as bad as people think when it comes to selling a business. In fact you gained much more from it. It is best to build a lot of business and watch them grow. You will have the pleasure to sell it in the future if you decide to move on to other “better” financial venture.
You can even dictate the price of your business. Since it is an established one, you should price it high and let the buyers negotiate with you.
Even if you reached an agreement on the price you will still earn a big margin from selling your business because it’s hard to lower the price of an established business.