Property investment: is it really the right reason to sell your business?
There are many reasons why business owners decide to sell their businesses. For approximately half our clients, the reason is simple: retirement. But for the other half, they are not retirement age and the reasons for selling are more complex. Some have become bored with the status quo and just want a change of direction, some are looking for their next entrepreneurial project, some have taken their business to a certain level but do not have the appetite to grow the business further.
Whatever the reason, an important question is what do they want to do next, once the business is sold?
A common response we hear is “I would like to invest in property”. There seems to be a common conception that property is easy - anyone can do it. As the following article from Business Matters Magazine suggests, there are many pitfalls to avoid.
Granted, most business minded individuals can understand the property market, but if you have created and run a successful IT support company, marketing and PR agency, or any other B2B service sector business, would managing a property portfolio really keep you interested?
An important factor in achieving a successful sale of your business is knowing what you want to do next.
Please call us and talk about your future plans. We may be able to suggest alternatives that you had not thought of.