Don’t Miss Selling a Business in Florida While the Market is Hot

Due to demographic and generational changes at work in the sunshine state, statistics show there is no better time to explore selling a business in Florida.

In Florida and elsewhere, market gyrations make selling a business ideal. Deals are happening and financially sound businesses are being snapped up. The selling climate is as a hot as a steamy summer day.

Consider:

• $10 trillion worth of businesses will change hands by 2025, according to Pew Research
• $3.6 million is the average small business annual revenue, according to Entrepreneur.com

Boomer or Bust Fueling a Frenzy of Selling

The selling fever has something to do with Baby Boomers who are looking to exit the stage into retirement. Statistics support this generational change:

• A Baby Boomer small business owner is turning 65 every 57 seconds and that will continue for the next 17 years, according to APEX Exit Advisors
• Retirement (34%) is the top reason why owners sell, according to Businessforsale.com

Selling a Business in Florida Is All About Growth

The sunshine state is home to beautiful weather and fast growth, ideal conditions for selling a business in Florida.

Boomers are already heavily concentrated in the state and doing deals, as the numbers show:

• Florida is the fastest growing state in 2019 behind only Texas with 15.30% growth since 2010, according to worldpopulationreview.com
• There have been over 565 businesses sold through business brokers in Florida in the first half of 2019, according to the Business Brokers of Florida

What Are My Options?

Now that you see the timing is propitious, what do the exit planning scenarios look like?

There a few options.

• You can leave it to your estate. You may avoid the headache of selling but you gain little in the way of value.
• You can liquidate the business, sell off the physical assets and walk away without capitalizing on the goodwill of your business including intangible assets such as reputation and clientele.
• You can give or sell it to your children, presumably for cash. The business stays in the family but at what cost?
• Or you can sell to a third party while the business still is profitable, the best option to capture the value of your equity.

Selling a Business in Florida? Consult a Business Broker.

The last option is the best to maximize the benefit of what you have built over a lifetime. Yet, according to national statistics, only 20% of all businesses for sale in the United States actually sell.

With this statistic in mind, we suggest you consult with a business broker to facilitate the sale of your business in Florida.

The Brokers at Truforte Business Group has been confidentially selling Florida businesses from $25K to $25M for well over 25 years. Fill out the contact form below if you would like to speak to one of our advisors about selling a business in Florida.