Selling a business in Port Charlotte is to unload your baby in the mecca of retirees in Southwest Florida.
This unincorporated community in Charlotte County had a population of 54,392 according to the 2010 census. It was listed as one of the “25 Best Places to Retire in 2015” by Forbes. In 2009, Port Charlotte gained accolades at the top spot in a CNN/Money online poll of the 25 best places to retire.
Surely, as a top retirement destination, one would find a pantheon of businesses for sale to help aging boomers in Port Charlotte.
In fact, according to Livability, health care, educational services and social assistance is 23.7%, the highest percentage of all industries in Charlotte County.
Retail trade at 20.5% is the next highest level of total industry in Port Charlotte.
So, when selling a business in Port Charlotte, you’re likely to putting a retail establishment or health care-related venture on the block.
See this earlier post that discusses a simple online calculator for arriving at a ballpark figure of what your business is worth.
For a more precise figure of the value of your business, consult a trusted business broker like Truforte Business Group who have been selling businesses for over 25 years.
Businesses run by an owner with sales of $1 million or less generally sell for the value of the assets and one to three times the earnings.
If earnings are surging, expect a valuation at the higher end. If earnings are falling or variable, expect a selling price at the lower end.
When selling a business in Port Charlotte, if your company falls between the $1-10 million range, expect a selling price of straight earnings multiplied by a factor of two to four.
If earnings are consistent and growing, expect a higher multiple. If sales are dropping or unsteady, expect a lower variable.
These guidelines are shorthand advice. You need to consult a skilled business broker like the advisors at Truforte Business Group who will do a thorough investigation of the financials to derive an accurate business valuation.
Selling a business in Port Charlotte at the high end for over $10 million, specific industry criteria often determine the business valuation. At this level, buyers will scoop up your company and pay for its market share, the rights to its patents and processes, additional product lines and the benefits of strategic or administrative consolidation.
For more specific information on selling a business in Port Charlotte, the heart of retirees in SW Florida if not the entire United States, contact a Truforte Business Group associate by filling out the form below.