March 27, 2009
After a mild downward trend in the fourth quarter of 2008, and an absolute dearth of new buyers in the nine weeks since the inauguaration, we just now starting to see buyers jumping back in the game.
Has there been a better time? There has always been a steady stream of sellers. The laws of supply and demand tell us there will be weary sellers out there willing to lower their price because they are eager to retire or move on.
My Advice?
If you are a seller, remember your motivation. Why do you want to sell? If money is the motivator, you must remain patient and continue to manage and grow your business. If getting out is your motivator, like I said, we are once again seeing buyers willing to pick up bargains slightly below historical multiples. And, given the credit situation, you must be prepared to finance a significant portion of the transaction.
If you are a buyer, now is a great time to look at what is out there for you. There are many great businesses with motivated sellers who will finance the sale. Cash deals draw a lot of interest from sellers and are frequently discounted.
Call or email me at 800-599-0503 or eric@bluechipbizsolutions.com if you are a motivated seller or buyer and let me help you move on to, or into, your next life.
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