Ill-health and how it can impact selling a business

We are often asked to help businesses that have arrived at the decision to sell due to ill health. This can be due to the poor health of the owner themselves or of their close family members. It is a story that we hear more often than we’d like to. However, we will advise these business owners to make both a sale and the transition of their business successful, without compromising their ability to support relatives or indeed their own heath.

One of the benefits of using Business Partnership is that we have a wealth of past experiences and business expertise amongst our team. Douglas Craig based in the South East has himself experienced the impact that ill health of loved ones can have on you as a business owner. He says of his experience:

“I recognise the stress and strain business owners are under on a daily basis, and that is only magnified during the decision to sell. I understand only too well the pulls that owners feel between the sale of a business and taking care of those who need you. It’s not a nice position to be in and I would always recommend enlisting the help of a business broker to at least support you through the sale process, to alleviate some of that pressure.”

Ill health in any form can seem all consuming which is why as an impartial third party a business broker can help owners achieve perspective on the position they find themselves in. Time spent planning a business sale with a professional will help you to factor in space for emergencies or unexpected circumstances along the way, without adversely impacting business operations.

Selling a business can be challenging, even in the most straightforward of circumstances. We know that with the added complications that can surround ill health, even the most experienced business mind can be distracted from the decisions they need to make. A business broker can ensure owners are confident throughout the whole sale process, despite what is happening privately.

Douglas spent 17 years as a business owner and has a wealth of knowledge and background in the wholesale food and restaurant trades. We are delighted to have him onboard so that he can help others get the best deal possible for their business. Douglas has the expertise and empathy to work with those who have found themselves in similar circumstances as well as anyone else looking to exit their current business.

If you are thinking about selling your business for any reason, then contact us for more information about how we can help. Just some of the benefits of a Business Partnership business broker are:

–        Able to give impartial and independent opinions of the sale.

–        Understand the process of selling a business of any size.

–        Ability to help put together value drivers about a business to prepare a better sale.

–        Help in managing information to employees and existing client base.

–        Support business owners by being on hand to offer support from start to finish through the sale process.

Why not get in touch and start a conversation.