Raleigh-Durham, NC – Selling market is robust, but owners need to be realistic.
By Virginia Bridges – firstname.lastname@example.org
Small-business transactions across the nation remained strong in the first quarter of 2015, continuing a two-year trend of robust activity in the business-for-sale market, according to a report from BizBuySell.com, an online marketplace for companies to be bought and sold.
In Wake, Franklin and Johnston counties, BizBuySell analyzed 52 closed transactions in 2014. Businesses sold for a median sale price of $225,000. On average, they sold at 90 percent of the asking price.
The transactions and median asking price are down a bit compared to 2013’s numbers of 63 closed transactions at a median selling price of $237,500. Jeff Snell, founder and principal broker at ENLIGN Business Brokers in Raleigh, said those numbers don’t reflect a declining market but a different mix of businesses going up for sale each year.
However, if you are hoping to sell your business, there are a couple of mistakes that you should avoid, Snell said.
Bob House, general manager of BizBuySell.com and BizQuest.com, said the numbers vary, but he estimated only 10 to 50 percent of businesses that are put on the market actually sell.
Owners who are considering selling should be paying […]