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Survey Says...3 of 4 Business Owners Plan to Sell Soon
zman
subscriber Posts: 1
From the Small Business section of today`s LA Times:
Three out of four business owners expect to sell their businesses within 3 years according to a survey by GW Equity and the University of Dallas Graduate School of Management. 200 business owners were surveyed representing compaies with annual revenue between $1 million and $150 million (anyone here approaching the 150 level ). The article also referenced a booming market in private company sales, and 82% of the business owners reported that they had been approached "recently" about selling their business.
Just curious if anyone here has anecdotal evidence to bear out these reported exit strategy trends. Separately, since there are so many SuNsters (did we ever decide on an official nickname?) who are delivering services and their own expertise rather than conventional products, I was wondering what kind of exit strategy discussions and plans these businesses have. Thanks.
Michael
Three out of four business owners expect to sell their businesses within 3 years according to a survey by GW Equity and the University of Dallas Graduate School of Management. 200 business owners were surveyed representing compaies with annual revenue between $1 million and $150 million (anyone here approaching the 150 level ). The article also referenced a booming market in private company sales, and 82% of the business owners reported that they had been approached "recently" about selling their business.
Just curious if anyone here has anecdotal evidence to bear out these reported exit strategy trends. Separately, since there are so many SuNsters (did we ever decide on an official nickname?) who are delivering services and their own expertise rather than conventional products, I was wondering what kind of exit strategy discussions and plans these businesses have. Thanks.
Michael
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Comments
I hear ya, but get real - I know how outrageously expensive cigarettes have become, but $20 mil must at least buy you some nice meals and wine to go with the smokes.
Clearly for many of us, our present situation is very micro, with very limited revenues, but long on passion. My intention wasn`t to literally adopt or apply the definition of small business used by the study - but rather to spawn a discussion about exit strategies and whether and how that plays into our thinking.
At the same time, if you look at the "Key Moves for Success" stories posted on SuN, they seem to be mostly about entrepreneurs who started as micro-businesses -- and many of them have revenues well over $1 million. Plus I`m sure there are entrepreneurs among us who certainly believe that`s an attainable goal - not an impossible dream.