Discover how the recent trend of business owner headaches could signal a prime selling opportunity. When the exhaustion becomes overwhelming, business value suffers just as much as your peace of mind.
In our latest conversation with Joe and Chandler, we highlighted how in the past few years, business owners have been bombarded with a wave of seemingly never-ending challenges and obstacles:
Pandemic Mandates & Restrictions
Supply Chain Disruption
Understaffing Issues
Rising Inflation
Looming Recession
Remote Work Accommodations
Work-Life Balance
Just when it feels like things are settling into a new normal, unforeseen stressors derail routine. Naturally, these disruptions are contributing to significant levels of exhaustion.
"Nearly half (47%) of business owners report feeling run down and drained of physical and/or emotional energy." — Capital One Business study
This lines up with our conversations with business owners, although Chandler notes that the figure seems to be well beyond 47%. Regardless, the incessant challenges have taken their toll and left business owners feeling burned out. As the conditions worsen, their passion fades. Pretty soon, it’s just not fun anymore.
Selling becomes the obvious answer.
Couldn’t Be Me!
For business owners who refuse to even think about selling, understand that the exhaustion can become too much to bear very quickly. It’s extremely common for business owners to come to us saying “Even a year ago, I couldn't have imagined getting out, but I’m just too tired to continue.”
"~80% of small business owners didn’t have an exit plan the year before they put their business on the market. Among larger businesses, $5M to $50M, 67% of owners didn’t have an exit plan." — IBBA Survey
To make matters worse, when business owners try to fight through the exhaustion, it can severely deteriorate the profitability of the business and thus, drastically reduce the eventual sale price. "When you are not motivated and you've lost your interest," Joe explains, "that is going to directly impact the operation. There's just no way that it doesn't."
Great athletes know to exit at their peak. When athletes refuse to hang up their cleats, their final years scarcely leave a positive impression on their careers and legacies. Think Brett Favre's infamous un-retirement or Michael Jordan's uncharacteristically boring stint with the Wizards.
Selling ≠ Retirement
Not surprisingly, retirement is the #1 reason most business owners give for putting their businesses on the market. But selling your business doesn’t necessarily mean you need to retire.
In fact, we would advise you not to retire. Rather than traditional retirement, we advocate for repurposement. We encourage our sellers to pursue their next purpose, whether transitioning into another business or industry, engaging in a consulting or mentorship opportunity, volunteering in the local community or church, or exploring any other passion they may have.
The bottom line is that we want to help you sell your business, whatever your reasons are, to advance to the next stage of your life, whatever that may be.
About Robbins Pellegrino: Robbins Pellegrino is a Florida-based business brokerage firm led by Chandler Robbins and Joe Pellegrino, Jr. that is committed to redefining industry standards. We focus on creating meaningful partnerships and ensuring successful business transitions for both buyers and sellers. For more information, visit us at www.robbinspellegrino.com or call (239) 360-6273
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