The fourth reason most owners try to sell their business is due to changes in the marketplace. These can include the need for expensive new technology or new equipment.
The printing industry is a dramatic example of how technology can affect a business. Years ago, the Benjamin Ross Group had to rely on a professional printing company to do things that we can do today with our desktop computers and a relatively inexpensive laser printer. Many printing companies came to us to sell their business when they did not have the funds to upgrade their equipment.
In most cases, an infusion of cash is needed to meet these challenges. Alternatively, a merger or acquisition of the business sometimes is the best answer in such situations.
If you are thinking about selling your business, please contact the Benjamin Ross Group to speak with a business broker who can help you start the process.