From timing and financial readiness to tips on preparing a business for sale, Chris Spratling, author of The Exit Roadmap, explains the key issues for business owners
If you’re a business owner, chances are you’ve asked yourself: ‘When should I sell?’ The question seems simple, but in reality, it is layered with personal, financial, and operational complexity.
Timing isn’t just about market conditions, it is about preparation. It is important to distinguish between two critical forms of exit readiness: seller readiness and business readiness. Both are essential. Without them, even the best-timed exit can fall short.
The timing myth
Too many business owners wait for the ‘perfect’ moment - when profits are peaking, markets are strong, and buyers are abundant. But the truth is, very few businesses get this timing right.
According to the Exit Planning Institute, 70–80% of businesses that go to market never actually sell. That is not because they are not good businesses. It is usually because the owner has either waited too long or entered the process unprepared.