Is 2024 a good year to sell a profitable business?
If you are contemplating selling your business in 2024, you are probably wondering whether now is a good time.
2023 was a tough climate in which to sell a business. Inflation and interest rates were the highest they have been in over 40 years. So, it was much more challenging to get a bank loan.
And buyers had larger payments to make for buying the same-priced business a year ago. So many sellers didn’t want to sell at reduced prices.
However, in 2024, interest rates are coming down, and the economy is starting to enter a goldilocks period where the economy is growing but not at too fast of a pace where inflation and interest rates are expected to bounce up.
As a result, the stock market and valuations for private and public companies have risen in anticipation of 2024 being a good year for business.
Market Conditions are right for selling a successful company in 2024
So, if you own a profitable company, 2024 is an excellent time to sell your business. In fact, as of January 26, 2024, we have already sold 4 businesses. This is an average of over 1 closing per week. Many of the industries that we focus on have businesses that are doing very well. These include technology, healthcare, distribution, construction, manufacturing, services, and transportation.
We represent sellers, and our clients have been capitalizing on the favorable market conditions. We recently closed a number of deals with multiple offers. This allows us to create a favorable bidding situation that maximizes our seller’s price.
When to start the process of selling your business in 2024
If you would like to sell your company in 2024, the time to start the process is now. Although we sell some companies in only a couple of months, on average, it takes 6 to 12 months to sell a business.
You’ll want to fill out our contact form now so we can help you prepare. We can sign a confidentiality agreement so that you can provide us with your financial information and details about your company. Then, we can provide you with a free evaluation and proposed selling price.
If you want to move forward with us, there is no fee until your company is sold. Because of this, we only take on clients that have a net income of $250,000 to $20 Million+ in the industries that we service. We have buyers for these types of companies, and we’re confident in our ability to get offers for companies in these sectors.
How are we looking in 2024?
Our pipeline has never been bigger. We currently have 35 accepted offers, so we believe that 2024 will be our biggest year yet. Demand is very high for profitable companies with good growth prospects. Particularly those with repeat customers and a solid, experienced team of employees and management.
What company do you want to sell in 2024?
Synergy Business Brokers has potential buyers looking to purchase profitable companies in every industry segment that we focus on. In fact, we have 35,000 potential buyers throughout the US and overseas. In addition, we have a 15 step marketing process to maximize your sale price and find the right buyer confidentially.
Synergy Business Brokers has won many awards as a top business broker in the country.
Contact us To Sell Your Company In 2024
Many people ask us when the best time to sell a business is. This is an optimal time to sell your company. We offer a confidential consultation. We’ll discuss your business and give you an idea of a selling price to see if this is something you want to move forward with. If you do and we feel we are the right business broker for you, we will invest in a comprehensive marketing program with no fee until your company is sold.
Please fill out our online form and get started today.