But I’m Not Ready to Retire . . .
By Adam Friend | Senior Vice President of Business Development
While wanting to retire and step away is a common reason for a business owner to engage in a sale process, there are many reasons to sell your business other than retirement. Some of the typical reasons include:
- Continuing to work in your industry while taking some chips off the table and diversifying your wealth.
- Tiring of the administrative burdens of running a business, such as hiring and managing people, operations, and a desire to focus more on what you love most about your business.
- Wanting to be part of a larger organization with more resources to grow and compete.
- Reaching a stagnation point and wanting help to get to the next level
- Wanting a partner to share the risk of making additional personnel hires, building a sales team, investing in technology, or geographic expansion.
We have worked with sellers who have faced each of the above issues, in many cases more than one, and find ways to structure arrangements that allow owners to continue to have long lucrative careers with Veritext after the sale of their business. After you sell, you can write your own job description, focus on what you love to do best, and work for as long as you desire.