Welcome to the forum! Good question.
It is very hard to know exactly when your business is at its peak. I believe you have to be very aware of the growing trends and watch to see just how long they last through previous examples. It also depends on the type of business. Not every business is connected to a trend.
Curious to see what some of our other members have to say.
Good points Melinda.
Every business will be very different depending on many factors like industry, how long the business has been running, sales trends, etc.
One issue I see quite often is when all signs are indicating 'now' is a perfect time to sell, but you, the business owner is not ready........
Once the business owner believes it is the right time to sell their business, there are 2 main paths one can follow. Selling a business with a broker, or the more popular option is to sell privately.
Over the past 5-6 years there has been a huge boom in selling businesses privately. Obviously there are many advantages to selling a business privately, and not having to pay broker fees or agent commissions is the main attraction.
Also, thanks to the power of the internet, there are many high quality business for sale sites to choose from depending on your location eg. bizlistings.com.au/sell-business.html or http://www.bizbuysell.com/sell/ just name name a few.
Being the owner of a business for sale website at www.bizlistings.com.au/sell-business.html, I am always getting asked the question 'when should I sell my business? At it's peak or not?
There is always a market for business sellers whether a business is booming or not, the hard part is knowing the exact point your business will fetch top dollar.
I'd love to hear some examples and experiences of business owners selling to soon or too late?