Top 3 Reasons Business Owners Sell

According to a nationwide survey of brokers, the third most common reason business owners sell is for New Opportunities. Burnout, which used to rank third, has moved up to the second spot, especially after the impact of COVID-19. The leading reason remains Retirement, with many Baby Boomers looking to exit their businesses. While retirement and new opportunities are generally seen as positive reasons to sell, burnout might raise concerns about the business’s performance. It’s crucial to have a strong reason for selling your business.