The 2017 SHOT Show has come and gone, and with almost 65,000 attendees, it was the second most attended show ever! Just over 20% of the exhibitors at the show were new this year, and to say that there has been tremendous growth in the industry is an understatement.
Have you ever noticed that fire trucks always back into the fire hall?
Ever thought about why they don’t they just pull into their parking spot snout-forward like the rest of us?
Backing in at the end of a shift saves them time when they have to get to a fire. They back in to be ready; whether the call comes in 5 minutes or 5 days, they are prepared to pull out as quickly as possible.
Likewise, you, as a business owner, need to be ready when you get the call from someone who wants to buy your business. And these days, owners are getting that call more often.
EY Capital, a global leader in assurance, tax, transaction, and advisory services, recently published their Confidence Barometer Survey. They interviewed 1,600 executives from 72 countries. The executives represented companies from 20 different sectors. Here are a few statistics from the EY Capital report:
- 69% expect global deal volumes to improve
- 35% plan to pursue an acquisition
- 65% see the global economy improving
All things are pointing towards more deal activity in the next year.
Selling a business and walking away can be very difficult, because most privately held companies are dependent on the owner. In most cases, there’s a transition (“training” or “consulting”) period dependent on the size of the company and the role of the owner. Transitions may be as short as a month or two or as long as a year. In most situations, the buyer wants the seller to remain on board to shorten the learning curve and help with the smooth transfer of key relationships.