Businesses in highest demand have repeat customers and are not the Seller personally. That is, a business that the customers identify only as the current owner, where the owner is the business and handles the customer needs, etc., has less value than a business with staff who handles the customer. A professional services business is a good example of this.
The solution is to build middle management while you have time to do so. Middle management should be groomed to be the customer contact. Ideally, a business should have more that one person as the customer contact. If you wait until you want to sell, it will be too late. If you plan to sell in the next few years, start now to get your business ready to be marketed.
If you would like a free confidential conversation about how to prepare to buy or sell a business, please contact me on my cell, 954-579-4687, or by e-mail at bobd@dolansales.com. My LinkedIn profile is at http://www.linkedin.com/in/dolansales, or Google Robert M. Dolan.
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