Selling a failing business?

[glitch]

Have you ever had a business that was starting to fail be it an online store, website, forum, or offline business and decided to sell at the right time? I know a lot of people manage this and manage to at least make something before it is worth nothing.

 

[Mostee501]

Selling a failing business can be a challenging task, but it's not impossible. Some steps to consider if you're thinking about selling a struggling business are access the current state, seek professional advice, improve the financials, determine the appropriate price, be transparent with buyers.

 

[Grant]

I haven't had to sell a failing business, though I have sold failing websites in the past if that counts? Either way, I think if I had a failing business, I may consider selling, but it would take me a lot to make that happen.

 

[Good-Person]

Selling a failing business can be a challenging task, but it's not impossible. Some steps to consider if you're thinking about selling a struggling business are access the current state, seek professional advice, improve the financials, determine the appropriate price, be transparent with buyers.

There are many people who may buy such kind of business if the idea and the nature of the business suits them. They may purchase such kind of business and make it successful. Having said that, the current owner of the business may not be able to manage the business and this is why he may be selling it.

 

[Heatman]

If you have done everything possible to revive the business and make it to be profitable again but it is not working, I believe that the right call of action is for you to cut your losses and sell the business if you have a good buyer.

 

[Frank]

If you have done everything possible to revive the business and make it to be profitable again but it is not working, I believe that the right call of action is for you to cut your losses and sell the business if you have a good buyer.

I agree with you on that. There are some times that it is better to sell off the business once you are not getting the results that you expect from having the business. The truth is that it may be as a result of your limited expertise that is making the business not to grow to the needed level too.

 

[Kane]

I once had a restaurant, and when I started making losses, I decided to sell it but I could not find buyers. Therefore, I had to liquidate it. Interestingly, after paying off the debt from the money I collected during the liquidation process I still had something left. So, even when the business failed, I made some profits

 

[Heatman]

I agree with you on that. There are some times that it is better to sell off the business once you are not getting the results that you expect from having the business. The truth is that it may be as a result of your limited expertise that is making the business not to grow to the needed level too.

My mentor will tell you that there is no point in beating a dead horse and this is the reason why when your business has presented itself as a dead horse, the simple thing for you to do is to find someone who is willing to invest in buying the business from you no matter the price and you just let everything go.