Reasons Why You Would Sell Your Agency
Today, I wanted to talk through the reasons why owners choose to sell their agency.
- Money, money, money. No explanation required.
- To build something greater by combining forces. This allows an agency to have access to capital and resources which allows them to scale and grow quicker.
- Ready for a change. Every business owner goes through many emotions running their business and their comes a time when they are ready to do something else or retire.
- Struggling with growth. Some businesses grow too quickly or the market changes and now they struggle with growth. They feel that they need help and a possible acquisition could be the answer.
When I think back at the reasons I sold my agency, it was a hard decision. I always had it in the back of my mind that I wanted to sell, but never really knew what it would look like until I went through it. After much internal debate, I sold for several reasons:
- I wanted to build something greater with the capital and resources. 2 + 2 = 8.
- I was ready for a change.
- Money was a nice bonus.
What is the reason you would consider selling your business? What are some other reasons people would choose to sell their agency?