Top 25 Tips on When to Sell Your Business from the Pros
5. You Need Cash for Another Business Opportunity
Derek Christian, Owner, Handyman Connection
Some small business owners opt to sell their business because they need cash to start an even bigger small business. If you have plans to start another business that you think will earn more income than your current one, but you don’t have the money for a loan down payment, then it’s better to just sell your current business for the new one as long as you believe that it will be worth it.
If you’re looking to sell your business and buy a new one, check out our article on 1031 like-kind exchanges for tax benefits.