Selling your boomer business: What’s it worth?
I have seen this over and over as I help young professionals buy practices: The owner of the practice (often a baby boomer) invariably overvalues the practice.
Here is the scenario: You have worked hard to build up your business over 20- to 30-years, in order to leave it to your children (who it turns out don’t want it) or to sell it to finance your retirement. So you value it at what you think it’s worth, including all of your “sweat equity” (I hate that term).
The value for your business is this: A willing buyer and a willing seller, who …read more