Over the past couple of years, the pandemic created havoc in businesses around the country. Some businesses closed while others found it difficult to retain employees or acquire new inventory. However, conditions are improving in many parts of the county, with one city standing out as a place where recovery is far ahead of the norm: Austin, TX. This article focuses on the Austin Economy- Why Now is the Best Time to Sell Your Business.
During the pandemic, even Austin failed to see growth, with a net loss of jobs during 2020. That’s all changed, with the economy taking off in 2021 and numerous businesses now expanding to meet an increased demand for a variety of goods and services in the region in 2022. Austin is now a top destination for commercial real estate investment, surpassing larger cities that held top growth spots for years prior to the pandemic.
New Growth Sparks a Move to Purchase Existing Businesses
Of course, Austin still has problems to overcome due to the pandemic, but the handwriting is on the wall: anyone seeking to sell an existing business now is in a far better position to do so than they were two years ago. If it’s time to sell your business in Austin, now is the time to contact a business broker to start the process. So, just what’s spurring Austin’s remarkable growth?
Potential Business Buyers Look for Benefits—Austin Has Them!
When anyone explores locations to start a new business or purchase an existing one, they compare the benefits provided by various communities. Austin’s reputation for offering businesses a number of advantages encourages business buyers to choose the city. That’s why current business owners looking for a change can now take advantage of the area’s growth.
Selling a Business in Austin in Today’s Market Environment
At CGK Business Sales, we track business sales trends around the country, but especially in Austin and the surrounding areas. That means we understand sales patterns and how they impact the potential to market your Austin business successfully. Our experts know it’s never easy to make important decisions related to selling your business, and we take the time to review a variety of factors to determine when and how you are most likely to see the greatest return on your investment.
Because conditions evolve rapidly, we also continuously review the needs of every client to ensure we’re taking full advantage of positive market trends while simultaneously minimizing the impact of negative ones. Fortunately, Austin’s business market is enjoying far more advantages than disadvantages today. Here are just a few of the reasons we’re encouraging business owners looking for a change to start the sales process now.
Austin’s Growth Boosts Business Prices
The five-county area’s population is now well over 2,000,000, which means consumers are seeking businesses providing the products and services they need. While that demand means new businesses will open, existing businesses are already here and are generally better able to meet that pent-up demand quickly.
Existing businesses also have established business-to-business contacts that often prove necessary to grow faster and take advantage of new opportunities. When you’re selling, listing current strengths and outlining future expansion potential makes your organization more attractive to buyers with the ability to purchase a business now.
The Area’s Well-Educated Employees Boost Prospects for All Businesses
While spot shortages of workers are common in some industries, Austin’s business owners enjoy an unusually well-educated employee pool. Better-educated employees increase the potential for growth, as an established pool of talent is always a necessity for growth.
Of course, the region still needs to deal with the employee shortages in some industries, but that’s true around the country. Our region’s advantages make it far easier to attract (and retain) talented employees as long as we recognize the issue and take appropriate steps now. However, the truth remains that owners selling a business now are likely to see strong interest because of the number of talented employees already here. This is one of many reasons we wrote this article about the Austin Economy- Why Now is the Best Time to Sell Your Business.
Location, Location, Location
Austin sits in the heart of Texas and enjoys easy access to a number of major cities. That means anyone contemplating expanding a business in the future can do so rather easily, as Austin’s centralized location makes it a natural hub for future regional growth. Even if you never considered expanding to other cities in the region, a buyer may dream of satellite stores or additional manufacturing opportunities. That means your business has greater appeal than a business in another city might see.
Quality of Life is Always Important
Working is only one part of life. Everyone wants opportunities to rest, enjoy Mother Nature, and take advantage of entertainment venues. Austin’s famous for its parks, entertainment, and other recreational options. Families are unlikely to move to any community that doesn’t provide a pleasant environment to live in. That’s another big plus for anyone considering selling their business in Austin today.
Looking to the Future Means Dealing with the Present
Selling any business requires planning. At CGK Business Sales, we take pride in our history of helping business buyers and sellers achieve their goals. If you’re considering selling your business in Austin, obtaining the best price is certainly important, and that’s why we encourage sellers to contact a broker now for advice.
While now is a great time to sell, the process still involves quite a bit of work and dedication. We work closely with our clients to ensure the process flows as smoothly as possible. Our experience makes it possible for us to guide you through the sales process.
To start the sales process, we’ll take the time to evaluate the business to determine an appropriate price and recommend ways to obtain the maximum return on your investment.
Of course, that’s only the beginning. We prepare a marketing plan that’s tailored to your business and introduce it to buyers who are most likely to buy in the near future.
Once we’ve found a buyer, we’ll work to ensure the sale closes as quickly as possible. We know you’re ready to move on, and our team works diligently to ensure the outcome is everything you expect.
Austin is experiencing phenomenal growth, which means your business is likely worth more than ever. Hopefully, this article on the Austin Economy- Why Now is the Best Time to Sell Your Business has been useful. Contact our team today to discover why now is the best time to sell your business.