We have been able to sell a number of businesses in 2020 despite the on-going Covid 19 crisis”
Common factors:
- Many businesses have increased revenues and profits. Health Care, supermarkets, and logistics companies lead the way. Other market segments are Food establishments that have been engineering for pick-up and delivery.
- The sellers are truly motivated to sell due to partner issues, health, or retirement. Business Brokers are encouraging their clients to “price to see” and have realistic expectations.
- Capital Gain and ordinary income tax rates will increase in 2021.
- There are buyers who have the financial resources to buy a business now at lower multiples than in previous years.
Unfortunately, a number of businesses will be closed or operating at a loss. They cannot be sold until 2021 and beyond.
Mike has bought and sold a number of companies and founded NJ Broker Plus, LLC to assist New jersey business owners to sell their businesses and qualified buyers to purchase a profitable business. Over the past 3 years Mike has been instrumental in the sale of over 40 businesses.
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