Hello to my Million Dollar Peeps!
I'm going to try and keep this short because I'm traveling, but only because it's a very common question we continue to receive and I literally just had a great lunch conversation with a client-provider asking me this very question, I wanted to share with you.
So, is if it is a "buyer's or seller's market." Honestly, I don't know! Seriously, I'm seeing so many crazy scenarios right now.
No question, if you're a buyer, there are some great deals right now - the ability to acquire an existing business.
On the flip side, if you're seller, depending on your location and dynamics of your business, you may want to hold on.
Case in point. Early in the week I was contacted by a hardworking client-provider who last August (2021) was solicited to sell. In looking at the solicitation, I told him no, it wasn't a good deal. He listened and recently emailed me the following:
"How are you, Brother? Hope all is well. Took your advice and didn't sell and it was a good one. About to sign up at [Blank] hospital (1000 bed) and comfort care which is the transportation arm of a major insurance company. Things are moving. Wanted to drop in and give you updates and thank you for the support."
- Mike (NEMT Provider)
Could he have cashed out last year? Yes, at a lower price, but buy holding longer, he's now positioning himself for a much large payday in the future.
Timing, circumstances, and preparation are all important!
Long story short, there's no one-size-fits-all answer. There are many things to consider specific to your business, location, contracts, opportunities, and more.
If you're thinking about selling or considering purchasing an existing business, Click here to share your information.
I trust you understand we do need to be selective and can't work with everyone. There are some businesses that need to sell now, and others that need to wait. Regardless, I'm definitely going to tell you the truth.
See you at the Top!
Joel E. Davis | 
