Squamish was recently rated the top place to do business in BC by the Canadian Federation of Independent Businesses. With low property values and close proximity to Vancouver, this small community has a youthful and educated population. These factors all bode well for prospective business buyers and sellers in Squamish. Those wanting to add to their entrepreneurial portfolio will be pleased with the amount of desirable opportunities available. At the same time, those wishing to exit have the advantage of selling within a flourishing market. The sales process can be overwhelming for both parties, so it’s best to consult with a business broker and do plenty of research ahead of the transaction.
Questions to Ask When Selling a Business in Squamish, BC
In the early stages of your exit planning, it’s important to consider the following questions to simplify the overall process and earn maximum value in the transaction.
How and when will I exit my company?
Get started by preparing an exit strategy with special considerations to your unique situation and personal expectations for the transaction. The most effectual plans answer all the baseline questions of your exit, such as "When should I go to market?"; "How long does it take to sell a business in Squamish, BC?"; and "How much am I expecting to earn in this transaction?".
What is my business worth?
Putting personal sentiment aside, you have to arrive at a Most Probable Selling Price that 1. is based on the current open market and 2. considers the multitude of factors that play in determining business value. Since there are so many value drivers, the most accurate Interpretation of Market Value comes from a third-party source. These services can identify the true earnings of a business based on its historical and projected financial data with special considerations made towards market conditions, growth potential, and much more.
Where will I market my business for sale in Squamish, BC?
This stage in the sales process requires both passive and proactive efforts on the seller side. Many prospective buyers begin their search online, so you'll want to list your business on a listings website. This strategy exposes your business to candidates worldwide looking for Squamish, BC businesses for sale - not just within the local market. It's also advised to target buyers interested in acquiring a business for strategic or financial purposes. These groups should be approached in an explicit and confidential manner.
Considerations When Buying a Business in Squamish, BC
There are many business opportunities available in Squamish and its surrounding cities. Consider the following points below to guide you along in finding the right opportunity for you!
What are my desired business search criteria?
Upon reviewing different Squamish businesses for sale, you'll want to ensure they meet the criteria you've set for yourself. Important criteria to consider at this stage are financial information, location, and industry. You should also look to external factors, including the current market space for your desired business. Narrowing down to these specifics will help you eliminate businesses that aren't a good fit while better segmenting your search.
What does the market look like for my desired business in the Squamish area?
Industries like retail, construction, and accommodation and food services are flourishing in Squamish. The community is also seeing an emergence of several powerful sectors, including education, technology, and clean energy. One of the most careful considerations to make in your search is the current and projected state of the market for your desired business.
Where do I find businesses for sale in Squamish, BC?
New business opportunities in Squamish, BC are posted to listing databases each day. While it's recommended to see what's available on the market, you should also take a more proactive approach in your search. Working with a business broker or M&A advisor opens up a new realm of possibilities. As they maintain an extensive database of contacts and business targets, you'll be exposed to more opportunities, many of which aren't available on the market.
Why Work with a Business Broker or M&A Advisor in Squamish, BC?
Taking the first steps towards your entrepreneurial goals is exciting yet can also feel overwhelming. A business broker or M&A advisor is there to step in, guiding you along the sales process with minimal frustration.
If you’re looking to buy or sell a business in Squamish, Vancouver, or the surrounding cities, Pacific M&A and Business Brokers is ready to help! Schedule a consultation with our brokerage team for greater knowledge, expertise, and exposure to more buyers or sellers nearby.