Tampa, FL, June 06, 2018 --(PR.com
)-- A business owner has just finished another successful day at work. His phone begins to ring, and it’s his wife calling to him know her test results from her doctor’s appointment. She informs him that she has cancer.
Instances like this affect business owners’ lives without warning, and they can change a person’s perspective on what’s important. Business owners have options when they find themselves experiencing these life-altering circumstances.
Benchmark International explores owners’ options if they find themselves unable to run their business. Here are some of the highlights from one of their newest articles:
Advantages – Owners will be able to focus on personal obligations that are keeping them from running the business. Once a business is closed, it’s closed.
Disadvantages – This usually a last resort option. It is best used by businesses that aren’t profitable or are in need of an immediate exit. It turns merchandise, equipment, and real estate into quick cash, but it does not account for customer relationships, or brand recognition.
Sell to Employees:
Advantages – This is a quick way to reward employees who played an instrumental role in growing a business. It can be satisfying to pass on success to those who helped to make it happen.
Disadvantages – It won’t bring in as much cash as selling to a third party.
Sell to a Third-Party Buyer - Partner or Total Buyout:
A business owner can opt for a partial or full sale of his business. A partial sale will allow him to give up some of his daily responsibilities to another effective leader, so he can focus on his personal obligations and commitments. A full sale will give him the right to step away from the business completely and take his earnings from the sale with him.
Benchmark International discusses all the above options, and the advantages and disadvantages of each option. A business owner who feels he or she can no longer run the business should visit the Benchmark International blog to read the complete article.