"I'm not sure if now is the right time to sell. Should I wait?"
Timing matters — but not in the way most business owners assume. Here's an honest framework for thinking about when to sell.
The question we hear in some form from almost every seller: "Should I wait another year?" The answer depends on factors that are specific to you, your business, and the market — not on generic advice about interest rates or economic cycles.
The Two Types of Timing
Most business owners conflate two separate timing questions:
Market timing: Is now a good time to sell based on macroeconomic conditions, buyer appetite, and deal multiples? The honest answer is that lower middle market deal activity and multiples have been resilient through various economic cycles because buyers in this space — PE firms, search funds, strategic acquirers — operate with long-term mandates. They don't stop buying because interest rates are high; they adjust their structures.
Business timing: Is your business in the right position to command a strong price right now? This is the timing question that actually matters most. A business with growing revenue, clean financials, and low owner dependence will sell well in most market conditions. A business with declining margins or significant issues will struggle regardless of macroeconomics.
What "Waiting" Actually Costs
Business owners who say "I'll wait another year" often aren't accounting for the full cost of that decision:
Each additional year means another year of personal liability, management stress, and capital tied up in an illiquid asset
Business conditions can deteriorate: key employees leave, a major customer reduces spend, margins compress in ways that are hard to reverse
Personal circumstances change: health events, family obligations, and partner relationships don't wait for the optimal market window
Deal multiples can contract — a market that's favorable today is not guaranteed to be more favorable in 12–18 months
When Waiting Does Make Sense
There are genuine cases where waiting 12–24 months is the right decision:
Your earnings have been flat or declining — waiting for a recovery in EBITDA can materially improve your multiple
You're 18–24 months from a natural organic growth milestone that will measurably improve your value
You have a specific structural issue (owner dependence, customer concentration) that can be meaningfully addressed in 12–18 months
You are genuinely not emotionally or financially ready to exit — and forcing a sale before you're ready tends to result in poor decisions
The Most Useful Question to Ask
Instead of "is now the right time?" ask: "What would need to be true for me to feel confident about selling in the next 12–18 months?" That question usually surfaces specific, addressable issues — rather than a vague sense of unreadiness.
A confidential conversation with us will tell you whether your business is positioned to go to market now and get a strong result, or whether there are specific things worth doing first. We'll give you our direct assessment — not what you want to hear.
One Conversation Clarifies a Lot
Many of the business owners who call us expecting to hear "wait another year" leave that conversation with a much clearer picture of where they actually stand — sometimes more ready than they thought, sometimes with a specific 12-month action plan. Either outcome is more useful than continued uncertainty.
Stop Wondering. Get a Direct Answer.
One conversation will tell you whether your business is ready to go to market now or what to focus on first. No obligation, no pressure.