High Demand By Business Buyers For Thriving Businesses
For small businesses thriving in the age of COVID-19, there’s a huge buyer pool and this is, without a doubt, a phenomenal time to sell. Profitable, pandemic-proof businesses are highly desired by 68% of surveyed business buyers who really, really want a resilient business according to BizBuySell’s most recent Insight Report. Moreover, another 44% of business buyers are seeking businesses that are growing in order to capitalize on the developing growth without paying a premium for the business.
For those small businesses that are thriving, there’s a huge and growing buyer pool given all the lay-offs and cheap, readily available business opportunity loans further facilitated by the federal government’s CARES Act.
As can be expected, with reduced buying risk, the profitable, pandemic-proof businesses are going for a premium. Indeed, the BizBuySell data shows that the Q2 median sale price of businesses rose 6.1% compared to 2019, from $270,000 to $286,500.
In-demand, essential businesses and those focused on the stay-at-home, social distancing lifestyle COVID-19 has created are flourishing. Examples include include home improvements stores, pet supply stores, bike shops, home healthcare services, cleaning services, auto repair, pest control and bakeries, etc.
With a limited supply of these golden opportunities, buyers have to act fast given the likelihood of buyer competition. Contact Mission Peak Brokers if you are seeking a golden business opportunity for sale. We’re experienced and happy to help.