The landscape for small business sales in Hawaii is evolving. According to a recent report from Bizjournals, the time it takes to find a buyer has decreased, signaling a robust market. This increased interest can be attributed to several factors, including a surge in first-time buyers and companies looking to expand their portfolios, as highlighted in a recent article by Forbes.
While a shorter selling time is generally positive, it can also lead to multiple offers. As Sunbelt Atlanta points out, managing multiple offers requires a structured approach to ensure the best possible outcome for the seller. This includes carefully evaluating each buyer's terms and intentions. Additionally, a BizBuySell report indicates that the market is dominated by micro-businesses, suggesting that many of the interested parties are focused on acquiring smaller enterprises, further influencing the dynamics of negotiation.
However, it's crucial for sellers to be aware that approximately 70-85% of small businesses fail to sell, as noted by Harbus. This underscores the importance of proper preparation, valuation, and understanding market trends before putting a business on the market. Advisors play a critical role, as indicated by bizval Business Valuations, in helping business owners navigate these complexities.
