Can I sell my small IT business?
October 14, 2013 8:28 AM Subscribe
I run a small Mac support business in NYC. Most of my clients are small businesses, and are repeat customers going back several years. Customer loyalty is high. Expenses are low. Profits are reliable. Physical assets are few. I'd like to sell it, but I can't figure out if it's an asset — or if I'm the asset.
posted by thejoshu to work & money (10 answers total) 2 users marked this as a favorite
My business is heavily tied to my relationships with my clients. I have a part-time employee who many of my clients adore, but I still have unique knowledge that requires me to have an active hand in things. Yet ultimately, the skill set is absolutely standard, and there's enormous room for expansion in this market.
I work with a discerning class of upper-class, small-business clients, and a potential buyer would need to be sensitive to their unique needs. To that end, I suspect my business is both too small and tailored too narrowly to appeal to a business broker. I also suspect that if I tried to sell the business online, most potential buyers would not be equipped to handle the interpersonal (non-technical) needs of my clientele.
So here are my questions: is there a way to sell this on my own? Is it wise or unwise to directly approach other small businesses operating in the same niche to gauge their interest? Do you have experience buying or selling a similarly-sized small business in NYC, and are there obvious pitfalls or resources I should be aware of? Should I just roll down the shutter?