I don't like my business partner and want to sell - is 6 months too soon?

Question

I though me and her would be good business partners, unfortunately it just didn't work that way, and I would like to sell (as does she, but neither of us wants to stay in the business). The business has shown about a $1000 dollar steady growth each month, and is a turn key operation with hundreds of customers (and growing). Is it too soon to consider selling?

Answer 1

No.  You certainly can consider selling now.

Provided that the business is profitable and that the business has a positive cash flow.  If not, you probably won't be able to get any decent offers.

Since the business is growing I suggest that instead of selling you sit down and talk to your partner about how the two of you can get along with each other.   If necessary get a neutral third party to "moderate" your discussions, make suggestions and give you both some advice.

Case in point.  There was a large food chain run by two families.  They had a falling out.  Their solution was to hire their lawyer as the CEO, have one family run the food operations and the other family run the real estate operations.  They never resolved the issue that caused the rift.  The hard feelings existed for decades but the company was very successful.

A successful and growing business is not something to be discarded unless and until all possible steps to resolve the issues have been taken.  After all, this may the only time opportunity knocks for you -- and your partner.

Hope this helps

Jerry-the-bookkeeper