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Business Sales Trends in Fort Worth
Entrepreneurs of Fort Worth, TX, are finding themselves in the right place at the right time. The economy is booming, and the Dallas-Fort Worth area is widely considered one of the fastest growing metropolis’ in the country, with little sign of slowing.
For business owners thinking about selling, this presents an opportunity to maximize profits in the short term. For investors who want to buy, this promises a strong return on investment over a longer period. Whichever side of the fence you find yourself on, here are the trends you need to be aware of for 2018.
When projecting the future success of a business, the economic health of an area is an important factor to consider. In Fort Worth, the economy has been doing well for some time. Employment rates in the area have increased the last four years with the job growth rate consistently rising the last five years. A steady increase in job creation has led to lower unemployment rates.
These trends continue to attract new residents to the area who are looking for an opportunity to join the local work force. This is shown by the elevated construction of single-family and multi-family homes in the area.
When you consider all these elements, it’s clear to see that Fort Worth offers entrepreneurs a healthy market with a large consumer base. This increases the odds for success in most industries.
Like the rest of the country, many of the Fort Worth businesses are owned by people born into the Baby Boomer generation. Many Baby Boomers are at retirement age or close to it, and are now considering their options. The recession caused many businesses to lose profitability, and many owners delayed their retirement to wait out the economic slump. Now that the market has improved, they have gained back value in their businesses and are motivated to start the next chapter of their lives.
Retirement is just one of a few motivating factors. Some businesses were unable to fully recover from the economic downturn and are on the market now because they lack the funds to continue. For those who maintained profitability, the effort to prevent failure has led to burnout, and their owners are considering other options for moving forward. These trends have contributed to a market that holds a high number of businesses for sale in a wide variety of industries.
Investors recognize that now is a good time to make a purchase in Fort Worth. Some established owners of local businesses that are fatigued by their industry will be searching the market for new opportunities to bring them back into the game. The robust economy also attracts new entrepreneurs looking to make a long-term investment in the area.
Out of state buyers lean toward profitable businesses that need little oversight, and usually have the bankroll to pay what a business is worth. Local investors, especially those who are young, are looking for a bargain and aren’t afraid of putting in a little elbow grease to make it work. With the excellent selection of businesses on the market, the pool of buyers in the area continues to grow.
Fort Worth is a growing city that offers opportunity to both sellers and buyers. The strong economy has remained consistent, and growth is likely to continue for years to come. A generation either in or entering retirement age, and recovery from a recession, have led to a flood of businesses being put on the market. The number of companies being sold in a thriving city has attracted a strong pool of potential buyers, many of whom are from younger generations and are eager to take the reins.
Whether you’re in business now and thinking about selling, or you’re considering investment in the area, both sides of the transaction have a strong opportunity for success. LINK brokers have experience in this market and can help you make your next move. Call our Dallas office at (214) 710-2558.