Are you the owner of an outsourced contact center and have been thinking about a change in direction? More specifically, have you been thinking about whether it’s a good time to sell? Here are five legitimate reasons why selling your contact center may be a good idea:
1) You’re Retiring
Retirement is one of the biggest reasons why many older, and increasingly younger, entrepreneurs are choosing to sell their business. Retirement can bring with it several bright new attractive opportunities. One of these is having a lot more free time on your hands to do whatever you want to do. You can also spend more quality time with your loved ones and friends. However, checking off all the right boxes before you sell is necessary so that you can retire with peace of mind and be appropriately covered financially for your future.
2) You Want to Try Something New
Another valid reason to sell your contact center business is that you want to explore something new or different. You may no longer feel like your current business is the best fit for you and your life or feel like it is time to move on to a new venture. You may also find that your interests have changed over time and you want to explore a completely different industry altogether. It’s human nature to want to change and grow. Change is the only constant.
3) You Want to Get Out While You are On Top
If your business has become profitable and successful to the point where you are at the receiving end of buyer inquiries, it may be a good idea to think about profiting by selling. Many entrepreneurs sell at this stage, when the going is good, to cash in on their investment. The profit gained in this transaction could be used to fund your next business opportunity or perhaps a passion project you’ve wanted to start for a while now.
4) You’re Not Making a Profit
Another reason why contact center owners choose to sell is the lack of any real profit. Perhaps you’ve been burning the midnight oil for way too long and not getting the results that you’ve been looking for. Even the most seasoned entrepreneurs go through phases of either picking the wrong businesses for them or not being able to achieve profit. When this happens, it’s time to cut the losses and get out while you can.
5) You May Want a Merger Model
Many factors need to come together to bring about a solid merger. Some of these include liquidity, cultural fit, and a strong leadership team.
There are several reasons why entrepreneurs resort to merging with another company:
- Growth and Upscaling. For instance, going from $25M to over $50M in your contact center becomes easier when you upgrade your resources and technology. Merging with a larger company can provide the opportunity for accomplishing this. Merging can also be an attractive proposition because it can allow you to consolidate into a team of executives with greater bench strength.
- Access to a new geographical market or specific industry niche.
- Creation of more expansive offerings for customers through allied companies that provide non-competing services.
- Access to a much larger R&D division with more financial outlay for research.
- Sharing of talent whereby both companies capitalize on the niche strengths of each side.
Are you thinking about selling your contact center for any of the reasons mentioned in this article? Contact us today so that we can help you to assess your situation and connect you with qualified buyers. Also, we invite you to join our National BPO Contact Center Registry. The registry is FREE and provides benefits such as priority consideration for our clients in need of BPOs, networking and contact center resources – as well as a chance to win $500! For more information, Visit the Registry Page.
We’ve recently partnered with a company actively seeking to acquire US-based BPOs with annual revenues of $20M or less. If you’re thinking about a merger or acquisition opportunity – or simply want to learn more – this may be of interest to you.
The buyer currently provides BPO services to Fortune 500 and mid-market companies and wants to scale the business through the acquisition of established BPOs such as yours. What makes this buyer especially unique is the desire to partner with new acquisitions to promote growth for all concerned.