Flux is the new normal. Markets are shifting faster than strategies can keep up, organic growth is increasingly elusive, and many sectors feel fragmented, over competitive, and difficult to navigate. For many, consolidation: acquiring competitors, buying scale and chasing efficiency through M&A, with buyers still very active. For others, a business sale is the answer and a somewhat simpler and more human response.
“Stop! I want to get off!”
For these founders and owner managers, a business sale is not about squeezing the last pound of value from the business, it is about capitalising on years, often decades, of hard work. It’s also realising business is usually a ride that will never slow down, if anything it is accelerating and therefore it may be time to finally enjoy life with less frustration and overload. Rekindling relationships that were parked, engaging in hobbies that were postponed, and creative interests, travel, voluntary work, or simply the luxury of time and mental space.
The moment of realisation
One client memorably expressed ‘why’ when selling their estate agency business and their answer was disarmingly honest:
“I can’t go to the grave having only ever been an estate agent.”
Another seller, a keen skier, caused us some concern about potential “seller grief” the loss of importance, adrenaline, and the steady drip of urgent emails. Twelve months after completion, we checked in and he said:
“Surprisingly, it turns out I was born to retire.”
These moments capture a shift in attitudes that we are seeing more frequently. The decision for a business sale is no longer driven solely by fatigue with staff issues or operational complexity, instead, it is increasingly philosophical and a desire to get away from the associated frantic pace of life: when is enough, enough? Henry Rollins, the American punk rocker once famously said, “The more you own the more it owns you”. The Dalai Lama aligns closely with many of his observations in his bestseller “The Art of Happiness“.
Modelling life, not just capital
“Stop! I want to get off!” only works if the numbers support it. As a result, we are being asked more often to model capital yields alongside life expectancy and essentially answer the question:
“Will a business sale generate enough to retire, and what does ‘enough’ actually mean for me?”
This is not just a spreadsheet exercise. It is about aligning wealth with lifestyle aspirations, risk tolerance, and the desire (or not) to remain economically productive in some form. For many owners, the math’s is surprisingly reassuring once stripped of fear and habit.
The quiet role of tax and growth
We generally avoid politics in conversations, but it is impossible to ignore the environment in which these decisions are being made. Slow growth and high taxation are proving deeply demotivating for many business owners.
In our discussions, these factors have overtaken what was historically the dominant concern, “What will happen to the team if I sell my business?” as the primary driver of exit decisions.
With dividend tax, corporation tax, national insurance, and now inheritance tax applying to private companies, many owners have reached a tipping point. The incremental rewards of continued effort and future income security are simply outweighed by the benefits of exiting and enjoying the hard earned rewards of a business sale.
Wealth, wisdom, and the next chapter
This thinking aligns with the ideas explored by Arthur C. Brooks in “From Strength to Strength”. As we get older, the pursuit of ever greater wealth often becomes less satisfying, even as wisdom and perspective increase. Many find greater fulfilment not in accumulation, but in harvesting the fruits of their labour and having the courage to begin a new chapter. That leap of faith, stepping away from identity, status, and routine is not easy, but for many, it proves liberating.
The reality of exits in the mid-market
In practice, “Stop! I want to get off!” rarely means an instant clean break. In small and mid-market transactions (typically sub-£30 million), earn-outs and deferred consideration are common, regardless of whether the buyer is a trade acquirer, private equity, or an employee ownership trust.
Most sellers will continue working in the business for a period, sometimes a few years, sometimes longer. Time freedom and capital liquidity often arrive gradually, not overnight and this transition matters as much as the transaction itself.
Exit planning moves centre stage
In a world defined by flux and constrained growth, exit planning has moved from a peripheral consideration to centre stage. Business owners are asking themselves more relevant and personal questions:
- What is the best timing for me?
- How do I prepare properly?
- How do I maximise value without burning out?
- What deal structures am I likely to face?
- How much do I genuinely need to retire?
- And perhaps most importantly, what’s next?
There is no universal answer. Every situation is bespoke, shaped by personal ambition, family, risk appetite, and legacy.
A change of guard
Despite higher taxes on sales, there is little doubt that we are witnessing a change of guard. Baby Boomers (1946–1964) and Generation X (1965–1980) business owners are increasingly contemplating their legacy and long-term strategy.
For many, the conclusion is not about winning the next race, but more about choosing when and how to leave the track. Sometimes, the bravest decision of all is simply to say: “Stop! I want to get off!”
Contact us
With 30 years’ of experience delivering transactions, Avondale can help you to impartially compare your exit options from trade and private equity sales to EOT’s and look at the pros and cons of each.
If you would like more information about Avondale’s services or case studies on our recent EOT deals or M&A deals, please visit our website at https://avondale.co.uk. Alternatively, if you would like a free consultation with one of Avondale’s experienced M&A advisors, please call Avondale on +44 (0)20 7788 8250, email us at av@avondale.co.uk or fill out the attached form to arrange a free consultation to discuss your ‘perfect’ business sale.
This article has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for any specific tax, legal or accounting advice. Regulated advice bespoke to your circumstances is essential.
