There can be dozens of reasons why a business never sells; below are some of the most common:
1. Priced too high, no justification for the price (no basis for asking price)
2. Business cannot be financed. (Buyers want leverage, Sellers want to cash out)
3. Poor record keeping (tax returns).
4. Not packaged correctly. Need to explain full value of the company in writing.
5. Sellers won’t sell for what they make in a few years.
6. Business and accounts are too dependent on seller. (the business owner does everything).
7. Desirability (owners responsibility and hours required to operate successfully).
8. Management and employee not staying after the sale (family owned).
9. Outdated service and/or product (i.e., payphone business).
10. Too much working capital required (not enough cash on cash return to justify risk).