As you embark on the process of selling your business, you’re going to have a lot of questions. How much is your business worth? What documentation do you need? Do you need a broker, or can you sell it alone?
But before you even start thinking about those questions, there’s one pressing question you probably want the answer to:
How long does it take to sell a business?
In this article, we’ll answer that question and explain some of the factors that can affect your timeline.
How long does it take to sell a business?
In our experience, it takes between six and nine months to sell a business, on average. The exact timeline depends on a range of factors, including your geographic location, industry, asking price and the economic climate.
Of course, you may get a different answer depending on who you’re talking to. Some people are lucky enough to have a buyer come to them ready to buy and have transitioned their business over in less than six weeks. Others might put their business up for sale in a particularly bad market and end up waiting for a year or more before they sell.
How to increase your chances of selling your business faster
While there’s no magic formula that will help you sell your business faster, there are a few things you can do to help the process along
Get a professional business valuation — Hiring a certified appraiser to perform a valuation will let you know what you can charge for your business. With a reasonable asking price in mind, you could have an easier time finding a buyer. If you’re simply guessing at your company’s value, you might overprice your business and have a harder time finding a customer.
Prepare your documentation beforehand — Potential buyers will want to see certain documentation, like your income statements, balance sheets and tax returns. Get everything you need ahead of time so you don’t have to run around collecting paperwork while you’re trying to sell your business.
Hire a business broker — Professional business brokers have extensive experience in this process and can guide you through the entire thing. They’ll help you manage your paperwork, qualify potential buyers, and oversee the process to ensure it goes fast and without hiccups.
Lion Business Brokers can help you sell your business
We are experienced brokers who bring strategic insight, industry expertise and cutting-edge technology to our work. We know how long it takes to sell a business, and we do everything we can to make the process faster and smoother for our clients. Contact us today for a free business valuation to learn how we can do the same for you.
How long does it take to sell a business?
As you embark on the process of selling your business, you’re going to have a lot of questions. How much is your business worth? What documentation do you need? Do you need a broker, or can you sell it alone?
But before you even start thinking about those questions, there’s one pressing question you probably want the answer to:
How long does it take to sell a business?
In this article, we’ll answer that question and explain some of the factors that can affect your timeline.
How long does it take to sell a business?
In our experience, it takes between six and nine months to sell a business, on average. The exact timeline depends on a range of factors, including your geographic location, industry, asking price and the economic climate.
Of course, you may get a different answer depending on who you’re talking to. Some people are lucky enough to have a buyer come to them ready to buy and have transitioned their business over in less than six weeks. Others might put their business up for sale in a particularly bad market and end up waiting for a year or more before they sell.
How to increase your chances of selling your business faster
While there’s no magic formula that will help you sell your business faster, there are a few things you can do to help the process along
Lion Business Brokers can help you sell your business
We are experienced brokers who bring strategic insight, industry expertise and cutting-edge technology to our work. We know how long it takes to sell a business, and we do everything we can to make the process faster and smoother for our clients. Contact us today for a free business valuation to learn how we can do the same for you.
Categories
Advisors
Archives