In our experience, it can take half a year or more to sell a business. And that’s if we’re talking about selling a healthy business in a healthy economy. If you’re trying to sell a struggling business in a less-than-thriving economic climate, it may take even longer.
Either way, we’re here to give you some tips on how to sell a business quickly. Whether you have other matters pulling attention away from your business or you’ve had it listed for a while and are growing impatient, these tips may be able to help.
1. Get a professional valuation
A certified appraiser can assess your business to determine its value. This will give you an idea of how much you can reasonably expect to charge without overasking. Asking for too much money can deter potential buyers, of course, so this can help you to sell your business quickly.
2. Keep your price low
If you really want to sell off your business fast, you might consider discounting it. Or, at the very least, you might want to ask for the bare minimum. While you could ask for more money, it could mean you end up waiting for an interested buyer to come along.
3. Get all your records in order
Selling a business requires you to compile a lot of paperwork. You need balance statements, tax returns, business processes and a whole slew of other documents that illustrate your company’s financial performance. Potential buyers will want to see these documents before they even consider buying your business, so get them together ahead of time so you have them ready when asked.
4. Reach out to your competitors
Selling to a competitor may feel like giving up, but they’re likely going to be the most interested potential buyers. After all, acquiring your business will give them a bigger percentage of the market share. So, consider saving some time by reaching out to your biggest competitors to let them know you’re selling and that you want to give them first access.
5. Hire a business broker
Business brokers are experienced in selling businesses and can help you expedite the process. They know exactly what documents you need, how to qualify potential buyers and even where to market your business for sale. While hiring a broker isn’t a surefire way to sell your business quickly (there’s no one-size-fits-all solution to this problem), your broker can eliminate some of the roadblocks that could delay the process.
Lion Business Brokers wants to help you sell your business
We are experienced business brokers who bring extensive experience, proven strategies and cutting-edge technology to the process of selling businesses. We can help you through every step of the process, from assessing your business’s value to qualifying customers to closing the deal. Contact us today for a free business valuation.
How to sell a business quickly
In our experience, it can take half a year or more to sell a business. And that’s if we’re talking about selling a healthy business in a healthy economy. If you’re trying to sell a struggling business in a less-than-thriving economic climate, it may take even longer.
Either way, we’re here to give you some tips on how to sell a business quickly. Whether you have other matters pulling attention away from your business or you’ve had it listed for a while and are growing impatient, these tips may be able to help.
1. Get a professional valuation
A certified appraiser can assess your business to determine its value. This will give you an idea of how much you can reasonably expect to charge without overasking. Asking for too much money can deter potential buyers, of course, so this can help you to sell your business quickly.
2. Keep your price low
If you really want to sell off your business fast, you might consider discounting it. Or, at the very least, you might want to ask for the bare minimum. While you could ask for more money, it could mean you end up waiting for an interested buyer to come along.
3. Get all your records in order
Selling a business requires you to compile a lot of paperwork. You need balance statements, tax returns, business processes and a whole slew of other documents that illustrate your company’s financial performance. Potential buyers will want to see these documents before they even consider buying your business, so get them together ahead of time so you have them ready when asked.
4. Reach out to your competitors
Selling to a competitor may feel like giving up, but they’re likely going to be the most interested potential buyers. After all, acquiring your business will give them a bigger percentage of the market share. So, consider saving some time by reaching out to your biggest competitors to let them know you’re selling and that you want to give them first access.
5. Hire a business broker
Business brokers are experienced in selling businesses and can help you expedite the process. They know exactly what documents you need, how to qualify potential buyers and even where to market your business for sale. While hiring a broker isn’t a surefire way to sell your business quickly (there’s no one-size-fits-all solution to this problem), your broker can eliminate some of the roadblocks that could delay the process.
Lion Business Brokers wants to help you sell your business
We are experienced business brokers who bring extensive experience, proven strategies and cutting-edge technology to the process of selling businesses. We can help you through every step of the process, from assessing your business’s value to qualifying customers to closing the deal. Contact us today for a free business valuation.
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