So How Long Does it Take to Sell a Business?
You've built your business from the ground up. It's been your blood, sweat, and tears for years. Maybe even decades. So, when it comes time to sell, you want to get the best possible price and terms, and you want it done as quickly as possible.
Unfortunately, the answer to the question "How long does it take to sell a business?" is... it depends.
On average, it takes between six to eleven months to sell your business. But we've seen businesses sell in as little as three months and others that never sell at all.
There are many factors that impact the speed and success of the sale, some of which you can control, but many others you cannot.
Here's a look at some of the things that can affect how long it takes to sell your business:
- The strength of the economy
- The industry you're in
- Your business's location
- The current state of your business
- The price you're asking for your business
- The terms you're offering
- The quality of your broker or M&A advisor
Fortunately, there are several things you can do to increase the chances of a quick, successful sale.
Here are a few tips:
- Make sure your finances are in order. This means having up-to-date, accurate records of your revenue, expenses, and profit. Buyers will be looking closely at your financials, so you want to be sure they're in good shape.
- Get your business valuation. A professional business valuation will give you an idea of what your business could realistically sell for.