How Fast Can I Sell My Business?

With Business for Sale, buying or selling a business has never been easier. We have the ideal tool for you if you are an entrepreneur or are selling a business on behalf of a client. So, if you were looking for a way to speed up the selling process, list it with Business for Sale today!

Business for Sale

09 May 2022

Summary

Selling your business could be the most significant financial decision you make in your life and with that comes a bit of pressure. That’s why most sellers ask the question; “How fast can I sell my business?”.

For several business owners, the selling process can feel like it takes a lifetime. All the elements of the selling process and delays, require sellers to invest a significant amount of time and effort. A longer process also means you'll have to keep running your business for weeks or even months, which only makes the need for a buyer more pressing.

How Long Does it Take for a Business to Sell?

There are 6 elements that have an effect on how long it takes for a business owner to sell. Below we will dive into these 6 elements and how they can impact the timeline of the selling.

Business Type

The attractiveness of your business to sellers will be determined by the industry in which it operates and its profitability. If your company runs within an industry that provides a consistent income stream, your business will appear more appealing to potential buyers.

However, if your business is operating in a sector that requires specific licensing, the timeline for selling your business can be extended as individual buyers will have to designate time to obtain the necessary licensing before the transaction can be completed.

Purchase Price of Your Business

The higher the sale price of your business, the longer it will take to find a buyer. This is because if the price is high the number of qualified buyers that can afford your business decreases. Therefore, it is crucial to get a professional business valuation when thinking of selling your business as this will ensure that you have the proper facts to back up the selling price of your establishment.

Business Location

The industry and location of your business can have an impact on how marketable it is to buyers. If your business is located in a booming urban area, it is a more desirable location which can speed up the selling process. However, if it is in a small town with minimal opportunities for growth, the buyer pool can quickly shrink.

The Amount of Time You Take to Respond to Potential Buyers

One of the easiest techniques to help speed up the process of selling your business, is to make sure that all necessary information is provided to all parties involved as soon as possible. The following information should be prepared before trying to sell your business:  

• Lease agreements
• Financial statements and history
• Social media profiles
• Procedures for standard operation
• List of relevant utilities

 

With Business for Sale, buying or selling a business has never been easier. We have the ideal tool for you if you are an entrepreneur or are selling a business on behalf of a client. So, if you were looking for a way to speed up the selling process, list it with Business for Sale today!