Question of the Week: How long will it take to sell my business?
A: While every business and situation is different, plan on at least a month for us to work together to prepare the marketing material on your company (including an opinion of value and a detailed confidential business review). Factors affecting the preparation time include the quality and complexity of the financials, the business, and the industry. Generally, the more work that can be done up front, the smoother the process with a potential buyer goes later. Once we begin marketing your company, it typically takes between 6 and 9 months to find a buyer and work through the transaction process to closing. If your company is unique, smaller, rural, challenged, appeals to a smaller buyer universe, or requires a buyer with certain credentials, it isn’t uncommon for it to take 12 to 18 months to find the right buyer and get the transaction closed. Click here then select the “What is the Selling Process” video for an overview of the entire process or call me at 336-923-8990 to confidentially discuss your specific situation.
Next Week: How can I speed up the process?