How long can a small business owner expect the sale process to take, from ad listing to closing?
The way you approach and structure your sale will go a long way to determining how long it will take to sell your business. Much of this depends on the health of your business, as well as the state of the market. Nevertheless, as a small business seller, you have some control over how long it will take to sell your business.
In our experience, it can take anywhere from ten days after your ad goes live to six months of deliberate negotiations with multiple buyers to sell a very small business.
Selling your small business fast
Do you need to move on quickly? You may have personal reasons for needing to make a quick sale of your business. If you are most concerned about moving on quickly, you can adjust your pricing and sale terms to be more favorable to potential buyers. It is also possible to sell parts of your business very quickly, or selling off some assets while retaining the brand and operations. In a pinch, most business owners can slim down their business quickly with creative thinking and a willingness to negotiate.
Taking your time to sell your small business
Are you not sure you’re ready to let go? Sometimes you know you need to sell, but you are not 100% ready to let your business go. In this case, you can use strategies like a soft launch, or more aspirational valuation, to get a sense of what the current market will bear for your business. If you are not in a hurry, you can be selective and deliberate in your negotiations with potential buyers.
Thinking about selling your business? Book a Discovery Call
Do you want to work with a broker to sell your business? We do that.
Learn more about selling your very small business on our blog
Learn even more about selling your business in our How To Book
