How Long Does It Take to Sell a Business?
There is really no simple answer.
Selling a business isn’t like selling a house: put a price tag on it, list it, and wait for buyers to make offers. It is a complex process that takes a considerable amount of time. This is a brief summary of the process and the timelines:
Preparation: 3-5 weeks (estimated)
- Preliminary meetings, valuation, determination of your objectives
- Interviews to learn about your business
- Gathering financial and other information from you
- Preparing the Confidential Information Memorandum and Information Teaser
Marketing: 3-5 weeks (estimated)
- Developing a marketing plan
- Conducting buyer research
- Qualifying buyers
- Evaluating offers
Working with the Buyer: 8-12 Weeks
- Negotiating the price, structure, and terms of the deal
- Managing the due diligence process
- Closing activities
Since you are involved in many of these activities, the time it takes to sell your business also depends, to a great extent, on your commitment and available time. We realize you also have a business to run so it is understandable that your schedule may prolong the timeline.