How long to sell a business? This is a tricky question to answer, simply because there are so many different variables at work. A quick disclaimer before we kick things off — all of the timelines quoted in this article are ballpark figures. They could be shorter, or they could be longer.
On average, though, you’ll usually be looking at 6 to 12 months if you’re selling a smaller business and between 12 and 18 months for larger-scale operations.
Of course, the alternative option is to work with someone like Batallan Group, who can help you complete the sale much more quickly. More on that later.
First, how does the process of selling a business break down?
Getting Started
It may take up to 3 months to get everything in order, and this is before you can begin finding a buyer. In this phase, you’ll need to get a reliable valuation for your business.
You’ll also need to prepare legal and operational documentation to give to a potential buyer. Once all this is in place, you’ll need to plan how you’re going to market the business.
Moving the Sale Forward
It’s unlikely that you will find the right buyer straight off the bat. Instead, it’s likely that you’ll find a few different potential candidates during the marketing phase. You’ll need to spend time narrowing these down to avoid any time-wasters.
Next, you’ll need to negotiate with the ideal candidates and make sure you can reach a mutually acceptable deal. This can take between 3 and 6 months, but again, larger-scale enterprises will take longer to market, and negotiations will be more difficult.
Finalizing the Sale and Exiting the Business
Finishing up the legal paperwork and completing due diligence can add another 1 or 2 months to the process of selling a business. That’s in the best-case scenario, when everything goes smoothly. Often, it’s going to be a bit longer than this.
After this, you’ll need to exit your business and transition your team to the new ownership. As we’ve covered in other posts, handling things like employee transitions and client retention can be lengthy processes, and there’s not really an upper time limit on this. It essentially takes as long as it takes, which can add to the complexity — and duration — of the business sale.
The Alternative Option:
Choosing Batallan Group When Selling Your Business
If the idea of a drawn-out process with potential hidden pitfalls and setbacks is a little worrying to you, you’re not alone. Plenty of people feel put off from selling their business because of the complexity and may miss out on the ideal opportunity as a result.
At The Batallan Group, we offer the answer. We have a strong track record in acquiring businesses and helping to forge a lasting legacy by maintaining your brand even once you have exited the company.
In just over 15 years, we have worked on more than 10 acquisition projects, achieving real success in a variety of different sectors. As well as offering a simpler, stress-free option when you sell your business, we also provide competitive offers, so you know you’re getting the right deal for a company you’ve worked so hard to build.
To discover more about our group and what we do, reach out to the team today.