The Process of Selling a Business
If you’re thinking about selling your business you surely have many questions that you would like answers to. While most business brokers will be quick to tell you how great they are, few are willing to share with you the details of the process that lead to a successful sale of a company.
This page covers the overall process, segments, and general timing of a successful business sale process.
How long does it take to sell a business?
While the timelines vary widely from company to company, we find that the bulk of successful small business sales take between 3 and 6 months to execute, from start to finish.
Every business broker or advisor will have their own process and recommended timeline, and many have no timeline or process at all.
Based on years of experience and dozens of closed transactions, we find that a defined business sale process leads to smoother transactions, happier buyers and sellers, and less stress for both sides along the way.
What are the exact steps to sell a business?
The exact steps to selling a business can be flexible depending on the size of the business, how urgently a seller needs a transaction, the buyers involved in the process, and how well the business broker or advisor drives the process.
The general process includes:
Materials Preparation
Listing & Contacting Buyers
Buyer due diligence
Evaluating offers
Refining the deal terms
Legal documentation
Closing
Our 5-step business sale process leads to a smooth and successful business sale process for our seller and buyer clients.
