Typically a business would take anywhere between 2 – 24 months to execute the sale transaction. But businesses selling out within 2 weeks itself is not unheard of. To hasten the process of selling the business, consider below points:
- 1. Valuation can make or break the deal. Positioning the sale price of the business at an attractive level can reduce the time taken to sell the business drastically. You can view typical business valuation here and price it at the lower level to make it attractive.
- 2. Businesses which have offers from other buyers are the ones which get sold quickly as there is a sense of urgency. Ensure you have several interested buyers rather than talking to just one buyer. You can get started by creating a profile for your business here and receive buyer introductions within days.
- 3. Keep all your documents, audited statements, tax returns, guides, contracts, etc readily available as these are required for the due diligence process which typical lasts a few weeks.
- 4. Even post selling, business owners will be asked to continue for a period of 6-12 months for handholding and graceful takeover. If you want to move on quickly, ensure the business is not overtly dependent on you, the business owner.