How long does it take to sell a business? (Video)

Posted by James Price | JPAbusiness on 31-Jul-2019 02:00:00

3 business people's hands on a desk with multiple items including calendar, laptop, phones, clock, plant

The time it takes to sell a business is heavily influenced by how prepared you and your business are for an open market, or trade, sale.

In this video I'm sharing 3 basic things you should have done before embarking on a sales process:

  1. Gathered and prepared some of the key information about your business that a purchaser will want to examine
  2. Sought independent advice on the market value of your business
  3. Sought professional advice on the potential tax and other implications of selling. 

I typically indicate to clients that they need to expect a business sale process to take at least six to 12 months, but if you head into a sale process without having taken these basic steps, at the very least, the process invariably takes longer.

 

 

The fastest we have sold a business from start to finish is actually six weeks. However, we regard that as a record that will probably never be broken, because it was a unique situation where, strategically, the ‘stars aligned’ between the buyer and the seller.

Resources to help you plan your sale

We have created a number of free resources to help our clients and subscribers prepare for a business sale process and maximise their business value on exit:

You can download these and other free resources from our online Resource Library.

JPAbusiness Resource LibraryIf you would like advice about any aspect of buying or selling a business, contact the team at JPAbusiness on 02 6360 0360 (Orange) or 02 9893 1803 (Parramatta) for a confidential, obligation-free discussion.

 

James Price 2018 smallJames Price has over 30 years' experience in providing strategic, commercial and financial advice to Australian and international business clients. James' blogs provide business advice for aspiring and current small to mid-sized business owners, operators and managers.

 

Topics: Selling your business, Business Planning, Video, Succession planning, business advice, selling a business, James Price, Parramatta, Orange NSW

 
Disclaimer: The information contained in this blog is general in nature and should not be taken as personal, professional advice. Readers should make their own inquiries and obtain independent, professional advice before making any decisions, taking any action or relying on any information in this blog. 
 
 

 

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