How long does it take to sell a small business?
When it comes to selling a business, there are a plethora of factors that can determine how long the process takes. Time frames can vary between a couple of weeks to over year and are affected by market factors: local demand, property price, legal factors, the type of property, and the list goes on. It goes without saying that the economy greatly affects business buyers’ personal finances and investment opportunities. In recent times during the Covid-19 pandemic, there has been a great deal of turbulence and uncertainty. As a result, many businesses have found themselves facing financial difficulties and may be looking to sell as quickly as possible.
The main point
The takeaway point is that if you are planning on selling a small business, then you should be realistic about the time needed to exit. On average, the process of selling a business typically takes at least six months, which is a timeline that most owners are usually surprised to hear. In spite of this, owners should ideally prepare themselves for any amount of time it could take. Nevertheless, we know that for many business owners, the main thing they will be aiming for is to exit as quickly as possible. Therefore, in this article we will be giving you our tops tips to speed up the time it takes to sell your business and also give you an insight into how FastCash4Houses can support you along the way.
Our top tips for a smooth sale
1 Prepare your business for the buyers
Buyers will always want to see the potential of your business before they even consider making an investment. The first step is therefore to increase your credibility by gathering financial statements, long-term clients and putting together a descriptive listing. Buyers will judge your business on first impressions, so taking the time to get your documentation in order will make a world of difference.
2 Contact a regulated property buyer
Get in contact with a regulated property buyer, such as FastCash4Houses, who will be able to provide you with a quote within 24 hours of your property valuation. We have years of experience within the industry of helping businesses to exit. If you are looking to sell quickly and make a decent profit, then FastCash4Houses are here to support you.
3 Seek buyers yourself
If you are looking to reduce the time that your business is on the market, then the best place to begin is my seeking out buyers yourself. By doing so, you will be able to spread the message wide to your existing network and their contacts. It may also be worth using multiple advertising platforms to get your business out to the right people. All in all, this will result in a fast and profitable sale.
Overall, the process of selling a business is one that should not be underestimated in either the time or effort required. Nevertheless, hopefully by now you have picked up on some ways that you can both simplify and speed up this process. At FastCash4Houses, we are here to buy any business in a time that suits you. To find out more, head over to our website https://fastcash4houses.co.uk/ or get in contact with a member of our team who are more than happy to help on [email protected] or 01204 294356.FastCash4Housesis here to support you every step of the way to ensure the future success of your business.