The Question
How long do sellers typically stay with their business following its sale?
The Answer
The answer to this question depends on the business itself and, of course, the seller. If the business is quite a large manufacturing facility with a lot of moving parts, than the seller may stay up to a month, possibly longer. If the business is a small home based business or the buyer is acquiring a second location for a current business, than the seller may only need to stay about a week. The seller can also provide training as an added benefit to buyers to help their business sell, especially if the business has unique processes.
What this question is really pointing to is how much training will the new buyer really need to learn the business, how long is the seller willing to stay and how motivated is the seller to sell their business. Typically, most sellers will offer two weeks of training included with the sale of their business. Beyond those two weeks or if there are special circumstances than the length of time the seller stays with the business may be extended through negotiations.
This all being said a business broker will be able to help the buyer and seller navigate this space to come to a mutually agreed upon conclusion for how much training the buyer may need while also allowing the seller to move on in a timely manner.
For more information on the business sale process or to discuss your business goals with a knowledgeable broker, please visit our website or schedule a free consultation today!
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Rachael Holstein joined the Transworld Team in 2016 as Marketing Coordinator. Her working experience has been largely focused on Business Development and Marketing in the finance, architecture, property management, and information technology industries. A long time resident of Cleveland, Ohio, she attained her Undergrad from John Carroll University and a Master’s Degree in Global Interactions from Cleveland State University. She relocated to Denver in 2013 for a change of scenery and a bit of adventure.
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