Everyone in the United States has been affected by inflation in one way or another. As many of us know, what follows inflation is a recession. As a business owner, a recession can be a daunting reality, especially if you are hoping to sell your business. While our current economy is a bit unstable, you might be wondering how long it will take to sell your business. The short answer? It depends.

There is a lot of data that averages the selling process to six to nine months, but genuinely it could sell overnight or take a bit longer. The key to a quick sale is to have everything in order before listing the business. The guidance of a business broker also does wonders for streamlining the process, preparing information for buyers, reviewing the process with you (the Seller) which helps the business sell more quickly. Transworld, also has a Buyer Match program of pre-vetted buyers, looking for a business such as yours.

If the goal is to sell the business as soon as possible, broker guidance is invaluable. A typical timeframe for selling a small business is as follows:

Stage 1: Find a business broker (1-2 weeks)
Stage 2: Complete a business valuation (2-3 weeks)
Stage 3: Preparing the business for sale (4-6 weeks)
- e., organizing financial documents; creating a Confidential Business Memorandum (CIM), pre-qualifying the business for an SBA loan, writing the advertisement copy and Preparing a Seller’s Disclosure.
Stage 4: Marketing (1-4 months)
- e., listing your business within a network of interested buyers
Stage 5: Negotiations (2-4 weeks)
Stage 6: Closing (2-3 months)

If you are wanting to sell your business, especially during an economic downturn, you will need to partner with a professional business broker. A business broker can not only make the process faster, but they can also help you make the highest profit by vetting and finding you the perfect buyer. Without this extra boost of help, you could find yourself overwhelmed and selling to whoever seems easiest.

Your business is important to you, so it is important to us. Contact Transworld Business Advisors San Diego North to see how to get started on your business sale!