When you’re ready to sell your business, having an accurate idea of how long it will take is crucial. Numerous factors influence the sale timeline, and finding an interested buyer is just the beginning.
At Onyx Solicitors, we have extensive experience in mergers and acquisitions. In this guide, we’ll explore the stages of selling a business, the timeline, and our top five tips for selling quickly.
How Quickly Can a Business Sell?
Understanding that no universal rule dictates how long it takes to sell a business is essential. The process’s speed varies based on factors like the business size and industry.
Steps include valuing your business, finding a buyer, negotiating a purchase price, and completing due diligence and legal steps. On average, the process takes six to twelve months, though it can be shorter or longer. A skilled business acquisitions specialist can help set a realistic timeline.
How to Sell Your Business Fast
Though time-consuming, certain strategies can expedite the selling process. Whether you’re selling a small business or a larger organisation, here are our top five tips:
Prepare Your Business
Ensure your business is sale-ready. Provide all necessary information to interested parties, such as up-to-date accounts, tax returns, sales history, contracts, property leases, and more. Ensure ongoing business operations can run smoothly in your absence.
Choose the Best Time to Sell
Timing can impact how quickly you find a buyer. Consider the state of the economy and your business’s growth trajectory. Selling during high profits ensures better chances, while new opportunities arise in the first quarter.
Find a Good Business Broker
A broker can speed up the process by finding buyers and handling negotiations. Choose a reputable acquisition specialist with a proven track record to ensure a smooth transition.
Sell Off-Market
Selling confidentially to a select group of experienced individuals can be faster than a public sale. Onyx Solicitors works off-market, connecting with thousands of serious buyers looking for acquisition opportunities across the UK.
Set a Fair Sale Price
Setting a fair asking price attracts prospective buyers. A business broker or financial adviser can help value your business based on cash flow and earnings after tax. Be reasonable and open to negotiations.
Why Choose Onyx Solicitors?
At Onyx Solicitors, our team is dedicated to speeding up the selling process by connecting you with serious buyers interested in lucrative acquisition opportunities. We work hard to negotiate swift, fair deals that benefit both parties.
Your Next Step
If you’re considering selling your business, let Onyx Solicitors help you navigate the process efficiently and effectively. Call us today at 0121 268 3208 or email info@onyxsolicitors.com to book a FREE consultation. Our team is ready to provide comprehensive guidance and support to ensure a successful sale. Moving forward with confidence and competence starts here.
