If you are interested in selling your business, you should know that the selling process is neither immediate nor easy, so gather a good deal of patience when you decide to begin.
It typically takes 9-12 months to get the business through the process from listing (start) to closing (finish) so patience will come in handy.
If you are someone who is looking for an immediate exit, speak to a business broker about the reasons for taking your time when selling your business. A patient seller is likely to get a greater return on their business investment of time, energy, and money than someone who wants out today.
When you are looking to sell your business, there is one very important question to ask. What aspect of the business sale process is the most important? Staying in business!
An existing business sells for much more than you would get liquidating your physical business assets after the doors are closed. In fact, the last few months of owning your business are where you should push the hardest for better numbers. Better numbers might mean more money for you at the closing table.
Are you someone who has sold a business in the past who understands the importance of patience? Did you have a business that closed, resulting in the liquidation of assets instead of a business sale? If you have advice for today’s business owners who are looking to sell, please leave a comment here.