How long will it take to sell my business?
Business sales are unique in that businesses are unique. When selling a home, there are typically many homes with similar attributes that are attractive to a potential buyer. However, all businesses are different, and as such it will typically take several months to find the right match. Industry statistics suggest that, on average, a small business will sell in 184 days. There are many factors that may make the sales period longer or shorter, including asking price, location, the type of business, seller’s discretionary cash flow, down payment, financing availability, terms and conditions of the sale, and the overall availability of buyers. When a business takes an unreasonably long time to sell, the prime culprit is typically an unrealistic asking price, low discretionary cash flow, and the seller’s need for a down payment that is too high.
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