How Long To Sell My Business

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How Long To Sell My Business

• BY
• http//benchmarkbusiness.com.au/

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• HOW LONG TO SELL MY BUSINESS?
• This question is a Sellers burning question and
  is commonly asked. The question is right up there
  with my top three
• How long will it take to sell my business?
• Why are they selling?
• How long has the business been trading? all good
  buyer questions.
• Im going to talk about question 1 only in this
  blog. Experience has taught me that to sell a
  business is a structured process from start to
  finish its a science, not a wish and hope
  process, let me explain.
• From the minute I lay eyes on my new potential
  client the sales process has begun.

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Pitch 1 In meeting with my potential new
clients, I am now selling myself first and our
company (Benchmark Business Sales Valuations)
second in a meet and greet process to establish
the starting point of a working relationship. Im
not there to sign anyone up today thats for
sure. Its too early and I may not like the
business or feel I cannot work with these people.
Imagine this if it feels off or awkward from the
get-go and the Sellers not really showing any
interest, how is it going to feel during the
entire sales or contractual process? Pitch
2 After the initial meeting is completed and I
feel I like the business and have made a
connection with the Sellers, I will then explain
the next steps in moving forward and the
Benchmark process for success, as well as the
actions required by them and me to start the
process of understanding the business and the
mired of information required to allow me to
appraise and sell the business.
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Pitch 3 Everything mentioned above all sounds
good up till now and should have taken at least
10 business days to complete. What does the
heading say  HOW LONG TO SELL MY BUSINESS? this
burning question doesnt just rely on me, it
equally relies on my clients as well. I can only
work at the speed my clients allow me to. So, you
would be surprised to learn that 1 out of 4
Sellers are absolutely ready to sell their
business today and have everything ready to go
without delay. Waiting for information delays the
sale on so many levels, and simply adds to the
timing to selling a business. Its a fine line
for a buyer to ready to purchase and then go cold
on the idea, having everything ready at your
finger tips means there is no waiting, no delays
and no chance for a buyer to lose interest. The
broker and seller should always be in
communication (at least weekly) and working
together. If a Seller shuts down communication,
or is hard to contact, this is only going to
hinder the sale of their business. How will the
seller answer this question? How long to sell my
business?
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Summary Given that the business has been
appraised correctly, its priced right, all the
information is made available. In short (and
excluding franchise sales) a business offered for
sale using the conventional methods should sell
around the 45 day mark from becoming active to
the open market.     Ian SalterREIQ Business
Broker of the Year 2016 2015AIBB
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