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There are many reasons why you might choose to sell your business and there are many types of buyers who might be interested. Staff, partners, shareholders and the open market are all potential buyers. Regardless of who you decide to sell your business too, the process can be quite lengthy and, depending on your circumstances, can be quite complex.
Most sellers are unaware of the time frame involved to sell their businesses. It takes on average 3 to 6 months to sell a business and sometimes longer dependent on your sector. Some sellers fail to advertise the sale of their business for long enough and by doing this they can sometimes miss out on valuable enquiries.
Its not easy selling something youve spent so much time building, and selling a business often evokes strong emotions. If this is the case, then objective professional advice is vital to ensure you dont get carried away.
This article is the first part of a series 10 guides designed to explain how to sell your business. It’s a master class that’s meant to steer you clear of the common mistakes and guide you to achieving the best possible price for your business.
Subjects covered in this guide include proper planning when selling, professional who can help, preparing to sell a business, finding buyers, presenting your business, valuing a business, negotiating the sale, due diligence and completing the sale.
To go to the next chapter in this article click on the following link: Planning to sell