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How to Sell a Business Quickly and Easily in 2024

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The time it takes to sell businesses could be enough to frustrate the seller or make them change their mind.

If there is no ready buyer, bidding for the company before you even decide to sell, it might take a few years to sell.

Even before the brand could be ready to get to another owner a lot of preparation has to go into it.
But, if you need the money urgently for any reason, there are ways you can make quick sales in only a few months.

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The first step is to start the sale plan early whether or not you might want to sell.

Also, you can streamline the operation of the brand and carry out a few other processes.

We have listed out all the steps to sell your business quickly and explained how to go about them in this article.

Also, this piece will educate you on how long it will take to sell your business, why you might want to do it, and a few other things.

So, continue reading if you want to learn.

Can You Sell Your Business Quickly?

Regardless of the popular notion of the lengthy time it takes to sell a brand, you can sell yours quickly; it is possible.

You, however, need to put many things in place.

Also, there will be a need to work around the clock to find some willing to continue where you have started with the business.

To do this effectively, there are things you might want to avoid. Some of them are:

  •  Laziness: This, for many reasons, has been the cause of the most sluggish movement people have encountered in anything they do. It makes you postpone things you can do now, waiting for a more convenient time that never comes.
  • An inefficient team: Selling a brand requires delegation of tasks since there is much work to do. So, you need a team that is dedicated to the course and will work around the clock to ensure that things work. An inefficient team will only slow things down more.
  • A poor pitch: Pitching your business to potential buyers is a part of the process that you almost cannot skip. So, the pitch must be compelling enough to make them want to release their money for acquisition. A poor pitch will only ruin your chance and make you spend more time trying to sell.

Possible Reasons Why You Can Sell Your Business

Many people don’t just wake up and decide to sell their businesses without any trigger, but some other people do. There are many reasons why people sell. Here, we will discuss some of the possible reasons anyone would want to sell their brand. It will help you to know when to let go of yours.

  • Retirement

    If you have been working all your life, building the business, you might want to consider selling off when retirement is near. This is especially true when you most likely don’t have anyone to succeed you in the organization.

  • Opening for new opportunities

    When new and better opportunities come knocking, it is safe to drop the old things and face them head-on. Especially when these new opportunities require your undivided attention and they are in an entirely different field from your brand.

  • Burnout or fatigue

    For most people, doing one thing in the same pattern every other day can be draining. It can make the best and most hard-working people rethink their essence. It burns people out and leaves them tired of the cycle. When this starts happening to you, it could be time to sell out the organization and find other exciting fields to reinvest.

  • Changing market conditions

    Usually, the market condition of a business doesn’t stay the same from when you started to the present day. It undergoes economic and industrial changes that can make it hard to see growth or even continue with the brand. Here, it could be more strategic to sell the business and exit than to wait for things to get worse.

  • Health reasons

    Some health issues might make you find it hard to continue with the company. So, instead of letting it fall while you fight your health issues, it is a better call to sell.

  • Maximized value

    Some people don’t sell their organizations out of any trigger because it was their plan from the. They start the business when it is not worth much and build it while earning from it at the same time. When the companies grow to be worth a thousand times more than the owners’ initial investment, they sell it out. Some others don’t have the selling intention from the start, but they get it when they see the worth of their brand.

  • Legal or regulatory issues

    If a company is going through any legal or regulatory issue, its worth starts reducing as well as its clients. Here, the bigger risk could be letting it shut down if the owner cannot handle the issues. So, it is better to sell it out to someone who might have the know-how to maintain the company.

    How Long Does It Take to Sell a Business?

    Selling a business through regular procedures takes a range of about two to five years. It, however, ranges between this timing because of some factors like:

  • The size: The size of the company can make it take longer to sell or a shorter time. Bigger companies that are worth more can take longer to sell because of the price involved and the preparation that goes into it.
  • The complexity: Brands with complex services require more research to find buyers. You need a buyer who knows how the system works and they don’t come by easily.
  • Market conditions of the company: If the company is going through tough market conditions, it might take more time to prepare it for sale or find a buyer. This is because most people prefer to buy a business only if it is stable.
  • The goals of the owner: Your goals as the owner of the company can affect the time it takes to sell it. You might want a certain figure, a specific kind of buyer, and a few other standards you set.

The overview of the business selling timeline

Here, we have given an estimate of the major phases and the time it will take.

  • The preparation phase: This is where you ensure that the company is ready for you to list it for sale. Here, you need to prepare financial documents, close up deals to seal operations and work on outstanding issues. Next, you need to evaluate the worth of the business with market research and analysis. You can also employ the help of professionals for this.
    For the preparation process, you need to arrange important documents of the business. Some of them are for taxes, financial statements, contracts, and more. This phase usually takes about 6 to 24 months.
  • The listing and marketing phase: This is where you put the organization up for sale and find buyers. Here, you need to hire extra hands of professionals, get marketing materials and strategies, and find buyers. It takes about 12 months to 24 months to get through this phase.
  • The negotiation and due diligence phase: This is where you negotiate the price the brand is going for with the interested buyers. You need to engage with the buyers, get their offers, and negotiate sale terms. Next, you will allow the potential buyers to conduct due diligence, examining the company’s operations, finances, and others. This phase takes about 6 months to 12 months.

How Can You Sell Your Business Quickly?

  • Here are the easy ways to sell your business quickly.

    1. Stay Ready or Start Planning Your Exit Early

    Exiting a business takes time including the planning and preparation stage. The best time to plan the selling of the company is when you start the company. Every company you own will not remain yours forever. You will retire, leaving it for your successor, or sell it out.
    So, it is better to stay ready by planning from the start, so you won’t need any preparation time when you have to exit. If you haven’t put the planning in place already, this is the second best time to start.

    2. Improve the Operation of Your Business

    You can find a buyer for your business faster when it operates smoothly. When you list such a company for sale, there will be many interested parties willing to acquire it. Aside from saving the time you would waste to find potential buyers, this move can also cut short the preparation time.
    This is because any organization with smooth operations has its financial books in place. Its documents only need little or no arrangement when it is time for sale. With this, you can cut the time to about 3 months or less.

    3. Choose the Right Time to Sell

    You can select a perfect time to leave the company, so you don’t have to hurry out, leaving things messy. Not letting the situation choose when to sell for you can impact the outcome of your sale. It is better to sell your business when it is thriving and its market conditions are favorable.
    Picking such a time can make the work easy for you and drive a faster sale. Buyers won’t need to spend much time conducting due diligence to make sure the company is in perfect condition.

    4. Make Your Financial, Legal, and Operations Documents Ready

    Confidence in your product is one of the ways you can sell out fast. It convinces clients that you know what you are doing and the product is a quality one. The same strategy works for selling your business.
    One great way to boost your confidence here is to make sure your documents are ready even before the clients come. They don’t have to meet you disorganized, trying to curate financial, legal, or operations files. It will reduce the selling speed.

    5. Make a smooth transition plan

    It is not enough to do the above-listed things, you also need to make a plan for a smooth transition to the next owner. Although this plan will be executed after the deal has been sealed, the plan has to be ready before then.
    It shows how organized you are and how serious you are about making the transactions. It also shows your commitment to ensuring a smooth change of ownership. Since everything is ready, you and your client can proceed to sign the documents to switch the company’s ownership.

    Conclusion

    Selling your company is usually not an easy task to take on and it is not a swift one as well. It can take about 3 years or more before you successfully change ownership of the brand to a buyer. You can, however, make it faster and sell the company in about 2 years or less.
    To do this, you need to start preparing early enough, improve the operations of the business, and choose a perfect exit time. Also, you can make sure that the legal and financial documents of the company are already organized, and other things. Regardless of your reason for exiting your company, you can use these procedures to make it fast.

    FAQs

    How can you successfully sell your business?
    To successfully sell your business, you need to evaluate its worth, prepare it for sale, and find a buyer. Next bid price with the buyer, collect the money and I transfer ownership.
    Where is the best place to sell a business?
    The best place to sell a business is on a broker. There are business brokers where you can list yours for sale and buyers can contact you through the platform.
    How long does it take to sell a business?
    It takes about 3 years to sell a business. It can be more or less, depending on factors like the size, complexity, market conditions, goals of the seller, and a few more.

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