What Determines How Long It Takes to Sell Your Business
When you wish to sell my business Burbank, the first question you will ask is how long it will take to sell it. There is no straight answer to this question because several factors determine how long it takes to sell. The team you hire to help with the sale will also matter. At So-Cal Business Brokers, we have found that there are four main things that determine how fast a business sells.
When you want to sell my business Burbank, timing is everything. You have to look at the current market climate and the condition of your business before you sell. When the economy is doing well, for example, selling a business will be much easier. The bank interest rates will also matter. High interest rates make it hard for buyers to get loans and that makes it hard for them to purchase businesses. When you come to us, we will first consider the type of your business, the industry it is in, its current condition and the ideal buyers. This information helps our business brokers in Los Angeles determine if selling now would be a great idea.
Nature of business
The nature of your business will affect how fast you end up selling. Some businesses are harder to sell than others.
- How big is your business? Bigger is not always better.
- How profitable is your business? The bigger the profits the easier it will be to sell.
- What is the level of competition your business faces in the marketplace?
- Does your business have a strong history?
- Does your business have buzz?
Business’ operating structure
In our experience, a business with a well-documented operating structure is easier to sell. This is why one of the first things we do when you hire us is to evaluate and refine your operating structure. We make sure everything is well documented before listing your business.
- Does your business have documented procedures and systems that are followed or do you just make things up as you go?
- Do you have a trained and competent team in place to take charge of the daily business operations or you, the owner, make all the decisions?
- Can your business run smoothly under new management?
How your business is marketed for sale
This boils down to the team you hire to help sell the business. How your business is marketed determines how fast you sell. At So-Cal Business Brokers we don’t just list your business. We market it to the buyers in our database, liaise with other industry professionals to help find the right buyer and also use multiple marketing channels. We don’t just list your business; we follow up to ensure it is getting the attention it deserves. What is more is that we help you prequalify buyers before introducing you to them.
When you wish to sell my business Burbank, you have to be patient. On average, the period between listing and closing takes about 8 months. Contact us today to learn more about our services. You can schedule a free consultation through our websites.