How Long Will You Stay With Your Business After its Sale?
This is one of the first questions most people who want to sell my business Dana Point ask when they come to us. The majority of business owners want to be free of their sold business as soon as possible. The truth of the matter is whether you want to close your business or are simply transferring ownership to a new owner, you will have to stay on a little longer after closing. At So-Cal Business Brokers, we try to make the transition as swift as possible. Here are some of the things that determine how long you will have to stay with the business.
Size of business
In our experience, we have learnt that the duration the seller stays with the business after its sale will depend on both the type of business and the seller. Larger businesses will cause you to stay on the longest. This is because large businesses such as manufacturing facilities have many moving parts than the smaller businesses. As the business owner, you may have to stay on for up to a month or even longer. This is something you need to account for when you say you want to sell my business Dana Point.
In addition to the smaller businesses, when your business was purchased by a buyer who wants to acquire a second location for their business, you as a seller will not need to stay on for long. You can be done within a week.
Amount of training needed
Business owners normally stay on after the sale to facilitate transition. As the business owner, you may have to offer training to the new owner. The amount of training the new owner will need to understand your business will determine the duration you end up staying on. At So-Cal Business Brokers, we can help you get the best training arrangements. In most cases, our clients only stay on for two weeks training the new owners. If there are special circumstances that require you to stay longer than the two weeks, we will help with the negotiations so that you get the best deal.
If you have opted for seller financing, you may have to stay longer with the business. This is because your interests are tied to the success of the business.
Our team will help you navigate this space to help come to a fair agreement on how long you should stay on with the business after the sale. If you need more help selling your business, give us a call. We will help you understand the process and ensure you get maximum profit.