Tip #60: Why Does it Take So Long to Sell a Business?

closing a business dealBusiness Owners must be aware that the process of selling a business is complex and can take time. Each business is unique and there are many steps along the way — particularly if the deal includes outside lender financing. If it shows strong cash flow, it usually will sell quicker. And when the financials are clean and straight forward, it makes it much easier. Business owners must prepare their business for sale so it looks attractive to buyers. Profitability and anticipation of future success to a buyer is critical. And Business Owners must have patience in the process of putting it on the market, finding a buyer that is a good fit and getting to the closing table.