What timeline is reasonable for a sale?
• 6 months to 15 months is reasonable. Shorter and longer are possible, but will rarely generate the highest price • For a distressed business sale, we have completed the sale of a company in 2 weeks before, but such a quick sale inevitably reduces the sale price. • The early part of the process and talking to buyers can be done in weeks, but it is better to take your time. You should spend time carefully planning the process and preparing your company. More haste early on = a lower sale price, longer to complete the sale and often leads to unnecessary complications later in the process. • Once the ball is rolling, stay in control and wherever possible stick to your deadlines. Invariably, the process will be stalled for one reason or another, but in most cases, the quicker the sale process, the higher the sale price. • You should spend twice as long planning and preparing as you should negotiating with buyers, assisting in due diligence and closing the deal.
