It generally takes, on average, between five to eight months to sell
most businesses. Keep in mind that an average is just that. Some
businesses will take longer to sell, while others will sell in a shorter
period of time. The sooner you have all the information needed to begin
the marketing process, the shorter the time period should be. It is
also important that the business be priced properly right from the
start. Some sellers, operating under the premise that they can always
come down in price, overprice their business.
This theory often “backfires,” because buyers often will refuse to
look at an overpriced business. It has been shown that the amount of the
down payment may be the key ingredient to a quick sale. The lower the down payment, generally 40 percent of the asking price or less, the shorter the time to a successful sale.
A reasonable down payment also tells a potential buyer that the seller
has confidence in the business’s ability to make the payments.
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