The BizBuySell Small Business Community

  • Get Expert Advice

  •  • Find Local Service Professionals

  •  • Share Your Experiences

How long does it take to sell a business in this economy? Are most sold that are listed here?

I just listed my business last night (seasonal business, personal phone calls from Santa Claus) and am very much anxious to sell due a death in the family. I'm curious if anyone knows how long it might take to sell an internet based business? I'm hoping that by listing during our season where we get the most press and traffic might help. We're at 3x multiple.

No User Photo

Answer This Question

max 5000 characters

Web Reference (optional)

e.g., "www.mywebsite.com"

Review Community Guidelines

Help keep our Community clean and on topic. The BizBuySell Community is a place where you can discuss your questions, concerns and knowledge with others you can trust. It is not OK to use this forum to solicit others for personal or financial gain, or to rant about personal issues. It's all in the guidelines.

Submit Your Answer
Answers (2)
No User Photo
The BAF Group LLC
MD

My sympathies for the loss in your family. Seasonal businesses are always difficult to sell, and you have gotten it off in a rather bad time - not in terms of the economy, but in how late you are in starting, relative to your season. By the time people get the information, have a chance to get data regarding the earnings and then study the application sufficiently to make a buying decision, this season will be over. Then, you have a situation where people will not want to purchase it right after your seasonal high, because they will effectively be carrying the debt service without hopes of receiging any demonstrable income until late next year, when the business picks back up.

You will probably need to finance this kind of business yourself; it is doubtful any bank will finance it and it is even more doubtful that any Buyer will be willing to pay cash, in advance. Therefore, you may want to think about taking as much in advance as you can, and think about not taking any payment until the next season begins. That could increase the chances of selling successfully and more quickly. Obviously, you will want to secure your note with personal guarantees by the Buyer and his/her spouse, if any.

The economy is not the problem. Financing and - in your case - timing are greater issues, I believe.

Dec 4, 2009
No User Photo
Freedom Business Brokers
Orange County, CA

Although it is difficult to assess the time frame to sell any business in this depressed economy yet there are some positive steps if you take will minimize the time .They are as follows:
Advertise your product where there is a market for it meaning therby on inernet websites or local or national magazines belonging to specific trade)or newspaper.
Describe the product in such a way it appeals to masses or common buyer in a layman language instead of using complicated words or technical terms that are understandable by a specific group that deals in that business. Most of the time the buyer comes out of the blue where he knows nothing about that business. Remember the buyer who knows about your product may not necessarily be the buyer,as a matter of fact be cautious and careful not to give too much specific details about the product as he may be using you to gain information under the pretense of a buyer.
Always be ready to answer promptly and don't go into details in the initial interview.Ty to meet the buyer or make an attempt to leave a margin for second meeting or phone call even if you know the answer to the question say I will find out and get back to you.
If there is no response for the price you are asking lower the value but in the first place ascertain the right value to your business,because if you start with a outrageously high price buyer has a tendency not to respond even if you lower the price.It is just like a child wants to have a toy but he doesn't get in time later throws it out of madness.
Last but not least don't show your nervousness to buyer how desperate you are to sell the business
it doesn't mean that you don't reveal the reason to sell you reveal it but you should n't say bring any offer otherwise you will see a ridiculous offer you may not like. Say it I will consider a reasonable offer for my business. Also try to feel how much money the buyer has. If he has no money at all don't waste your time with him or just the reverse if the buyer has lots of money he may not be a serious buyer. He may be playing with you just to have fun or to kill time.
Good Luck!!

Dec 4, 2009

Start a Discussion