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I need to sell my business due to health complications. How can I do so quickly?

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Answers (6)
Scott Radin
A.S. Radin & Associates

Get a business market valuation done as proving the value to a buyer is half the battle and greatly expedites the time to sell a business.

Jul 6, 2011
Alan Clark
The Hatteras Group
GA

Priced right with attractive terms (i.e. Seller Financing) will help you sell it quicker. Most restaurants will sell for 25% to 50% of gross if it is profitable. So I would expect offers of $150k to $300k for a restaurant grossing $600k. Hope that helps.

Jul 6, 2011
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bobbie jo's diner
Miami-Dade County, FL

I have a restaurant I want to sell what is a good asking price I am verry ill and I would like to sell easily I grossed 600 000 last year. I would like at least 400 if that's good.

Jul 6, 2011
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what kind of business? I am interested in buying a profitable,well run business. Thanks

May 15, 2009
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Vested Business Brokers
Senior Business Broker
Suffolk County, NY

How quickly you sell will be a combination of asking price, type of business, location. I have sold businesses fairly quickly in the past. It all came down to price, price, price. Are you willing to hold a note on the business? If you want to have a prive discussion on this you can find me on the website under Brokers. Desiree

May 11, 2009
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The BAF Group LLC
MD

Unfortunately, there is no good answer. In most cases, selling quickly translates only into low price. But that can come back to haunt you, since it can raise suspicions and people will be more careful in making a buying decision. Sometimes, it depends on the kind of business you have. If you have a retail store (as an example) that is the type of store that is in demand, have good books and a willingness to finance the deal, you can possibly sell quickly. My suggestion is that you find a Broker that is aggressive is frequently the best bet. But I would not discount looking to family and friends that may have an interest in your business, as well. They already know you and trust you, so the normal dance around whether you are being honest with the Buyer - which is always part of the initial phase of the Buyer's decision making process - is hopefully minimized.

May 7, 2009

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