How Long Will It Take to Sell My Business?

How Long Will It Take to Sell My Business?

Comments from Tom West:

Clyth and I are of the same vintage and we share the same feeling about business brokerage. It’s all old school. First you have to love what you do. For the rest of the story, you’ll have to read Clyth’s article below. I wholeheartedly share Clyth’s feeling expressed in the last line of the first article.

How long will it take to sell my business?

The more things change, the more they stay the same.

When I first sold businesses 50 years ago sales agreement forms were only 2 pages long, IBM golf ball typewriters had been introduced the year before, commission rates were 2%, and supermarkets and shopping centres were in their infancy.

No internet. No cellphones. No faxes. No emails. No photocopiers. No PCs.

But we sold a stack of businesses. Most communication was face-to-face or phone. Sometimes mail. Carbon paper was essential. Handwriting was legible. We delivered documents and got to know accountants and lawyers.

Technology has changed the way we work and the way we communicate, but I am not certain that it has improved productivity in the business sales world.

Today, we have an enthusiastic and professional team who share my belief in the benefits of business ownership, but perhaps, spend more time in front of the computer screen than face to face with buyers and sellers.

Ours is still a simple business – find a good business to sell, market it, negotiate a sale, and help to get it settled – and care for the people involved.

Sometimes I feel like a dinosaur… but I do love my i-pad!



Biz News Market Report

Business sales activity has been excellent in February with strong response to our marketing initiatives, a steady flow of new listings, and the most number of signed sales for some months.

We think the problems in the global economy are far from over, but NZ buyers and sellers of businesses realise they need to get on with their lives. Business owners are getting realistic about their price expectations and buyers are paying fair prices for sound businesses.

We believe owning a business is still the best investment offering income, independence, control, return, and capital gain opportunity.

Buying or selling, we would love to talk to you.