202 Days to Sell a Business is the Latest Benchmark.

Selling a business is rarely a quick process.

Bsale’s latest marketplace review found that businesses marked sold on the platform had a median time on market of 202 days, roughly 6.5 months from listing to being marked sold.

For years business brokers have been saying it takes 6-9 months to sell a business. This latest review of the 2026 financial year, continue to back this up. If sellers dont leave enough time to exit, they may find themselves with a big problem. 

 

Why does selling a business take so long?

 

A business sale involves far more than placing an advertisement and waiting for an offer.

Before a business reaches the market, owners need to prepare financial information, work with their accountant, review the asking price, organise supporting documents and speak with a business broker.

Once the business is listed, buyers need time to discover the opportunity, make enquiries, review information and decide whether the business suits their goals and financial position.

When the right buyer is found, the process can then move through negotiations, due diligence, finance approval, lease discussions, contracts and settlement.

Each stage can add time.

A landlord may need to approve an incoming tenant. A buyer may be waiting on finance. Accountants and solicitors may need to review documents. Some industries may also require licences or approvals to be transferred.

Unlike residential property, two businesses in the same suburb can also be completely different propositions.

Profitability, staffing, leases, customer concentration, owner involvement, assets and industry conditions can all influence how buyers assess an opportunity.

 

Finding a buyer is only part of the process

 

One misconception sellers can have is that once an offer is accepted, the sale is almost complete.

Often, it is not.

An accepted offer can simply mark the beginning of another important stage.

Buyers will generally want to verify the information they have been given before committing to the transaction. Due diligence may involve reviewing financial statements, tax returns, leases, employee arrangements, contracts, licences and equipment.

Finance can also affect timing.

A buyer may be committed to purchasing the business but still require formal lender approval before proceeding.

That is why sellers should continue operating the business normally throughout the sale process rather than treating an accepted offer as a completed transaction.

Until settlement occurs, there can still be hurdles to clear.

 

Start with your exit date and work backwards

 

The 202-day median is particularly relevant for owners planning retirement, relocation or another major change.

If an owner wants to leave their business by June, deciding to list it in April may not allow enough time for the normal sale process.

A better approach is to work backwards from the desired exit date.

If the median selling period is around six and a half months, and additional preparation may be required before the listing goes live, owners may need to begin planning many months earlier.

For some, that could mean speaking with their accountant or business broker nine to twelve months before they hope to exit.

 

Pricing matters

 

Price can also have a major influence on time on market.

Owners understandably want to maximise the return on a business they may have spent years building.

But the asking price still needs to be commercially realistic.

A business that is significantly overpriced can remain on the market for an extended period before the seller adjusts expectations.

Long periods on market can then create another challenge, as buyers may begin wondering why the business has not sold.

A realistic pricing strategy does not guarantee a quick sale, but it can help ensure the opportunity attracts the right buyers from the outset.

This is one reason professional advice can be valuable before a business is brought to market.

 

 

Some businesses will sell faster than others

 

The 202-day figure should not be treated as a countdown.

Some businesses will sell much sooner.

Strong financial performance, a desirable location, established management, clear systems and realistic pricing can all help attract buyers.

Others may take longer.

Highly specialised businesses can have a smaller buyer pool. Larger businesses can involve more complex due diligence and finance. Businesses heavily reliant on the owner may also require greater planning around transition and handover.

Buyer demand also changes between industries and throughout the year.

Bsale’s FY2026 data showed enquiry activity was strongest in the final quarter of the financial year, with April to June accounting for 29% of annual buyer enquiries.

 

Preparation can reduce unnecessary delays

 

One of the most useful lessons from the 202-day median is simply to prepare earlier.

That does not mean an owner needs to put their business on the market immediately.

It means getting the foundations in place.

Financial accounts should be organised and easy to understand. Lease terms should be reviewed. Important agreements and records should be accessible. Owners should also consider how dependent the business is on them personally.

The more organised the business is before going to market, the easier it can be for a serious buyer to assess the opportunity.

Good preparation will not eliminate every delay, but it can prevent avoidable ones.

 

Selling a business is a process, not an event

 

For many owners, selling represents the final chapter of years of work.

It makes sense that the process can take time.

Bsale’s median of 202 days provides a useful benchmark for owners considering an exit, but the bigger message is about planning.

A business might find the right buyer quickly, or it may take many months.

The seller who starts preparing early has more flexibility to navigate the process without being forced into decisions because of an approaching retirement date, lease expiry or other deadline.

If you are thinking about selling a business, it pays to plan for the process not just the initial listing.

Tags: selling a business market report sell a business

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