How Long Does it Take to Sell a Business?

by Vanessa Lovie 12th of March, 2025

Updated: 12th March 2025

How long is a piece of string?

Well, we can give you some general timelines for selling a business, but unlike real estate, business sales aren’t as straightforward. There are no near-identical comparisons, and every business is unique.

Take two cafes, for example. A cafe on a main road selling 15kg of coffee a week and turning $500,000 might struggle to sell quickly if it has a poor lease agreement. Meanwhile, a smaller cafe around the corner selling 9kg of coffee and turning $250,000 could sell faster if it has a secure lease at $500 a week with plenty of options remaining.

Business sales aren’t as simple as comparing a 4, 2, 2 house on a 600sqm block. Every business has different financials, operations, risks, and buyer appeal.

Do we have stats and records of sold businesses? Yes.

Can we tell you exactly how long it will take to sell your particular business? No.

Because no two businesses are the same. The buyer isn’t the same. The operations aren’t the same. And the sale process will always be different.

What is the Consensus on the Time to Sell?

Of the businesses that do sell, most business sales take 6 to 9 months to complete.

Smaller businesses under $500,000 can sometimes sell faster, typically within three to six months, if priced correctly and marketed well.

Mid-sized businesses between $500,000 and $2 million usually take six to twelve months, as they require more due diligence and often involve financing approvals.

Larger businesses over $2 million can take one to two years to sell, as they attract a smaller pool of buyers and require extensive negotiations and financial assessments.

But, as always, it depends.

Depends on the business, the sales process, the advisors you engage, the buyers pool and ultimately how well prepared your business is to sell.

8 Factors That Impact How Long It Takes to Sell

1. The Type of Business

Some businesses are in high demand and sell quickly, while others struggle to attract buyers. For example, cafes, restaurants, and small retail stores often have many interested buyers, but they also have high turnover rates. On the other hand, manufacturing businesses, professional services, and niche B2B companies may take longer to sell due to their specialised nature.

2. How Well the Business is Prepared for Sale

Businesses that are sale-ready will attract buyers faster. This means having clean financials, strong customer contracts, efficient systems, and clear documentation. If a buyer has to dig through messy accounts or unclear lease agreements, they’ll take longer to decide and probably walk away altogether, so try to avoid these mistakes when selling.

3. Pricing Strategy

Setting the right price is crucial. Businesses that are overpriced sit on the market longer, while those priced fairly based on earnings and industry benchmarks sell faster. A business valuation can help determine a realistic price.

4. Buyer Financing and Due Diligence

Even if you find a buyer quickly, the process can slow down due to finance approvals and due diligence. Buyers often need bank loans or vendor finance, which can take weeks or months to secure. Due diligence, where the buyer reviews financial records, contracts, and legal obligations, can also be time-consuming.

5. Market Conditions

Economic factors, interest rates, and industry trends all play a role in how quickly businesses sell. During uncertain economic times, buyers may be more cautious, leading to longer sale timelines.

6. The Business Broker You Choose

A good business broker can speed up the process by targeting serious buyers and handling negotiations efficiently. Some brokers specialise in quick sales, while others focus on high-value deals that take longer to close. It’s important to choose a broker with experience in your industry and a strong track record.

How Long to Sell a Business in Australia

What Happens If Your Business Doesn’t Sell?

This is always a risk, whether you sell privately or a business broker.

To reduce the chance of this happening, you need to be ready for the process and not fall into the trap of seller fatigue - yes it can get exhausting!

If your business has been on the market for over a year with little interest, it’s time to reassess. Ask yourself:

Is the price too high? Review your valuation and consider adjusting it.
Is the marketing strategy effective? Check where your business is listed and how it’s being promoted.
Are buyers struggling with financing? Offering vendor finance (where you accept partial payments over time) can attract more buyers.
Is the business too dependent on the owner? If your business can’t operate without you, buyers may hesitate. Consider training staff to take on key roles.

Tips to Speed Up the Sale

First take a look at these 10 questions buyers could ask. Then work backwards, how can you answer these questions.

Preparation is everything, you will slow down the whole sales process if the buyer has to wait.

We have a whole guide on selling your business that could help.

So, How Long Will It Take for You?

Selling a business isn’t an overnight process. On average, expect it to take six to nine months, but it can be quicker if your business is well-prepared and priced right.

If you’re serious about selling, start preparing early. The better prepared your business is, the faster you’ll find the right buyer and the better price you’ll get.

Originally published: 18th April 2019

Tags: selling a business exit strategy