Q: How long will it take to sell my business?
A: The average is three months to one year, but that’s just an average. Some restaurants stay on the market longer than a year; others may sell in the first month. The sooner we have all pertinent information to establish a realistic asking price and begin marketing activities, the sooner we can sell your restaurant. Realistic pricing is the key. Some sellers set a high price, believing they can reduce the price later. Unfortunately, buyers often refuse to even consider overpriced businesses.
Down payment is another factor that influences time on the market. A lower down payment – generally 30% or less of the asking price – produces a quick sale. A reasonable down payment shows that the seller is confident the business can support the payments.