Questions and Answers Regarding The Sale of Your Business

1) How long will it take to sell my business? It generally takes, on the average, between five & eight months to sell most businesses. Some businesses will take longer to sell, while others will sell in a short time. The sooner you have all the information to begin the marketing process, the shorter the time period will be.

2) Why is seller financing helpful to sell my business? Surveys have shown that a seller who asks for all cash receives on the average 70% of their asking price, while sellers who accept terms receive 86% of their asking price. In many cases, businesses, that are listed for all cash just don't sell. Most sellers are unaware of how much interest they can receive by helping finance the sale of their business. In  some cases it can greatly increase the amount received through a higher selling price and the interest on the note.

3) What can I do to help sell my business? The buyer will want up-to-date financial information. Time is of the essence in any business transaction. If a buyer is waiting on information that is needed to make an offer and they don't receive it in a timely manor they may turn away.

4) What happens when there is a buyer for my business? When a buyer is sufficiently interested in your business, he or she should submit an offer in writing with a good faith money deposit. You may at this time accept the terms of the offer or you may make a counter offer. If the buyer does not accept your counter offer, the buyer can withdraw his offer at any time.


Thought for the Day

"The only thing worse than training employees and losing them is not training them and keeping them."
- Zig Ziglar

Christopher J Tallino, Vice President

After graduating from Johnson and Wales University, with degrees in both Hotel and Restaurant Management and Culinary Arts, Christopher joined Houlihan's Restaurant Group. For 14 years Christopher was Executive General Manager for several locations in the greater Philadelphia area. In 2002 Christopher joined the HRI Services team. Christopher opened the Philadelphia office and in 2004 joined the Boston office. Christopher brings a great deal of experience in restaurant business management and in the field of culinary arts.