How long does it take to sell a small business?

Most small business sales take 6–12 months from preparation to closing. Businesses that are prepared for due diligence often move through the process faster and encounter fewer negotiation surprises.

What documents are needed to sell a business?

Buyers usually request financial statements, tax returns, customer concentration reports, employee information, operational documentation, contracts, and leases. Preparing these documents early improves credibility and speeds up due diligence.

Should I hire a broker before preparing my business for sale?

Many owners engage brokers before their financial records, contracts, and operational documentation are organized. Preparing your business first allows you to present a stronger opportunity and maintain negotiating leverage.

What happens during due diligence when selling a business?

During due diligence, buyers verify the financial, legal, and operational information provided by the seller. They review financial statements, tax returns, contracts, customer concentration, employees, and operational documentation to confirm the accuracy of the business opportunity.

How do I prepare my business for sale?

Preparing a business for sale usually involves organizing financial records, clarifying revenue streams, documenting operational processes, addressing legal or tax issues, and preparing information that buyers expect during diligence.

What is a data room in a business sale?

A data room is a structured collection of financial, legal, and operational documents that buyers review during due diligence. Organized data rooms speed up the sale process and reduce buyer uncertainty.