Selling a business is six stages long and the first two decide the price: get the books straight, work out what it is worth, choose who sells it, market it, survive due diligence, close.
Prepare, and it takes longer than you think
Three years of clean financials with personal spending separated out, a written list of what is included, contracts and leases assignable, and a plan for the part of the business that only works because you are there. The SBA's own guide to closing or selling a business puts preparation first for the same reason: everything after it is priced off what you can show.
Then price it as a method, not a number
Small businesses are priced on seller's discretionary earnings times a multiple; larger ones on adjusted EBITDA times a multiple. Empire Flippers publishes its own version of this arithmetic for online businesses: the last twelve months of net profit multiplied by a range. Nothing on this site says what your business is worth, and a free valuation from a broker is a marketing estimate rather than an appraisal.
Then choose the route, and expect diligence to be the hard part
The route decides the fee and the buyer pool. After an offer, due diligence is where most sales die: a buyer's accountant reconciles what you claimed against what the bank statements show, and any gap becomes a price renegotiation. The cleaner the preparation, the shorter this stage and the fewer the discounts.
Questions people ask about sell a business
How long does it take to sell a business?
Plan for six months to a year end to end. Empire Flippers publishes an average of 124 days from listing to sale on a curated online marketplace; preparation before the listing is usually longer than the listing itself.
What does it cost to sell a business?
The broker's fee is the largest line and the published US figures here run from 5% to 15% of the price, with flat floors underneath. Add legal fees, and possibly an accountant to prepare the financials.
Do I need three years of accounts?
Most buyers ask for three, and every route asks for at least twelve months. Businesses that sell quickly are the ones that can answer the first document request the same day rather than assembling it over a fortnight.