Selling a business raises a lot of questions — financial, legal and personal. These answers cover the ones I hear most. For anything else, start a confidential conversation, or read the full guide at sell my business.
Straight answers
How do I start the process of selling my business?
Clarify your goals and timing, then prepare the business and assemble an attorney and CPA. See sell my business.
Do I need a lawyer to sell my business?
Yes. Your own attorney should review the letter of intent and draft or review the purchase agreement, even if you sell to someone you trust.
Do I need a business broker?
Not always. Brokers bring buyer reach and process; direct sales can be faster and more private. See business broker and sell a business without a broker.
How long does it take to sell a business?
Preparation can take a year or more; from letter of intent to closing often takes a few months. See steps to sell a business.
How much is my business worth?
It depends on how much cash flow a buyer believes it will produce and how risky that is. See how to value a small business.
Will my employees keep their jobs?
That depends on the buyer and the deal. Many buyers — including operator-buyers like me — want the team to stay, because the people are a big part of the value.
How do I keep the sale confidential?
NDAs, staged information and careful timing. See sell a business confidentially.
Will I have to stay after the sale?
Usually for a transition period, and sometimes longer under a consulting agreement. See seller transition period.
Can I sell my business to Ben Lovro?
If it’s an established South Carolina business that fits what I buy, possibly. See South Carolina business buyer or start a confidential conversation.