Typically it can take anywhere from 9 to 14 months from start to finish depending on various factors. Every business is different and every buyer is different. Some buyers move quickly while others take time to think things over.
One of the most important factors is having all your business related information ready – it shortens the time it will take to get, and keep, the ball moving.
The fees we charge depend on what work we will be doing for you. Our commission rates usually fall into a range between 2% and 8%. Each assignment is evaluated individually taking into account such factors as the size of the deal and how much work will have to be done to successfully reach your goal.
No, there is no cost or obligation for you to meet with one of our agents. We offer a free consultation. The purpose of meeting with an agent is to determine what we can do to help you and to answer any questions you may have before we enter a business relationship together.
There is no definitive answer to this “question” but most owners who have worked with us would say, ” two years before I actually called IBEX.” Finding the right buyer and the right deal can take some time and most business owners do not understand how to prepare for this monumental event.
The sooner you engage with a trusted partner like IBEX the more control you will have over the process. Finally, most business owners do not understand the peace of mind that comes from solidifying their financial position. That is why most owners say the best time was two years ago.
There is one and only one way to discover the value of your business. Offer your business for sale and see what three to five real buyers will pay. Anything else is an expensive guess.
However, the acid test for valuation boils down to this: the income from the business must do three things – It must cover the debt service, it must compensate you for the time you invest in running the business, and it must compensate you for the money you invest in the business.
Most “preferred” SBA lenders will take 30 to 60 days to approve and fund a loan. Keep in mind that closing times will depend upon getting paperwork, appraisals, environmental impact studies, and other matters performed in a timely manner.
It is also important to know that license transfers procedures, which can take 90 days or more themselves, often are not started until preliminary financing has been approved.
IBEX represents you, the seller.