What a business sale looks like, month by month
A realistic timeline from first conversation to handover, and how much of your time each stage takes.
By Owners are often surprised by how long a sale takes, and by how much of it happens while they are still running the business. Every sale is different, but knowing the usual stages helps you plan your time and your life around it.
Weeks 1 to 4: first conversations
An informal chat or two about your business, your goals and your timing. No accounts or customer details needed yet.
The main question is whether it's worth both parties spending more time.
Your time: a couple of hours.
Weeks 4 to 10: information and an indicative offer
If there is mutual interest, you agree how information will be shared, often with a confidentiality agreement. You share summary financials and an overview of how the business runs.
The buyer then gives a non-binding indicative offer, ideally in writing and broken into its parts.
Your time: several hours with your accountant pulling figures together, plus a few meetings.
Months 2 to 4: heads of agreement and due diligence
If you like the offer, the key terms go into a heads of agreement. The buyer then checks the detail: financial records, contracts, leases, licences, staff arrangements, equipment and customer relationships.
Finance approval often runs alongside.
Your time: this is the busiest stage. Expect questions most weeks.
A well-organised owner gets through it faster.
Months 3 to 6: contract, consents and completion
Solicitors draft and negotiate the sale contract. Landlord consent to transfer a lease and the transfer of licences or accreditations can take weeks, so start early.
On completion, ownership changes and payment is made as agreed.
Your time: meetings with your solicitor and accountant, and conversations with your landlord and key suppliers when the time is right.
After completion: the handover
Most sales include a handover period where you introduce the new owner to staff, customers and suppliers and pass on what you know. It might be a few weeks or several months, depending on the business and what you agreed.
Your time: agreed in advance, in writing, including how many hours and for how long.
Your checklist
What to do next
- Book time with your accountant early
- Find your lease and check the transfer clause
- List licences and who holds them
- Decide how long you are willing to stay on
- Plan when staff and key customers will be told
- Keep running the business well throughout
Example
A fire protection business took about five months from first conversation to completion. The longest single delay was waiting for the landlord to approve the lease assignment, which the owner could have started earlier.
An illustrative example, not a real client or transaction.
Questions owners ask
Can it happen faster?+
Sometimes, when records are tidy, finance is simple and there is no lease to transfer. Rushing due diligence rarely helps either side.
Can I pull out partway through?+
Before contracts are signed, generally yes, although any exclusivity or confidentiality terms you have agreed still apply. Check with your solicitor.
Do I keep running the business during the sale?+
Yes. Keeping results steady during the process matters, because a dip can change a buyer's view.
Important
This article is general information only. It doesn't take your personal circumstances into account and isn't financial, legal, tax, employment or valuation advice. Velaro Group is a buyer of businesses. It isn't a business broker, licensed financial adviser, registered tax agent or law firm, and it doesn't act for sellers. Please get advice from your own accountant, solicitor or financial adviser before making any decision. Read the full disclaimer.
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