Selling a business in the UK can take a few months to a few years! There is no standard time it will vary for every business. The key factors are whether the business is ready to be sold (is it “Fit to Sell”), is there already a buyer or interested parties lined up, the desire of the buyers and sellers to do a deal quickly and finally quite simply how organised and efficient everyone is.
The best way to look at the time frame is to split the process up in the different stages and how long each one can take. Firstly, the preparation to sell, “Fit to Sell” stage is often overlooked but this alone can take anywhere from no time at all if everything is perfect to a year if the business needs a longer term project to get everything in shape. However usually this takes a few weeks. The next step is the most uncertain, finding a buyer and getting the offer you want. Unless you already have a buyer lined up or have been approached, in which case job done, this process can take just a few weeks to many months and perhaps never as many businesses never actually find a buyer.
Once you have an offer then its onto the due diligence and legal completion. Everyone thinks and wants this to be quick and easy, and it can be, but it is wise to expect that this will take a couple of months to complete as no matter how quick you are, the buyer’s side usually wants to take their time to ensure everything is covered and checked thoroughly. Therefore overall it is usually a process that takes from somewhere from 3 or 4 months on the really quick end to up to year on the slower end of things, but most deals tend to fall somewhere in the 6/7/8 months range when every stage is factored in.