--- title: How Long Does It Take to Sell a Business? url: https://www.stratworthadvisory.com/insights/how-long-does-it-take-to-sell-a-business/ description: How long selling a business takes depends on preparation: the stages of a sale, what slows deals down, and why the clock starts before you go to market. last_updated: 2026-09-29 publisher: Stratworth Advisory Ltd --- Guide 06 · Timing # How long does it take *to sell a business?* The honest answer is that it depends, and mostly on how prepared the business is before the process begins. This guide walks through the stages of a sale, what slows deals down, what keeps them moving, and why the clock that matters most starts long before you go to market. - By **Stratworth Advisory** - Published 29 September 2026 - 9 min read - 5 sources ## Key takeaways 1. There is no reliable average. Timing depends on the business, the buyer, the route and the market. 2. One founder’s account on the British Business Bank describes an exit of around 12 months: six months of planning, three of shareholder negotiations and three of notice. It is one example, not a benchmark. 3. A sale moves through preparation, choosing advisers, approaching buyers, offers and heads of terms, due diligence, legal documents and completion, then handover. 4. Weak records, owner dependency, customer concentration, legal loose ends, an unclear route and leaks all slow a sale down. 5. Preparation time and transaction time are different clocks. You control the first one, so start it now. ## The honest answer: it depends on preparation Search for how long it takes to sell a business and you will find confident averages. We do not quote them, because we have not found one that comes from an authoritative UK source, and because the range between businesses is wide. What sits behind that range is mostly predictable: the size and complexity of the business, the route (a sale to a management team or an employee ownership trust involves different steps from a trade sale), how many buyers are interested, how the buyer is funding the deal and, above all, how ready the business is when the process starts. What we can offer is one documented example. In the British Business Bank’s [Top tips: how I exited my business](https://www.british-business-bank.co.uk/business-guidance/guidance-articles/business-essentials/top-tips-how-i-exited-my-business), the founder Lucy Hackshaw describes her own exit as taking around 12 months in total: six months of planning, focused on the transition, the exit and what she wanted to do next; three months of shareholder negotiations; and a final three months working out her notice period. Exhibit 1One founder’s exit, as described to the British Business Bank **Around 12 months** in total 1. **6 months**Planning 2. **3 months**Shareholder negotiations 3. **3 months**Notice Source: [British Business Bank: Top tips, how I exited my business](https://www.british-business-bank.co.uk/business-guidance/guidance-articles/business-essentials/top-tips-how-i-exited-my-business) One example, not a benchmark. Her account describes negotiations with shareholders rather than a sale to an outside buyer. Treat it as one example rather than a benchmark. But its shape is instructive: half of the time went on planning, and the negotiation itself was the shorter part. ## The stages of a sale Whatever the route, a sale tends to move through the same broad stages. How long each one takes varies enormously from one deal to the next; the order is far more predictable. Exhibit 2The stages of a sale, and what to watch for at each 1. ### Stage 1: Preparation Getting the business, the numbers and yourself ready. The stage you control most. You control this Watch for Starting only when you have already decided to sell. 2. ### Stage 2: Choosing advisers Appointing the accountant, tax adviser, solicitor and any transaction advisers your route needs. Watch for Appointing in a hurry, too late to shape the plan. 3. ### Stage 3: Approaching buyers Identifying and approaching suitable buyers or investors, usually under confidentiality agreements, with information ready. Watch for Leaks, and information that is not ready. 4. ### Stage 4: Offers and heads of terms Weighing offers and agreeing the main terms in principle: price, structure, timing and your role afterwards. Watch for An unclear walk-away number or priorities. 5. ### Stage 5: Due diligence The buyer’s detailed examination of the finances, tax, legal matters, commercial position and operations. Watch for Missing records and late surprises. 6. ### Stage 6: Legal documents and completion Negotiating the sale agreement and related documents, then signing and completing. Watch for Diligence findings reopening the price. 7. ### Stage 7: Handover Introducing the new owner, supporting the team and working any agreed handover period. Watch for No plan for your own next chapter. The route you choose changes the detail. The first stage is the one you control, and it shortens every stage after it. Stages three to six are what most people mean by ‘the sale’. Stage one decides how smoothly they go. ### Heads of terms and exclusivity Once an offer is accepted in principle, the main points are usually recorded in heads of terms: the price and how it will be paid, the structure, the timetable and your role afterwards. Heads of terms are usually not legally binding on the main points, but a buyer will often ask for a period of exclusivity, during which you agree not to talk to other buyers. That gives the buyer the confidence to spend money on due diligence, and from then on the pace of the sale depends heavily on how ready you are. ### How long does due diligence take? There is no reliable standard, and we do not quote one. Due diligence takes as long as the buyer and their advisers need to become comfortable, and that depends on how much there is to examine and how quickly you can answer. ICAEW describes the strands a buyer’s advisers may cover: financial, tax, vendor, commercial and operational due diligence. Expect requests for: - management and statutory accounts for several years, with any adjustments explained - tax returns and correspondence with HMRC - customer, supplier and lease agreements - employment contracts, policies and any disputes - evidence that the company owns its intellectual property - company records and registers, and anything that could become a liability later. Every item already organised is a question answered in a day rather than a week. Some sellers go further and commission their own due diligence before going to market, known as vendor due diligence, so that problems are found and fixed on their own timetable. Our guide [Due diligence: what a buyer will check](https://www.stratworthadvisory.com/insights/due-diligence-checklist-for-sellers/) includes a seller’s checklist you can work through now. ## What slows a sale down Delays rarely come from nowhere. They come from things a buyer finds, or cannot find, once the process is under way: - **Weak records.** Late management accounts, unexplained adjustments or missing company records mean more questions and more time. GOV.UK sets out the [company and accounting records](https://www.gov.uk/running-a-limited-company/company-and-accounting-records) a limited company must keep; the [Financial Clarity & Drivers](https://www.stratworthadvisory.com/scale2sell/financial-clarity/) pillar covers the rest. - **Owner dependency.** If the business relies on you, the buyer will spend time testing whether it can run without you. See [How to make your business less dependent on you](https://www.stratworthadvisory.com/insights/reduce-owner-dependency/). - **Customer concentration.** Large accounts invite extra scrutiny of contracts and relationships. See our guide to [customer concentration risk](https://www.stratworthadvisory.com/insights/customer-concentration-risk/). - **Legal loose ends.** Unsigned contracts, unclear ownership of intellectual property or employment issues all have to be resolved before completion. The [Exit Readiness](https://www.stratworthadvisory.com/scale2sell/exit-readiness/) pillar covers the risk factors and red flags a buyer looks for. - **An unclear exit route.** Changing direction midway resets much of the work. See [Exit routes explained](https://www.stratworthadvisory.com/insights/exit-routes-explained/). - **Leaks.** News of a sale can unsettle staff, customers and competitors, and distract you from running the business. - **Slipping performance.** A dip in trading during the process gives a buyer reason to pause or to renegotiate. ## What keeps a sale moving - **Information ready before it is asked for.** A well-organised set of documents answers questions before they slow anything down. - **Advisers appointed early**, who know the business and each other. ICAEW describes the financial, tax, commercial and operational due diligence involved in [transaction services](https://www.icaew.com/technical/corporate-finance/transaction-services). - **Clear decisions.** Knowing your walk-away number and priorities lets you respond to offers quickly and calmly. - **A business that keeps performing.** Someone other than you needs to run the business day to day while you deal with the sale. - **Discretion.** A short list of people who know, and a plan for what to say if the news gets out. - **Employee matters handled properly.** Where TUPE applies there are duties to inform and consult. GOV.UK’s guide to [business transfers, takeovers and TUPE](https://www.gov.uk/transfers-takeovers) explains the basics; take advice on the timing. Delays are discovered during a sale, but created long before it. These are the reverse of what slows a sale down, and nearly all of them are settled before the process begins. ## Preparation time and transaction time are different clocks It helps to think in terms of two clocks. The transaction clock starts when you approach buyers and stops at completion. It is the one people ask about, and much of its length is set by the other side: the buyer’s diligence, their funding, their lawyers. The preparation clock starts whenever you decide to start it, and runs until completion. It is the one you control. Time spent on it before going to market tends to shorten the transaction clock, because there is less for a buyer to find and less to fix under pressure. Exhibit 3Two clocks - **Preparation clock**You decide when it starts. It runs to completion. - **Transaction clock**Starts when you approach buyers. Much of it is set by the other side. - **Handover**Supporting the new owner, as agreed in the deal. Illustrative and not to scale. The length of each clock varies from one business to another. The practical conclusion is simple. If you might sell in the next few years, the preparation clock should already be running. [How to prepare a business for sale](https://www.stratworthadvisory.com/insights/how-to-prepare-a-business-for-sale/) shows where to start. ### When should you start preparing? Earlier than feels necessary. The changes that make the biggest difference, such as reducing dependency on you, broadening the customer base and building the leadership team, take quarters and years rather than weeks, and a buyer will want to see changes that have lasted rather than ones made just before a sale. If you are unsure whether you will sell at all, start with the work that improves the business either way: better numbers, better systems and a stronger team. ## Life after completion: handover and transition Completion is not quite the end. A sale often includes a period in which the seller helps the new owner settle in: introducing customers and suppliers, supporting the team and passing on know-how. Its length, and your role in it, are negotiated as part of the deal, so decide early what you are willing to offer. Your people are affected too. When a business changes owner, its employees may be protected under TUPE, which usually means their jobs and terms transfer to the new employer. [Acas](https://www.acas.org.uk/tupe-transfers) explains when it applies. The sale documents may also include restrictions on you after completion, such as limits on competing with the business you have sold for a period. Read them carefully with your solicitor before you sign, so that your next chapter is not constrained by surprise. Exit Worth: what the exit leaves you with, including your time. Then there is you. The founder’s account on the British Business Bank describes working out a notice period after agreeing her exit, and suggests planning your own transition while you exit, keeping your mind open by learning something new. In SCALE2SELL® terms this is Exit Worth: what the exit leaves you with, including your time and your next chapter. ## A readiness timeline you can start now You cannot set the length of a sale, but you can decide when preparation starts and what it covers. A simple sequence: 1. **This month.** Write down your goals and your walk-away number, then [score your business with the free Readiness Assessment](https://www.stratworthadvisory.com/readiness-assessment/) to see where you stand. 2. **This quarter.** Bring the management accounts up to date, start a document index, and map where the business depends on you and on your largest customers. 3. **This year.** Work on the pillars that hold value back most, brief your advisers, and take tax advice on the routes you are considering. 4. **Before going to market.** Test the business without you, finish the legal housekeeping and agree a confidentiality plan. None of these steps commits you to selling. Each one makes the business stronger now, and each one shortens the sale if you decide to go ahead. To turn that into a plan for your business, [book a complimentary Founder Conversation with Nik](https://www.stratworthadvisory.com/contact/). Our [exit planning](https://www.stratworthadvisory.com/exit-planning/) work and the [Exit Readiness](https://www.stratworthadvisory.com/scale2sell/exit-readiness/) pillar cover it in depth, and [What makes a business worth more?](https://www.stratworthadvisory.com/insights/what-makes-a-business-worth-more/) explains the drivers that matter most. ## Sources 1. [British Business Bank: Top tips, how I exited my business](https://www.british-business-bank.co.uk/business-guidance/guidance-articles/business-essentials/top-tips-how-i-exited-my-business)british-business-bank.co.uk 2. [GOV.UK: Company and accounting records](https://www.gov.uk/running-a-limited-company/company-and-accounting-records)gov.uk 3. [ICAEW: Transaction services (due diligence)](https://www.icaew.com/technical/corporate-finance/transaction-services)icaew.com 4. [GOV.UK: Business transfers, takeovers and TUPE](https://www.gov.uk/transfers-takeovers)gov.uk 5. [Acas: TUPE transfers](https://www.acas.org.uk/tupe-transfers)acas.org.uk All sources checked in September 2026. We cite only authoritative UK sources, and leave out any figure we cannot source. **About this guide.** Written by Stratworth Advisory. Published 29 September 2026; last updated 29 September 2026. It is general information for UK business owners, not advice on your circumstances. Stratworth Advisory provides strategic business guidance only and does not offer regulated financial, legal or investment advice. Clients should seek independent professional advice where appropriate. Next step ## See what would *slow your sale down.* The free SCALE2SELL® Readiness Assessment shows which pillars would hold a buyer up. Then talk it through with Nik on a complimentary Founder Conversation. [Take the free Readiness Assessment](https://www.stratworthadvisory.com/readiness-assessment/) [Book a complimentary Founder Conversation with Nik](https://www.stratworthadvisory.com/contact/) Complimentary and confidential. Keep reading ## More guides *for founders* [All guides](https://www.stratworthadvisory.com/insights/) Guide 01 · 12 min read ### [How to prepare a business for sale: a guide for founders](https://www.stratworthadvisory.com/insights/how-to-prepare-a-business-for-sale/) Guide 05 · 9 min read ### [Exit routes explained: the main ways to sell, pass on or step back](https://www.stratworthadvisory.com/insights/exit-routes-explained/) Guide 02 · 10 min read ### [What makes a business worth more? The value drivers buyers look for](https://www.stratworthadvisory.com/insights/what-makes-a-business-worth-more/) ### Related SCALE2SELL® pillars 1. [03 Financial Clarity & Drivers](https://www.stratworthadvisory.com/scale2sell/financial-clarity/) 2. [08 Exit Readiness](https://www.stratworthadvisory.com/scale2sell/exit-readiness/) Related service[Exit planning](https://www.stratworthadvisory.com/exit-planning/) --- Stratworth Advisory Ltd. Registered in England and Wales, company number 16078743. Registered office: Avon View Offices, 90 High Street, Bidford-on-Avon, Alcester, England, B50 4AF. ICO registration number ZB932222. Stratworth Advisory provides strategic business guidance only and does not offer regulated financial, legal or investment advice. Clients should seek independent professional advice where appropriate. Contact: nik@stratworthadvisory.com. Book a complimentary Founder Conversation: https://www.stratworthadvisory.com/contact/