Typical time frame

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November 26, 2022

by a searcher from University of South Carolina - Darla Moore School of Business in Charleston, SC, USA

Just curious how long most people on here have been searching. What is the typical timeframe for finding something good and closing the deal? I'm hoping to make it 3 months or less. Is that feasible?

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Reply by a searcher
from University of Pennsylvania in Oakville, ON, Canada
That depends; if you are clear on what kind of business you are looking for. That clarity along with a good strategy can reduce your timeframe to under 12 months in a good scenario depending the industry dynamics and available businesses for sale in the area you are looking for. Otherwise the answer to this question is subjective and layered. Many self-funded searchers give up search after a while, when they do not find a compelling opportunity to their expectations or decide to build it from ground up after going through the discovery process. That said, it's worth the while to go through the process as it will certainly help you in running and creating value in the business whether bought or built.
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Reply by a searcher
in Alpharetta, GA, USA
Graham based on personal experience you should plan for 6-12 months if you aren’t already under LOI. Both my deals took 6 month to close post LOI. While there are a lot of businesses for sale at any moment, there aren’t many good businesses for sale.

You don’t get to dictate the timing and if you rush it you increase the likelihood of a bad outcome. I always use the analogy of marriage and it’s an apt one. You only want to do it once and if you hurry the search, diligence and closing you will regret it. Be patient!!
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