That is the general process, but I'll bet there are dozens of different ways of doing it. I feel sure that some growers actually "line out" their plants in pots. That way come spring time they are potted up and ready to sell. I did find out this year that often (it may be the accepted practice, not sure), that if a plant is lined out and produces new fans those fans are often included with the purchase of "two fans". I thought that was nice. So if a grower lines out 10 double fans and each of those fans multiples at a different rate, a buyer might get two, three, or more fans. The good thing about that is that if you order really early and the order is confirmed when it is only two fans, when your order is filled you get what has increased from those two fans also. I doubt all sellers do it that way, but it is nice when it happens.
I think the normal practice is to sell blooming sized plants, so if the plants are lined out by the time they are sold they should be blooming sized, and that I would think could be one to two seasons depending on if the plants are growing indoors, outside, in a warm or cold climate, if they fertilize etc.