Buyers are going to have questions and it’s best to have the answers ready to go. Ideally most of your buyer’s questions can be answered in one document leaving them with a clear picture of your business. A service like ours ensures all the boxes are ticked in advance leading to a smoother and faster process.
It’s never been easier to find buyers for businesses than it is today, but You Cant Sell A Secret! Making sure your business opportunity can be found on the major business for sale websites is a must. A database of active buyers is also a major benefit. Remember, the name of your business doesn’t need to be on your ads, but wide exposure is critical.
Not every “buyer” is a buyer so qualifying your enquiries is important. The brokerage you choose to sell your business should be experts in qualifying and filtering, giving the right amount of information when requested, but knowing when to draw a line in the sand and progress the buyers to an offer.
If water sits for too long, it stagnates. So does your buyer’s interest. Keep the deal moving forward through a tried and tested process throughout your sale. A light amount of pressure is important for your buyers to make decisions in a reasonable timeframe. The broker you choose should have these systems in place, and experience to match.
Once you know you have a serious buyer, act on their reasonable requests. Once a price is agreed, your buyer needs to be pre-framed to the steps ahead and have their hand held throughout the sale process just like you. This significantly increases your likelihood of a successful sale.
The contract process can be complex at times. Ideally you will have a solicitor that has experience in business transactions to assist in a smooth transaction. Your brokerage should be able to recommend one to you whilst managing the third parties throughout this process until your contract completes.
Congratulations! You are FREE to move onto your next chapter!