07 Oct Selling Your Business: Our Options and Strategy Checklist
We prepare a marketing strategy which can be essential to managing confidentiality and also make a huge difference to achieving the highest price and a quicker sale. (see our options and strategy checklist)
Every business is different and whilst some are okay to be known to be for sale others must be sold with full confidentiality meaning the owner doesn’t want the market to know that they are for sale.
Selling a café within a CBD can easily be masked within any marketing scripts or ads but what if you had the only food distribution business in town or the only car wash in an area etc?
Our experience is very important in these situations because you need the advert to say enough to create interest and to attract the right buyers which can be very difficult. The bottom line is you need enquiries, buyers and therefore competition to increase your chances of getting the best price and the business sold in the shortest time.
When marketing the business, the key is to be able to highlight;
- Features and benefits of the business also the
- Strengths and opportunities
- The return on investment, the profit and/or owners remuneration
The way in which the business should or can be marketed may include some of the following;
- The agents database
- The business specific websites
- Direct email marketing to selected and approved targets
- Local or specific newspapers
- Sharing or promoting the listing in confidence to accountants, immigration brokers and other business brokers from other states or in areas of speciality
At Merchant Business Brokers we stage the strategy to suit the business, the confidentiality and the owners urgency to sell. On some occasions we may show the business to just two people from our database as a “quick look before it goes to market” sometimes selling businesses before any marketing is done. The last thing we do is to advertise in all areas using all resources in the first month. We need to be able to manage enquiry carefully and with respect and have back up marketing which also helps control confidentiality.