When advertising a business for sale your email inbox can be inundated with frivolous enquires, generic replies or spam.
It's therefore important when you sell a business to target buyers who you think would be prepared to pay a good price for your business. Make sure you identify all likely candidates for your sale including private buyers and investment groups. It's vital to ensure any potential purchaser is serious and that they're able to afford to buy your business.
Buyers should understand the nature of your business and it salient characteristics. For example, what condition are the premises in and how much repeat custom does it enjoy?
What is the typical profile of your customers? A competitor might want access to your customers so they can cross-sell their products.
Also, you may have a product that fills a gap in another company's product range or buyers may be able to use your distribution channels to sell their own products.
Buyers may also benefit from economies of scale in areas such as purchasing, production and sales. If you can show great potential for growth, then an overseas company might see you as the perfect vehicle for establishing a foothold in the UK market.
It's important that as a seller, you don't focus all your efforts on a single prospect, because if the buyer knows they are the sole interested party they have a good chance of driving the price down.
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