Selling a business might appear very simple, but in reality, it is a difficult process, especially in these Covid times we live in. Sometimes, it takes a very long time to sell a business. Selling a business is unlike selling a property, where you are able put a sign out the front, have beautiful photos and videos on the websites etc. The sale of most businesses require complete secrecy. Advertising and marketing is extremely difficult without divulging anything about the business. Engaging a competent business broker is absolutely essential. How serious is the business broker, you are going to engage, about selling your business? Is he serious about selling or does he just want to list your business in order to increase his listings? Is the business broker going to list your business and just wait and hope that the business sells? When attempting to sell a business, the first thing required is to attract the potential buyer. Nowadays most inquiries come from the internet. The ads must cast as wide a net as possible. It’s not enough to just advertise on one or two websites, you must advertise on every possible website. If you don’t achieve the desired results, you must regularly tweak or even change the ad, you must also consider price reductions. You must have email campaigns, notify everyone on your database, make sure that as many potential buyers as possible are aware that the business is for sale. Where appropriate, it might be necessary to advertise in the print media. Again, where appropriate, you might have to advertise on social media. If the business broker is really serious about selling your business, he must be proactive, do all of the above and more.
I’m serious about selling your business
