Putting your business on the market is only the first step towards finding a buyer. Using the right advertising techniques can help you attract more leads and ultimately lead to a higher selling price.
But, if you reveal that you are selling your business too early, it can cause problems with your employees and suppliers and give your competitors an edge. To be successful in selling your business while retaining confidentiality will require a carefully balanced advertising plan.
Check out these tips for crafting a business listing that brings qualified prospects to your door.
1. Share the Right Amount
In order to attract the right buyer, you have to portray the strengths of your business without stretching any facts. Make sure that you publish accurate information that can help buyers make a purchase.
Your ad should be short, but it should also include enough information to prompt a response from potential buyers. Use the space to build up their interest and prompt them to ask for more information.
2. Include the Necessary information
Your ad should contain information about the size of your business as well as how much you are looking to get for the company. That way, potential buyers can rule themselves out as they look over your listing.
You should ensure the description of your business is concise, yet thorough. Be specific about what your business does and how it does it.
You should also include information like:
- Where your business is located
- The strengths of your business
- Your asking price
- Why you’re selling
3. Use Blind Ads to Avoid Identifying Your Business
In order to protect your business, you need to make sure that you don’t reveal the name or address of your company too early on in the process. Generally, it’s best to camouflage a business’ identity by using descriptive attributes but no direct link.
These “blind listings” help you avoid giving your competitors too much information. But, be careful. If your ad is too blind, potential buyers may not be able to see a vision for your company.
4. Provide Potential Buyers With a List of Qualifications
In your advertisement, you should state the annual revenue for your business. This metric is a great way for buyers to determine whether the size of your business matches their interests.
You should also publish an asking price so that buyers can self-qualify and decide whether they have the capital necessary to purchase your business.
While it may feel odd to speak about your business in such restrictive ways, by helping your potential buyers self-identify, you save yourself the time and energy of negotiating a deal with someone who isn’t qualified.
For More Help With Your Listing
Attracting quality prospects to your business listing is all about sharing the right amount of information in the right places. While this article can help you decide whether or not to include a piece of information, it doesn’t replace the advice of a business broker.
When you’re ready to bring offers in the door and get the ball rolling, reach out to me for personalized help with your listing. I can walk you through the entire process and share your listing with interested and qualified buyers.
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