Many businesses had dramatic drops in sales during the meltdown, but have since recovered. Some may need another year to better position themselves for being sold. Either way, there is pent-up buyer demand waiting for these businesses to come on the market, because there has been a very limited supply of quality businesses since the meltdown began.
There is a particularly high demand for quality businesses with cash flow of over $600K. When these engagements go to market, there is an immediate swarm of interest, particularly if it is a niche business or has something that makes it unique. You would be amazed at the number of buyers with a high net worth who are looking for businesses of this type.
What is important when going to market is:
- The business is properly priced.
- The marketing accentuates the positives.
- All inquiries are responded to immediately.
- All relative information has been professionally packaged and assembled in a virtual data room to enable fast access once the potential buyer has been qualified and a Non-Disclosure Agreement has been signed.
- You have a business broker or intermediary who is not emotionally tied to the business and thus can maintain objectivity in the sales process.
- Your business broker or intermediary possesses negotiating skills and understands the emotional issues of the sale’s parties.
If you would like a confidential, no-obligation analysis and discussion of what you can be doing now to prepare for when you are ready to put your business on the market, please call (888-893-6661) or e-mail ([email protected]). I serve customers nationwide. To learn more about my background and see customer recommendations, visit my LinkedIn profile at http://www.linkedin.com/in/dolansales.