It is like trying to sell you home, and there are no showings, most likely it is due to the price. Many times, it is due the fact the seller can not come to grips with the reality of the market or the real estate agent doesn’t have the guts to tell the seller the straight facts.
It is one thing if there are inquiries and showings and there are no offers, it is quite another if you don’t even get a call. Unlike with residential real estate, with businesses there is no database to show the history of the asking price or how long it has been on the market. It is okay to go to market on the higher end to if time is not the essence. The issue is you could lose good, qualified buyers if you don’t set the price correctly, the buyer which passes on the opportunity, may not ever come back.
The issue is everyone has an option on pricing a business. What is important is the advice you take is from a sensed business broker and is based on what similar businesses have sold for, in the same owner benefit range, in the same general area, with similar trends as the target business.
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