Marketing the Business Sale

Define, categorize and prioritize potential Buyers for the business. Develop a strategy and associated tactics to contact and respond to each category of prospective Buyer.

The best prospect to purchase your company is a synergistic business; that is, a business that would benefit by acquiring/ merging your business into theirs to obtain increased market share or improved distribution while significantly reducing combined overhead. Synergistic Buyers often pay a premium based upon the economies of scale they believe can be derived from a consolidated operation. Therefore make an effort to identify such Buyers and put them at the top of your list!

Plan and execute advertising tactics to obtain other prospective Buyers:

1. Consider strategies to approach synergistic prospects. This could include competitors, suppliers, and customers, or related businesses. Exercise extreme caution when dealing with competitors. They may be more interested in getting a competitive advantage by obtaining insider information than in actually buying your business.
   
2. Network with accountants, attorneys, and bankers
   
3. Advertising through targeted channels: trade journals, trade associations and direct contact
   
4. Advertising media for a broader appeal: newspapers & magazines

   Prepare for the level of confidentiality of the sale of your business that will be necessary given your distinct needs.

   Any written solicitation or advertising directed to Buyers must designate a method of contact without identifying the business being sold. Plan how to handle these initial contacts from prospective Buyers. Some options to consider:

   1. Obtain a separate P.O. Box or mail forwarding service
   2. Obtain a separate telephone number with voice mail
   3. Use a private or home fax number

Consider a third party to take initial inquires and give enough information to get a signed Confidentiality Agreement.

(Marketing the Business Sale)
Page 1 of 2 |  Next>>