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How A Real Entrepreneur Survived A Crisis
Recently, I read an interesting story in a local newspaper. It's about how a Thai businessman survived a recession. An idea struck me that I should share the story with you. There is definitely something we can learn from this true story. Here...
How to finance your dream car?
Have you thought about getting a better car? Ever thought of driving your own sports car? Want to purchase the latest car model? Why wait when you can do so now! Most people do not realise that they have capital locked up in their property which...
How To Organize Your Paperwork
Many people have a huge challenge coping with the incoming paperwork. (Whatever happened to the paperless office?).
Paperwork lands on your desk and somehow finds its way into your in-tray. Eventually the in-tray becomes so high it explodes...
Ten ways to Sharpen your Business Edge
When running a small business it is very important to lay out a plan of where your business is, what would you like to bring to the world through your business, where you want to take it and plan the best way to get there. This can be a formal...
The Secrets of Million Dollar Home Based Business Opportunities…
That’s right…there really are million dollar home based business opportunities out there. Where? Well to be honest they’re everywhere! Just like beauty being in the eye of the beholder so is opportunity. Opportunity really does greet us at every...
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Fundamentals of Selling A Business - Marketing and Prospecting the Buyer
Fundamentals of Selling A Business - Marketing and Prospecting the Buyer
To successfully sell your business, it is essential that you know how to communicate its appeal, and understand the factors that potential buyers have to consider.
Marketing Materials
There are hundreds of businesses for sale at any given time. To make your business stand out, you need to provide potential buyers with information that help them to make informed decisions. A descriptive and well-organized selling memorandum will help in the sale process.
The memorandum would provide your contact information, a brief description of the business, business location, hours of operation, business asking price, annual revenues, net earnings, number of employees, ownership description, number of years established, leased or owned property, and the reason for selling. You should also include a few paragraphs to describe the benefits of owning the business.
Potential buyers should sign a confidentiality agreement before you furnish them with the selling memorandum. This memorandum should be true, accurate, and complete. Marketing paraphernalia typically included are photographs of the business, company history, overview of operations, financial summary, company strengths and potential opportunities, as well as a list of assets.
Prospecting the Buyer
Potential buyers
should be screened to ensure that their interests are compatible with yours and that they have the financial ability to purchase your business. Early in the selling process, you should determine the buyers' sources of funds. Determining and dispelling any misconceptions on financing prior to negotiating the deal saves both parties time and money. You may want to suggest that the buyer consult with their accountant or financial advisor.
© 2002-03. GlobalBX. http://www.globalbx.com. All rights reserved. Buy a Business or Sell a Business on GlobalBX. GlobalBX is a free business for sale listing exchange that provides a confidential forum to facilitate the buying and selling of businesses with thousands of businesses and franchises for sale as well as comprehensive business information for business buyers and business sellers. Lists businesses for sale, business brokers, and franchise opportunities.
About the Author
Jim Brown is Director of Marketing at GlobalBX, http://www.globalbx.com. Buy a Business or Sell a Business on GlobalBX, a free business for sale listing exchange that provides a confidential forum to facilitate the buying and selling of businesses with thousands of businesses and franchises for sale as well as comprehensive business information for business buyers and business sellers. Lists businesses for sale, business brokers, and franchise opportunities.
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