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How Safe is Your Success? Part 6 of 8
"How Safe is Your Success" is a series of eight articles that address different aspects of a universal problem which is of particular importance to those who do business on-line. Most Internet users are at least aware there are dangers "out there",...
“Improve Your Email’s Deliverability“
With SPAM accounting for over 50% of the email that is delivered to our inboxes many corporations and ISPs have implemented solutions to deal with this growing problem. SPAM filters, IP blocking, domain blocking, and legislation are in place,...
Investors - Look For The Real Estate Sweet Spots
A politician once proclaimed, "All politics is local!" The same is true for real estate. If you live in Southern California home values are climbing towards the sky. The real estate market is hot! At the very same time there are many areas in...
Looking for Success as an Online Affiliate? It's All in the Numbers
If you have been a home based business entrepreneur for any length of time at all you know by now that there are certain immutable laws that govern success. You know the following: You have to learn the techniques of marketing your product or...
The Importance of Followers
In his July 1997 Toastmaster magazine article called "How to Be a Great Follower", Richard G. Ensman, Jr. stated several qualities he believed are important for this role. He wrote: "Whatever your career or position in life, you'll often find...
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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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