What should I consider if marketing my business for sale?
Whether you’re selling your business pre-retirement or you want to move onto a new venture, preparation and planning are key elements in meeting or exceeding your overall objectives.
It’s highly advisable to start planning for the sale of your business years in advance. This allows you to take the right steps to present it in its best light when the time comes, so what do you need to consider when marketing your business?
One key element when marketing the business is confidentiality, so the process and outcome aren’t overshadowed by an unplanned release of sensitive information. This can be addressed by drawing up a comprehensive non-disclosure agreement, or NDA.
Non-disclosure agreements help to prevent important business data and financial information from inadvertently being released to competitors and are a vital part of the marketing stage in a business sale.
An NDA is a legal document that lays out the terms and conditions of the provision of information relating to the sale to third parties. They’re typically sent to interested parties at the early stages of marketing, prior to releasing a sales memorandum containing financial and other information.
- Previous sales and acquisitions experience
- Sector specialisms and average success rate
- Sales value expectations and growth potential
Obtaining professional advice is crucial to successfully selling your business. Our team at Selling My Business are highly experienced business sales brokers and can provide the professional input you need at the marketing stage and throughout the selling process.
We have built up a database of more than 10,000 potential purchasers who are actively looking to buy. Our team can also help you prepare an information memorandum that provides the background needed by interested parties, at the same time ensuring that marketing is always discreet.
Identifying prospective purchasers
Narrowing down the most likely demographic of potential purchasers is an integral part of marketing for a business sale. We use our comprehensive database of prospective buyers who are actively seeking a new business and target those most relevant/likely to be interested.
It’s important to take a multi-faceted approach when marketing a business, however, and we will also advertise the sale anonymously on business sales websites that we know and trust.
This type of promotion casts an even wider net and maximises the interest in your business. You also have the added reassurance that confidentiality is protected throughout the marketing stage.
How Selling My Business can help
Pre-qualifying interested parties makes the most of your marketing campaign and eases the negotiation stage. By asking pertinent questions about their situation and goals, we can better establish whether they’re serious buyers and if they have the necessary finances in place.
For more information and professional guidance on the best ways to market your business, please get in touch with Selling My Business. We can offer you a free valuation and will tailor our advice to your business.
Our combined 60+ years of experience means you receive the reliable independent guidance you need to maximise the value of your business and achieve your goals from the sale.