How do I Find and Choose a Good Buyer for My Business?
Selling a business is not like selling a house. You can’t just decide to sell, list it on a website, and wait for the offers to roll in. You need to take extra steps to make sure that your business gets in front of the right buyers – buyers who properly understand the business and its potential, and who have the financial resources to purchase it. It’s not easy finding the right buyer for a business.
Working with an experienced Phoenix business broker is crucial in helping you find the right buyer.
Below are some things you need to know about the process so you can find and choose a good buyer for your business:
List with a Business Broker
An experienced business broker in Phoenix can guide you through every step of the selling process, giving you advice to help you get the best results at every step of the way. A business broker can also list your business in the right places to get it in front of the best potential buyers. That way, you can have a better chance of selling your business.
Complete a Business Valuation
The first step in the selling process is to have a business broker conduct a valuation of your business to see how much it is worth.
A good buyer is one who knows how to spot a good business, selling at a good price. These buyers are going to do their research into your business to find out what potential it has to offer. But, they also won’t overpay so assigning an accurate and realistic price to your business is crucial.
The business valuation will provide an overview of your business assets, sales, and profit to provide an overall picture of the current health of the business. Pricing your business properly will also help with getting it sold faster.
Create Marketing Materials
Once you know what your business is worth and are ready to prove that to potential buyers, you need to create some marketing materials. Then you need to start promoting it online and among relevant business networks.
A good business broker in Scottsdale will put together a detailed Confidential Business Review (CBR) which will include a summary of your business and financial information so a buyer will have the information they need to make a decision if your business is right for them.
Qualify Potential Buyers
Even though someone may want to buy your business, not everyone is going to be able to afford it or have the means to continue running your business successfully. Instead of wasting your time with unqualified people and missing out on potential buyers who could complete the sale, you need a business broker that can determine who the right buyers are before you begin the process.
Your Scottsdale business broker should have a system in place to qualify potential buyers. That way, you’ll know quickly whether you are dealing with a good qualified buyer or an unqualified one.
Selling your business is a big undertaking. To make sure you have a good experience, be sure to work with an experienced business broker in Phoenix who can guide you through the process. Your broker can help you get your business in front of the right people, qualify the right buyer, and help you sell the business quickly and for the price you want.
If you are ready to sell your business in Arizona, call business broker Phil Reese. Phil is a Certified Business Intermediary (CBI) and has been helping people buy and sell businesses since 2001. Phil can help you to find the right buyer so that you can have a successful sale. He’ll help you get what you deserve for the business you have built. He’ll be there to answer any questions you may have so that you feel confident and informed through every stage of the process. Call his office in Scottsdale or Phoenix today to learn more about his services or to start talking about your goals for selling your business.
Written By: Phil Reese
Phil Reese – Arizona Business Broker
7077 E. Marilyn Road, Bldg. 4 Suite 200