How Do You Keep the Sale of My Business Confidential?

This is one of the most common questions I get asked by potential sellers. Most sellers are very concerned about confidentiality. In most cases, the seller does not want their employees and vendors knowing their company is for sale because it can be very destructive to the business. If employees find out, they may panic and think the new owner will get rid of them. As a result, they may try to find another job immediately. If vendors find out, they may be concerned that the business is in financial trouble and they won’t get paid money that may be owed to them.

How Do You Keep the Sale of My Phoenix Business Confidential?

How Do You Keep the Sale of My Business Confidential?
Here are some of the things I do to keep the sale of a business confidential.
Phoenix, Arizona

I do the following things to keep the sale of the business confidential:

1. I advertise to the general public on a “blind” basis, meaning, I never divulge the name or address of the business in my advertisements.

2. I have all potential buyers sign a Confidentiality/Non-Disclosure Agreement (aka CA or NDA) before I release any information to them. This agreement is a promise, signed by potential buyers, that they won’t discuss the business with anyone or divulge confidential information to anyone. It does not mean they have to buy the business. It is just to protect the seller.

3. I pre-qualify all buyers, by having them fill out a Buyer Questionnaire Form, to make sure they have the background and financial capability to buy the business. If they don’t qualify, I will not divulge detailed information to them. The less people who know about the sale the better.

After a potential buyer jumps through all of these hoops, then I will release detailed information on the business. Real buyers have no problem filling out my forms.

If you would like to explore the possibility of selling your Arizona business, contact me, your Phoenix business broker at 480-707-7721 or philreeseaz@gmail.com.

Phil Reese, Your Arizona Business Broker!Written By:
Phil Reese – Arizona Business Broker

7077 E. Marilyn Road, Bldg. 4 Suite 130
Scottsdale, AZ 85254

Phone: 480-707-7721
Email: philreeseaz@gmail.com
Website: https://www.philsellsbiz.com

More from my site

  • Avoiding The Potential Pitfalls Of Selling Your Arizona BusinessAvoiding The Potential Pitfalls Of Selling Your Arizona Business body h3 { text-align: left !important; padding-bottom:5px!important} h4{padding-bottom:5px!important} h4,{padding-bottom:10px!important} h1 {padding-bottom:5px!important} @media screen […]
  • The Legal Considerations of Buy-Sell AgreementsThe Legal Considerations of Buy-Sell Agreements The Legal Considerations of Buy-Sell Agreements A buy-sell agreement, also known as a buyout agreement, is a legal contract between multiple owners of a business. Buy-sell agreement can […]
  • The Process of Selling a BusinessThe Process of Selling a Business The Process of Selling a Business So, you’re thinking of selling your business and riding off in to the sunset, but how do you do that? Here are the 8 basic steps in the selling […]
  • How Do I Find a Buyer For My Business?How Do I Find a Buyer For My Business? That’s easy. Hire an experienced Business Broker to market your business and don’t try to do it yourself. Here are some of the things I do to market my listings and attract potential buyers!
  • Selling a Phoenix Area Business is ToughSelling a Phoenix Area Business is Tough What Goes Into Selling A Business In Phoenix Selling a Phoenix business is much harder than it looks. It would be great, if you could just wake up one day and decide, “Today I am going […]
  • How Much Is All My Hard Work Worth?How Much Is All My Hard Work Worth? Determining value for a business does not often take into account such things as the personal investment and time of the business owners in building the business. Working with a business […]