Sales Process Step 3: Finding Buyers For Your Business For Sale
There are many channels which we can utilize to generate qualified buyers for your business. Our marketing consultants have developed a comprehensive marketing network of accountants, attorneys, bankers and other leads aimed toward locating interested and qualified buyers. We also maintain our own database of qualified, interested and knowledgeable buyers. In addition, we may anonymously advertise the business listing in strategically targeted local, regional and industry publications as well as web sites that specialize in listing businesses for sale. In fact, we have pre-existing contracts in place that enable us to "feature" certain business listings and gain substantial exposure for our clients. Finally, we often reach interested and qualified buyers through direct mail campaigns aimed at specific demographics.
However, before we commence a blind search, it often makes sense to consider "Strategic Buyers." Strategic Buyers typically fall into three (3) categories as follows:
- A competitor – a business that is the same as or similar to your own
- A complimentary business – a business that is not a direct competitor but that can benefit from moving into a related business, that is, there is a logical synergy (for example, a restaurant business owner might consider a catering business)
- Commercial customers and Suppliers
To identify possible Strategic Buyers, begin by considering the following:
- If you were expanding your business rather than selling it, which businesses would you consider purchasing?
- Do you have a major supplier or customer who would benefit through ownership of your business?
- Which businesses would be a good fit with your business?
If any potential Strategic Buyers come to mind, please advise us as soon as possible.
