How to market and sell your business for your best return in Sydney
This is quite tricky; you need to work out who would buy your business and what they are looking for. You need to know the good and bad points of the business. That takes time, there are no real shortcuts that I know of. Just spend time getting to know the business, what it does and why people would buy it. Ask the questions and gather the information. The secret to marketing a business is to get the buyer interested.
Wanting to know more and reach out to you to want too know more. That way they are the ones wanting something from you. If you have heard the expression less is more, it can’t be more true here. Tell them too much and they think they know everything, where the opposite could be true. They assume and get it wrong.
Generally, it goes like this;
For this example, is it a one-market sale, off-market sales are a little different. We advertise in such a way the buyer does not know the name of the business or the location. We give a general location such as near Sydney CBD. The buyer sees the business advertised and wants to know more. They get redirected to our website which is the golden source. If they like what they see they are required to log in and give information and sign a Confidentiality Agreement (CA).
Then we get their contact details, this is where we contact them and qualify them as genuine buyers. In the meantime, the buyer goes into our database, which we use for marketing. Only after the buyer is qualified would they get the Information Memorandum (IM). If they like what they see I set up the first meeting, this is where buyers and sellers ask questions. From here I will post a blog “The First Meeting”.
The strength of Connections
Generally, who you know is important as is your market reach. At Network Infinity we have both bases covered. We put your business in front of more buyers. We do that by having each broker with their connections sell your business, but you only ever deal with the listing broker. I have thousands of connections with business owners and investors. I have a database of business buyers, ready for the businesses I list. Why not get a team to sell your business?
Talk to me about how you can sell your business today.
Here are Some of the Future Posts Yet to be Written
How to Market Your Business
Putting Your Business Up for Sale
The first Meeting
The exit plan
What’s a Broker
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