Locating a Buyer
A buyer can come from your employees, customers, suppliers or competitors.
People buy businesses for different reasons. Buyers will normaly be divided into two groups: strategic and financial buyers. Strategic buyers will look at how well your business fits into their own company's long range plans. This could be one of your competitors or a business that wants to enter a new market or offer a new product. If you have what they want, strategic buyers will generally pay you more than other types of buyers. Financial buyers are more interested in your company's profitability and stability. They could be companies or individuals with money to invest. Some will want a solid, well-managed company that requires little oversight while others may specialise in turnaround situations and will look to buy a business that they can make a profit.
If your business is well known then word that it's for sale may be enough. But more than likely you will need to cast a wider net. You could put out feelers to people you know or use such outlets as trade publications or newspaper advertising. However a business has access to potential purchasers and can approach potential buyers confidentially. This avoids the risk of loosing valuable clients, vendors or employees because of negative connotations that might come from putting your business on the market for sale.
If you are not our clients call the experts at Ross Holmes Lawyers for afree 30 minute appointment