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Fundamentals_of_Selling_A_Business_ _Marketing_and_Prospecting_the_Buyer
| Fundamentals of Selling A Business - Marketing and Prospecting the Buyer
Fundamentals of Selling A Business - Marketing and Prospecting
the Buyer
To successfully sell your business, it is essential that you
know how to communicate its appeal, and understand the factors
that potential buyers have to consider.
Marketing Materials
There are hundreds of businesses for sale at any given time. To
make your business stand out, you need to provide potential
buyers with information that help them to make informed
decisions. A descriptive and well-organized selling memorandum
will help in the sale process.
The memorandum would provide your contact information, a brief
description of the business, business location, hours of
operation, business asking price, annual revenues, net earnings,
number of employees, ownership description, number of years
established, leased or owned property, and the reason for
selling. You should also include a few paragraphs to describe
the benefits of owning the business.
Potential buyers should sign a confidentiality agreement before
you furnish them with the selling memorandum. This memorandum
should be true, accurate, and complete. Marketing paraphernalia
typically included are photographs of the business, company
history, overview of operations, financial summary, company
strengths and potential opportunities, as well as a list of
assets.
Prospecting the Buyer
Potential buyers should be screened to ensure that their
interests are compatible with yours and that they have the
financial ability to purchase your business. Early in the
selling process, you should determine the buyers' sources of
funds. Determining and dispelling any misconceptions on
financing prior to negotiating the deal saves both parties time
and money. You may want to suggest that the buyer consult with
their accountant or financial advisor.
© 2002-03. GlobalBX. http://www.globalbx.com. All rights
reserved. Buy a Business or Sell a Business on GlobalBX.
GlobalBX is a free business for sale listing exchange that
provides a confidential forum to facilitate the buying and
selling of businesses with thousands of businesses and
franchises for sale as well as comprehensive business
information for business buyers and business sellers. Lists
businesses for sale, business brokers, and franchise
opportunities.
About the author:
Jim Brown is Director of Marketing at GlobalBX,
http://www.globalbx.com. Buy a Business or Sell a Business on
GlobalBX, a free business for sale listing exchange that
provides a confidential forum to facilitate the buying and
selling of businesses with thousands of businesses and
franchises for sale as well as comprehensive business
information for business buyers and business sellers. Lists
businesses for sale, business brokers, and franchise
opportunities.
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