This article are provided for information purposes only, and are not intended as legal advice.


How to use www.thebusinessplace.com to sell a business

April 20th, 2010

In order to sell your business you need to make as appealing as possible to possible investors.  Many investors are always looking for the most recent listings available and often do not look at older listings.  They do not know how old the listings are or why are they still on the market.  Houses can sell very quickly.  Businesses do not sell as quickly. First time investors have the impression that businesses can sell as fast as a house.  That is incorrect.

 

Since every business is unique, you need to get an investor wanting to learn more about your business.  Too many people list a business for sale and have no description.  Since people are more familiar with houses, let me make a comparison.  If someone tells you that a house is available for a certain price will you go look at it?  Definitely not, you will ask, where is it, ask details of the house, how many bedrooms, how many bathrooms etc.  The same idea is needed for a business for sale.  Someone needs to know what  does the business do, who are the customers that you are going after, what makes your business unique, what is the asking price, what is the profits, what is the potential, what are the strengths of the business, what are the possibilities for the business.  If you provide people with information, they can make a quick judgement if this type of business is appealing to them.

 

Remember, many people do not know what they business that they want to buy, they know what they do not want to buy.  As a result, you have to provide them enough information so that they can decide if your business is something that they may want to own.  Many people list a business for sale and put in very little information and hope that someone will call them.  If there is little description, how can someone justify the price that they are asking for?  Investors can make up their mind very quickly what they like and want more information and what they do not like.  Investors do not like to tell everyone who they are.  They do not want to be pestered by people trying to sell their business to them even though they are not interested.  The website gives them the opportunity to review business for sale listings without having to disclose who they are before they contact you.

 

Each week, all new business for sale listing are emailed to thousands of investors. All listings which have been updated also are emailed to the investors.  If a new investor signed up this week and and an old listing is updated, they will be emailed the revised listing.  Therefore it is important that you keep your listings fresh, up to date. If you do not get many people inquiring about your business for sale, that means that your listing is not working, you need to change it, increase the information available.  Those who have enticing listings get many more inquiries than listings with very little information.

 

If you want your business for sale listing to work, these are the steps which you need to follow.


Filed under: Selling a business — Gary Landa @ 9:12 am


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