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    2 Replies Latest reply on Sep 10, 2019 2:33 PM by pittsenbargar

    How to Make Your Business Attractive to Potential Buyers

    pittsenbargar Adventurer

      How to Make Your Business Attractive to Potential Buyers

       

       

      You’ve spent months, maybe even years, building up your business and

      preparing to sell. Now that the market is hot and timing is right, you’ve

      established your employees’ roles, finalized an exit plan, and established

      a fair asking price. All you have left – the most important part – is

      finding a buyer. But not just any buyer, a direct buyer you can trust to

      successfully grow the business.

       

       

       

      If you are ready to sell your small business, here are 6 ways to attract

      high-potential buyers:

       

       

       

      1.  Clearly demonstrate a plan to maximize cash flow. Show potential

      buyers:

       

      ·    A list of capital assets

       

      ·    An explanation of best use of labor

       

      ·    Sustainable financing with low interest rates

       

      ·    Most reliable and sustainable income generators

       

       

       

      It’s important to get your metrics together in order to show a clear plan

      for data organization and tracking moving forward.

       

       

       

      2.  Have an easy-to-execute succession plan:

       

      When you show potential buyers that you have intentionally prepared for

      them, it shows careful forethought. A succession plan is appealing because

      it demonstrates the value YOU place in the business rather than looking

      like you are quickly running out on a failing business. Your business is

      worth the investment.

       

      3.  Provide a client profile (in additional to customer database/email

      list):

       

      A large, sustainable customer base with contact information will reassure

      potential buyers that they are not dependent on five customers who are

      loyal to the previous owner. They can rest assured that a client base will

      remain, and they will be able to continue communication after change in

      ownership.

       

       

       

      4.  Provide expansion ideas:

       

      If you have a few visions in mind, share them with the potential buyer!

      Even if they choose to go another direction, they’ll be happy to know that

      you built this business from a growth mindset.

       

       

       

      5.  Be a resource:

       

      Handing over the reins can be a tough transition for both parties.

      Throughout the buying process, serve as an available, helpful resource for

      your buyer (when possible). This will help reassure them that they are

      making a wise and safe investment.

       

       

       

      6.  Spruce it up!:

       

      For brick and mortar businesses, appearances matter. No one wants a

      building – or business – that looks like it’s falling apart. Paint the

      walls, renovate, declutter, landscape; visual appeal does wonders.

       

       

      7. Smart Ways to Sell Your Small Business

       

      For more information on how to sell your small business keep reading: https://www.linkedin.com/pulse/smart-ways-sell-your-small-business-brett-pittsenbargar/

      Smart Ways to Sell Your Small Business

       

       

      Brett Pittsenbargar is a savvy business investor and turnaround strategist

      dedicated to assisting business owners reach their objective at every

      growth phase. With a background in business development and investment

      experience, Pittsenbargar understands that business is much more than

      written contracts, it is about the people working every day in the business

      who matter.