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