The contract is signed, now the work begins to market a business to find the right buyer.
Our team invests time and effort in this stage to ensure we are highlighting some of the details that will sell your business A large portion of this is meeting with our clients and getting to know the business. We get a better idea of how to market the business in a generic fashion so it remains confidential. Crafting words for the ad and titles to submit to the many internet websites that feature businesses for sale. Our business website, lakecountryadvisors.com, also features all our business opportunities where we have an e-sign non-disclosure agreement for each business. Some of the more prominent websites we use to advertise are bizbuysell, businessbroker.net, bizquest, and others. Opportunities are also added to Axial.net. In addition to the fees to list on these sites, we often pay to have our listings spotlighted in a more prominent position with a higher profile on these sites.
We package the business by writing an offering memorandum that will give a prospective buyer the facts on the business. Before posting the business on websites, we want to have this confidential profile written and ready to present to vetted prospective buyers. This is a confidential profile and only customers who have signed a non-disclosure agreement will see this.
In addition to marketing on websites, we do email marketing from our database, contacting those buyers who have looked at similar businesses. (Our database has over 25,000 contacts that have inquired on businesses.) We also purchase lists for mailings that feature the business opportunity and at times we’ll take out an ad in a business/industry magazine or newspaper to promote the business. Social media is another avenue we’ve used to get the business opportunity is front of buyers. We use many platforms to market a business listing.
Every quarter we pull the statistics for each business opportunity from a number of the websites that they are on. This helps us see how much it is has been viewed and if we need to re-word or change a title to try to get more interest. Our clients get a copy of the quarterly internet reports so they can see how many views, clicks and how many calls we’ve received on their business.
We know marketing is key is getting the right buyer for your business. Reach out to our team to help with an exit strategy for your business.