The selling business online efforts that fail to achieve their objective--a good deal with a qualified buyer--usually fail to incorporate the key ingredients needed to achieve the desired results. The small or mid-sized business owner planning on offering his or her company on the Internet should become familiar with these five simple-to-follow recommendations.
1. Start the ad with an attention getting headline: Capture buyer interest with a few words that emphasize the most attractive features of the offering. Examples are high profitability, good selling terms, a growing business, a great location and a long-term lease. If advertising online with a platform dedicated to business offerings, mention the type of business and general location, such as the county where located, but don't waste headline words by stating the obvious, such as "for sale."
2. Key points belong in the brief description: A good beginning is a few-word explanation of the key features cited in the headline. Examples are "owner earnings $100,000+"; "high traffic shopping center"; "ten year lease plus options"; "seller will carry up to 30%".
Make sure the price and terms are listed. It's usually helpful to include, in the selling business online ad, the number of years in operation--if the company is well established, reason for selling, and a bit more description about the business--type of product sold, type of customers catered to (businesses? homeowners?). Any other characteristics of the offering that make it special or unique also should be mentioned.
Additionally many sellers find it useful to note that they are willing to work with brokers who bring qualified buyers.
3. Don't disclose identity of business: Most sellers are careful to keep information in the ad rather generic; so that the buyer prospects can’t tell specifically which business is being offered. That is because it’s almost never a good idea to alert customers, employees, suppliers or competitors that the business is for sale. Some sellers even like to notify buyers, in the ad, that they will be required to sign non-disclosure agreements before getting any identifying information about the company.
4. Contact information: Two contact phone numbers should be included so the seller is easy to contact. One might be home phone; the other could be the seller’s mobile phone. The business phone number should not be included if identity of the company is not to be disclosed to people who have not been qualified. Note that few business brokers or sellers include an email address for contact. Those who do are subject to possible spam in their email account.
5. Qualify before disclosing: Among the most important bits of advice about the selling business online procedure is to make sure any buyers who are given the seller’s time and information have been qualified as to financial ability and applicable experience, and have signed the non-disclosure form. Sample forms are available from some business materials publishers, and can be accessed by business for sale advertisers on BizBen.com.
Those wishing to retire from their small or mid-sized California businesses, or want to engage in another business or activity, can increase the chances of success for their selling business online campaigns by following these five suggestions above.
About the Author: Peter Siegel, MBA is the Founder of www.BizBen.com and the Director of the BizBen Network. Mr. Siegel consults daily with California business owners, business brokers, and business buyers on the best strategies to sell or buy a California small to mid-sized business. Peter Siegel can be reached direct by phoning 866-270-6278.
|Helpful Resources To Assist In Selling And Buying California Businesses|
|Willard Michlin, CPA, Certified Fraud Examiner, Due Diligence Services
Willard Michlin, CPA #106752, offers buyers step by step training & assistance in doing Due Diligence Services when they are thinking of making an offer, or are in process of investigating a business purchase. He helps to determine the actual net profit even when there is cash. Call 805-428-2063.
|Brad Steinberg, Broker - Laundromat Specialists
PWS is the leading laundromat broker in California. Since 1968 PWS has brokered over 2,500 laundromat sales. With over 90 employees dedicated to the coin laundry industry, PWS has 18 licensed agents, a 3 person in-house finance department, 10 service technicians and a 20 person parts department.
|Ranvir S. Sandhu, Esq. - Legal Services For Buyers And Sellers
I've worked at top Bay Area law firms and have extensive experience with business entity formation, mergers, dissolutions, conversions, employment matters, including experience in reviewing and negotiating transactional documents such as leases and purchase agreements.
|Janet Carrera - Escrow & Bulk Sale Services - SF Bay Area
Redwood Escrow Services, Inc. is a full service, licensed independent escrow company. We are EAFC Fidelity bonded, fully insured & licensed with the Department of Corporations. Committed to offering our clients the most comprehensive variety of escrow services available. Phone Janet at 510-247-0741.
|Mark Chatow, Esq.: Legal Services For Buying, Selling Businesses
Mark has a broad range of small business purchase & sale experience from analyzing potential acquisition targets to successfully guiding buyers and sellers through the purchase & sale of small businesses. Mark can assist with contracts, negotiations, legal matters, etc. Reach Mark at 949-478-8393.
|Helen Yoo: Escrow & Bulk Sale Services - Southern California
New Century Escrow, Inc. is a fully licensed & bonded independent escrow company. Over 20 years combined experience in handling bulk escrow transactions. Multi-lingual staff that speaks your language, including Korean, Chinese, Vietnamese. Call Helen Yoo direct at 626-890-1151.
|Joe Sandbank, Esq. - Legal Services
I have provided legal counsel to business buyers, sellers and brokers for over 17 years. With prior experience as a business broker and SBA loan officer, Joe brings both a practical and legal approach to all aspects of the business acquisition process.
|Diane Boudreau-Tschetter: Escrow And Bulk Sale Services
California Business Escrow, Inc. is a full service independent escrow company serving all of California and has expertise in a wide range of escrows. Our team prides itself on providing an exceptional escrow experience. For more info phone Diane Boudreau-Tschetter at 888-383-3331 or 209-838-1100.
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