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Creating Your Ad and how to Market Your Business For Sale
After going to all the trouble of preparing your business, and collecting the necessary information for its sale, itâ€™s important not to rush the advertising portion of the process. By posting limited, ineffective ads you may only receive calls from buyers whom you consider unqualified and unprofessional. In short, if you are not thorough in your marketing you might be wasting a lot of time, both for yourself and potential buyers.
A basic idea for most classified ads is to whet the potential buyer's appetite. You want legitimate offers, so avoid big promises and overstated claims. Try to write your ad in laymanâ€™s terms; industry talk and technical terms may discourage potential buyers.
The More the Better.
More information gives buyers a sense of security: they may feel they already know a lot about you and your business just by reading your ad. If you include enough information in the description section the buyer will be pre-qualified when they contact you - this saves both parties a lot of hassle. Buyers feel more trustful of a seller with comprehensive advertising, which helps when it comes time to negotiate a sale
Serious buyers find it helpful if you put some of the following information in the detail section of your ad:
Including this information will improve the quality of the calls you receive from buyers, and you will spend much less time answering the same old questions.
Get their attention - â€˜featuringâ€™ your ad improves exposure
This site offers featured listings as well as offering a bonus listing on a leading Business Directory which is seen by hundreds of business owners and potential business operators every day. It's a chance of extra exposure which shouldn't be missed.
FOLLOWING UP ON THE AD
Keep tabs on your advertising results
If you do post your business online, make sure your anonymity is maintained and that any enquiries are made through a 'contact form' on the site or if you wish by a phone number you want to use.
The first month is critical
Get back to potential buyers immediately
Don't stop marketing/advertising until the check comes
Deciding where and how to advertise
The best results come from advertising in a medium which specifically targets the largest number of prospective buyers. Good advertising must cater to likely buyer groups. For this reason, advertising your business on a dedicated business sales website, and representing it in a business specific format, is the preferred option when seeking more qualified buyers. Make the entire process easier on yourself and advertise in the right medium. Selling your business through a site catering specifically to business buyers will maximise your exposure to quality buyers in all areas local, national, and international. Limiting your advertising to one or two mismanaged or misplaced ads only exposes your business to a small portion of the buyer field. Clumsy advertising may also inadvertently alert employees, customers and suppliers that the business is for sale, a fact you may not wish to disclose early on in the sale process.
Advertising in the classified section of local or national newspapers, the trading post or specific business sales magazines is a good backup to internet exposure. Put small ads on local notice boards if you are comfortable with people knowing you are selling a business. With these methods you are getting your business in front of a group of people who may not use the internet on a regular basis.
By following this advice you can improve the marketing of your business for sale. Using these techniques will give you a head start to a successful sale.
This sale of business site can offer you a great marketing opportunity AND some bonuses and services you won't find anywhere else. It is a small investment with huge potential.
A broker can place ads for you and provide advice on how to word those ads; they can also field inquiries, allowing you can take care of day-to-day business operations.
Do you really need to use a broker?
Handling a sale yourself saves you the broker's commission (usually around 10 percent of the final sale price) , and, since most small business sales these days are marketed on the Internet, the work a broker can do is limited. A seller will hit many buyers by advertising on top business for sale sites. Business for sale websites make sense for many small business sellers, since these sites are geared to individual buyers, which make up the majority of small business buyers.
Additionally, if you have a buyer in mind (such as an employee or relative) and feel comfortable doing the selling work with your current lawyer and accountant, you wonâ€™t need a broker.
One of the mains reasons many sellers use brokers is for their expertise in fielding responses to your ads. Responding to inquiries and steadily moving a deal forward (or opting to decline) can be difficult, and may be worth the brokerâ€™s fee. But it pays to consider improving these skills in yourself if you would like to have a lot more of the sale price end up in your own pocket.
So now you have prepared the business for sale and it's out in the public eye...now what? Well the next stage is how you deal with all the phone calls and emails you will receive. The way you are with prospective buyers is very important to making a good and lasting impression with those interested in buying your business.
For help with anything related to selling a business please go here - selling a business.
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