When you’re trying to sell your business, the last thing you want is to waste time dealing with buyers who aren’t qualified and are unlikely to actually make a purchase. Here are three signs to identify suitable buyers:
- Legitimate buyers will have interest in your industry and seek to gain more information through intelligent probing questions about your customer base and the strengths and weaknesses of your business.
- Genuine buyers will ask questions about your inventory, cash flow and wages/salaries to determine the profitability of the business and whether employees are compensated fairly.
- Serious buyers will evaluate any equipment and machines involved in the business. They will also likely enquire about inventory that is unusable due to the fact that it is outdated or problematic.
The best way to evaluate buyers is to turn to the experts. Your Business Broker or M&A Advisor will have years of experience talking to buyers giving them a leg up on evaluating who is worth your time.
A brokerage professional will handle incoming enquiries and only notify you of buyers who are suitable, qualified candidates while ensuring the highest standards of confidentiality are held along the way.