Morgan & Westfield is not your average business broker. While traditional business brokers and business brokerage firms have always patterned their...
How to Sell a Business: The Showing
Wait for Questions
Save time and energy by waiting for interested buyers to contact you with additional questions.
You have advertised your business for sale. You have prescreened the buyers and sent those qualified buyers your Business Summary. What do you do now?
The next step is simple. Wait for buyers to contact you with additional questions. You may follow up with the buyers if you like, however, we don’t think this is necessary. It is probably a good idea to call the buyer when sending him/her your Business Summary and introduce yourself to the buyer. We don’t do this – we simply receive the buyer’s NDA and immediately send the buyer the Business Summary. Most buyers appreciate our direct, fast approach; however, as a seller, it may make the process more personal if you call the buyer in addition to sending them your Business Summary.
After buyers receive your Business Summary, they will typically call or email you if they have questions.
What should I do after I send buyers my Business Summary? You really don’t need to do anything. Most buyers will contact you if they have questions or are interested in your business. You can follow up with those buyers who don’t contact you back. We recommend doing this in a few days or a week after you receive their inquiry. We don’t do this; however, you can do this if you are highly motivated and are in a hurry to sell.