Advertising Your Business’s Sale
One of the most important aspects of any business’s sale is advertising. To find a qualified buyer, your sale needs to be effectively marketed. An ineffective marketing campaign can make it almost impossible to find a quality buyer and ultimately sell your business.
Advertising your business’s sale is unlike advertising the sale of any other type of product or service. Because the process is so different, you should always seek professional assistance in advertising your company’s sale. At the Reno, Nevada, office of Morgan & Westfield, our team of professional business brokers can market the sale of your business for you.
When business sales are being advertised (and throughout the entire sales process), protecting your business’s confidentiality is absolutely vital.
The value of your company could be in jeopardy if your customers, suppliers, competitors or even employees learn about your sale. Employees and suppliers can become less dedicated to working with you and growing your company. Customers could take their business elsewhere. And competitors could view your impending sale as an opportunity to increase their market share. All of these can deter potential buyers from purchasing your company and significantly impact your company’s selling price.
To prevent the damage of an indiscreet sale and protect your business, our business brokers utilize a system called “confidential marketing” to advertise your business’s sale.
Essentially, our brokers will advertise your sale without using any specific information about your company. For example, your business may be advertised as a small business in Nevada’s Washoe County, in the hospitality and tourism industry, with an asking price of $8 million. This information is generic enough to protect your business’s anonymity, yet it is also specific enough to give potential buyers adequate information to determine if they are interested in learning more.
Screening Potential Buyers
Potential buyers who are exposed to our confidential marketing campaign will be prompted to contact the Reno, Nevada, office of Morgan & Westfield if they are interested in finding more about your business. Buyers who contact our office will be screened to determine whether they are legitimately interested in purchasing your business or they are just looking to “kick the tires.”
During the screening process, our brokers will also try to get an understanding of the qualifications of potential buyers in terms of their ability to actually run the business. Their ability to run your business is particularly important in situations in which you will be financing your own sale. Because if they are unable to run the business, their ability to successfully fulfill their repayment responsibilities becomes significantly less.
Our brokers will also screen buyers based on their financial ability to purchase your company and their history of repaying debts. Screening buyers for their financial qualifications ensures that you will only be presented with buyers who are capable of purchasing your company.
After your potential buyers have been screened based on these considerations, they will be required to sign a confidentiality agreement. This contract will prohibit potential buyers from disclosing any information about your company, thereby maintaining a confidential sale. Only when screening has been completed and a confidentiality agreement has been signed will prospective buyers be provided with specific information about your company.
Business Brokers of Northwestern Nevada
Our team of business brokers at the Reno, Nevada, office of Morgan & Westfield have hundreds of years of combined experience in facilitating business sales in the Northwestern Nevada and Northeastern California areas. This experience has allowed us to build relationships with countless business owners, investors and industry professionals throughout this region.
Our extensive experience here, along with these connections, enables our business brokers to maintain a deep understanding of the dynamics of this marketplace. This understanding is an integral aspect of our ability to effectively advise you and facilitate your business’s sale.
Communities within this region where our business brokers are particularly experienced in include:
- Nevada: Reno, Sparks, Sun Valley, Cold Springs, Lemmon Valley, Golden Valley, Spanish Springs, Verdi, Lockwood, Patrick, Clark, Wadsworth, Olinghouse, Nixon, Fernley, Hazen, Silver Springs, Stagecoach, Virginia City, Mound House, Incline Village, Washoe City, New Washoe City, Mound House, Glenbrook, Indian Hills and Carson City.
- California: Chilcoot-Vinton, Scotts, Beckwourth, Loyalton, Sierraville, Sattley, Calpine, Mystic, Floriston, Tahoe City, Olympic Valley, Homewood, Tahoma, Norden, Cisco and Truckee.
Each year, our business brokers facilitate hundreds of successful sales throughout these communities as well as in many of the neighboring communities that make up this region. These sales include companies in nearly every industry with values ranging from $50,000 to more than $95 million. Through utilizing the expertise that our business brokers have accumulated over many years, our brokers are uniquely qualified to facilitate any business sale in this region.
If you are a business owner in the Northwestern Nevada area and you are considering selling your business, contact our Reno, Nevada, office to schedule a free consultation. Our business brokers will discuss the unique circumstances of your sale with you, the services that we provide, and how our services can make it easier for you to sell your business. To schedule your free consultation with one of our business brokers, contact the Reno, Nevada, office of Morgan & Westfield today.