Selling your business is an arduous and very demanding task; it is time consuming, stressful and often emotionally draining. Naturally the sale will dominate the owners thoughts and resources during this period and it is very easy for an owner to take their eye of the ball. The key to a successful sale is planning and preparation. This strategy should also include information about how the business will advertise and be marketed when it is sold.
Many owners who have never sold a business before underestimate the importance of marketing and packaging their business in a way that is attractive to potential buyers.
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Marketing must be carefully planned and executed as with everything pre-sale. Marketing is designed to generate enough interest from qualified buyers to make your business more attractive to potential buyers. This is not an easy task, as many business brokers and owners will attest.
Your own industry or market is the best place to start when marketing your business. Your market will be more familiar than any intermediary or business broker. This will allow you to identify the companies and individuals who will consider your business attractive.
You will need to balance the reach of your business and the privacy of those you are selling it to if you decide to market and sell it without professional assistance.