If you’re flirting with the idea of selling a business, it’s imperative that you be equipped to field questions from prospective buyers. To prime yourself for hard-hitting queries, consider these common concerns that potential investors have.
Why are you selling?
Whether your business is no longer financially viable, or you’ve decided to retire from the industry, honesty is the best policy.
Is profitability attainable?
When attempting to prove this point, you’ll want to have your financial documents at the ready. Not only is this savvy, but it’ll help establish credibility as well.
Is there a future here?
Given your decision to sell the business, it’s not uncommon for inquiring business owners to challenge the likelihood of success.
How does it perform in the market?
Any investor worth their salt will want to know if and how your business is positioned in the market.
What are the employees like?
If your staff is staying behind, highlight their capabilities in an effort to sway probable buyers.
Is the price competitive?
A simple comparison will reveal whether or not your business is priced right. Again, it’s vital that you provide documentation to validate your claims.
How much industry support have you granted?
If your business doesn’t have a loyal consumer base, you can kiss any investment opportunities farewell.
Are there financing options?
If your business can’t be financed, you’ll need to be candid about this setback.
Is it too good to be true?
If there are any complications you’re keeping hidden, they’ll inevitably come to light.
How is the lease assigned?
The closing conditions are exceedingly important, and your buyer will want to be privy to these proceedings.
If you’re looking to sell your business, and deal minimally with finding and communicating with a buyer, we recommend hiring a Fort Lauderdale business broker. As one of the largest networks of business intermediaries in the world, VR Blue Ocean Business Brokers offers extensive assistance and has a history of successful sales. With our global reach, we can confidently match buyers with sellers, and have done so since 1979.
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