Selling Your Business Online

2misi.com

Many business owners looking to sell their business don't realize they can use the internet to make the selling process go more smoothly. Online business for sale marketplaces allow sellers to reach a large number of potential buyers and provide resources for owners considering putting their business up for sale.

Q: What should a seller do to prepare for listing a business for sale online?

A: Allowing yourself enough time is key. Too often, people try to rush their business to market and run into complications during the selling process as a result. Figure out your company's financial situation so that you can present this information to prospective buyers.

Once you put the business up for sale, have all of the information relating to potential growth and revenue, past performance and business costs on hand. Putting the time and effort into preparing these figures in advance will tell potential buyers that you know what you're doing and give them more confidence in you.

Q: What tips do you have for creating a business for sale listing?

A: Providing the right information is imperative. There's a fine line between providing so few details that prospects don't take notice and providing so many that your business' confidentiality is compromised.

The key is providing the most information possible without giving away the identity of the business. It's important to give viewers an idea of the general location of the business, but don't post the street address, phone number or address in the listing. Instead, create a separate email address and phone number for inquiries from potential buyers.

It sometimes helps to tell potential buyers why you're selling the business. If you're honest, people tend to be less skeptical. Once you list your business, you might find that certain questions come up repeatedly in inquiries.

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