MARKETING A BUSINESS
1. Develop a BUSINESS PROFILE:
subsequent to a listing agreement, your agent will gather important information that would help a prospective buyer understand your business
through informal interviews the seller will be asked for the following information:
history
hours of operations
employee information
detailed description of the business’ products and/or services
several years of financial statements and corporate tax returns
asset lists
premise leases
marketing materials utilized by company
customer information
owner involvement in business
competition
technology and research
strengths, weaknesses, opportunities and threats
environmental issues
photos of your business may be taken
all this information is then compiled, along with a written summary of your business and financial analysis, in a BUSINESS PROFILE document
depending on the confidentiality parameters agreed upon, this document, in many cases, will usually provide a buyer sufficient information to make an offer
2 .Define the likely buyer:
in some cases, the buyer for your business has already been identified. It could include:
previous interested parties
customers, suppliers or competitors
leads from industry journals and associations
public companies that have an acquisition strategy
financial (investment) buyers
management and/or employees
small corporations or individuals
the approach to selling a business to specific buyers such as the above must consider a strategy that will maximize the return to the seller. Contracting a professional agent to accomplish this goal is as important as in the situation where a potential buyer is not identified.
3. Seek out the buyer
a marketing strategy is proposed by ACE BUSINESS VENTURES INC. and approved by the seller
the following initiatives may be considered by the agent:
review list of qualified prospects and discreetly phone/contact the agent’s network of professionals including accountants, lawyers, financial advisors, business consultants, appraisers and valuators, tax advisors, investors, financial planners, commercial realtors and other business brokers
target likely candidates and companies with a phone call and send either general or confidential information based on the agent’s professional judgment
investigate all business related web sites for potential buyers
depending on the confidentiality parameters established, register the business information on business related web sites including MLS (multiple listing service)
if agreed to by seller, utilize other mass media and telecommunication methods.
advertise in local, regional, national or international publications
work with other business brokers who may have potential acquisition candidates
4. Generate offers
one of the functions of an agent is to screen and qualify potential buyers and to apply the confidentiality parameters that have been agreed upon
as the agent knows the sellers situation, he will work with the buyer to objectively structure an offer that meets the requirements of both parties
the offers will be presented to the seller under the rules of COMMON LAW AGENCY and if necessary, a counter-offer can be developed with the agent’s assistance
once the letter of intent or the offer has been accepted, the job of ACE BUSINESS VENTURES INC. is not yet completed
as deals can terminate at any stage of the negotiation, we will be closely involved until closing day to ensure that the transaction progresses to a final WIN-WIN outcome