Who Will buy?

Target Your Prospective Buying Audience

Business buyers are becoming increasingly frustrated today by not being able to find the businesses they are interested in. The growth in ‘businessforsale ‘portals has increased substantially in the past 10 years. And many business owners and business brokers are advertising their businesses on more than one site. The outcome: congestion leading to business buyer frustration. Business sellers and business buyers are finding it harder to ‘find’ each other.

Some years ago, business buyers sought to find businesses of interest to them by using ‘categories’ or by placing their advertisements alongside similar businesses. It worked reasonably well.

Today, they are more likely to select ‘location’ as their first criteria to ‘sort’ businesses that may be of interest. After all, they know where they want to buy a business.

The issue for the business owners is the conflict between disclosing ‘location’ and maintaining ‘confidentiality’. Let’s face it, if a business owner ‘has the only business of that type’ in a suburb or town or region, then when it is placed for sale, everyone who is employee, customer, supplier or landlord or any other person associated with the business becomes aware of the sale. Uncertainty and privacy comes to the fore in their minds and those of the prospective business buyer as well.

‘Who will buy’ and ‘where are those prospective business buyers’ are the two points to address for business owners seeking to sell. Is going into the open market may not be an option? How is the conflict between business buyers selection of ‘location’ and ‘privacy’ to be handled? Is it better to approach prospective business buyers directly? Is it best to reach them through platforms such as newspapers, magazines and the Internet etc? Is it through dedicated, closely controlled and narrowly focused advertising campaign’s like Google AdWords? I it a combination of all these?

It is a critical decision. Focused too broadly and the cost can be prohibitive and privacy a concerned. Focus it too narrowly and the business buyer may be missed. But, a ‘throw it on the market and hope for the best’ won’t do the job.

Consider where your prospective buyers are and how to reach them carefully.

If you need more information or help, please talk to me

Graham Long

0428-649-791

Kevin Lovewell

M: 0401-308-385
E: Click here to contact Kevin Lovewell
Member & Registered Business Valuer
Australian Institute of Business Brokers

Graham Long

M: 0428-649-791
E: Click here to contact Graham Long
Member & Registered Business Valuer
Australian Institute of Business Brokers

Kevin Lovewell

M: 0401-308-385
E: Click here to contact Kevin Lovewell
Member & Registered Business Valuer
Australian Institute of Business Brokers
What others say about Kevin Lovewell

Graham Long

M: 0428-649-791
E: Click here to contact Graham Long
Member & Registered Business Valuer
Australian Institute of Business Brokers
What others say about Graham Long

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