Why do Some Businesses Sell Quickly while Others Never Sell with Bill Kelly
- S7E13
- 12:59
- January 31st 2022
Episode 13 Why do Some Businesses Sell Quickly while Others Never Sell? Setting realistic expectations on the sale of your business.
Start by asking yourself if you are selling a money-making system or a job?
Most Job Based Businesses are bought by either a First Time Buyers or Strategic Buyers. First Time Buyers are looking to gain more control over their financial future in an industry they have experience in. Strategic Buyers usually already have a successful business but want to acquire more cash flow, a larger territory, additional products or services, or key customers, and employees with experience in their industry.
Job Based Businesses often require more time for the Broker to find qualified Buyers and educate them on the business’s past performance and future potential. They will usually require more time finding financing and may require mor Seller assistance after the sale.
Strategic Buyers usually know what they are looking for and generally may close faster. They already know how to run a business so their Due Diligence list will be more detailed.
Tags: Selling a Business, Business Brokers, Strategic Buyers, Selling Your Job, Franchise Model, Buying a Business, Transworld Business Advisors
The Entrepreneur's Edge!
Meet your host, Bill Kelly, serial entrepreneur, Senior Business Broker for Transworld of Richmond, and a Commercial Real Estate Agent for our affiliate company Planet CRE.
Over the next 52 episodes we will discuss the best practices and strategies for buying and selling businesses and franchises using the proven methods developed over 45-year by Transworld Business Advisors and hearing from guests and professionals I have the pleasure to work with.
Each episode has additional written information your might find helpful. Here is a complete listing of Show Notes. Want to continue the conversation? Add your thoughts in the comments section available at the bottom of each page of notes on the site. Simply click "read more" and let's get the conversations started!