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| Frequently Asked Questions: |
Q: How long will it take to sell my business? |
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The time needed to sell your business depends on many factors, including the price of your business, the type of business and market conditions. Obviously, reasonable pricing and flexible terms tend to result in faster sales. |
Q: How will my business be advertised? |
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We first market your business to our extensive database of qualified buyers. We advertise on the Internet, via the Buy-Business.us website worldwide.
Throughout all the promotional marketing we undertake to find a Buyer for your business, we ensure all aspects of confidentiality by excluding any specific identifying information on your business. |
Q: What types of offers should I expect receive? |
| An astute buyer is going to structure his initial offer to get the best possible price and terms from you. Therefore, you should expect to receive a low initial offer. Don't be offended - this is normally just an initial offer to "test the waters." It's the first step in the negotiation of an appropriate purchase price for your business.
All offers will contain some important contingencies, including review of the financial books and records of the business, obtaining a satisfactory lease and agreement on training and transition periods.
Other contingencies specific to your business may also be included. Contingencies are normal and provide the buyer with the opportunity to verify the information
presented in the marketing materials. |
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| Q: How long is the training period for the buyer? |
| Generally, you will be expected to
provide two weeks to two months of training in the
business with equal time of telephone consultation.
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| Q: When should I tell my employees about the
sale? |
| Our considerable experience has proven
that it is best to tell your employees about the sale
immediately before or immediately after the sale is
complete. Of course, if there is an employee whose
expertise will be needed after the sale, you should
introduce the buyer to this employee shortly before
closing. |
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| Q: Does Buy-Business.us financially qualify
the buyer? |
| No. We usually ask for a personal
financial statement from the buyer, but we do not verify
that the information submitted is correct. If you
desire, we can run a credit report on the buyer, as long
as the buyer consents. |
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| Q: What can I do to help sell my business? |
As Buy-Business.us starts the process
of selling your business, there are certain things you
can do to help us:
1. Keep normal working hours.2.
Make sure your financial records are an accurate
reflection of revenues, business expenses and
assets/liability levels.
3. Conduct business as usual. Do not
let inventory levels dip below normal.
4. Keep the business clean and in good
repair.
5. Remove all equipment or furniture
that is not part of the sale.
6. Be as accommodating as possible in
setting appointments to meet with buyers. |
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| Q: How accessible is the Business Executive once
I agree to let him/her sell my business? |
| The lines of communication should
always be open. The Buy-Business.us office and Business
Executive are representing you and acting on your behalf
and will be available for consultation as required. It's
reasonable to expect that your messages or emails will
be returned promptly and that you will be given regular
updates. |
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| Q: How many buyer prospects will you typically
talk to in selling a business? |
| BuyBusiness maintains detailed records
of every active prospective buyer that has passed
through their screening process. These records should
include the prospect's financial status and the kind of
business each is looking to buy in terms of type, size,
geographic area, etc. A successful broker will have
prospects ready as soon as you list your company and
there are interested buyers. |
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| Q: Does Buy-Business.us have a highly effective
website? |
| In today's global marketplace,
prospective buyers are no longer limited to a specific
geographical area. A buyer for your business could come
from anywhere in the world, if your business is viewed
globally through an effective website and it is easy to
find. The Internet is a powerful marketing tool. |
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