Why Buyers Don't Buy a Business
The short answer is; -
The last thing a business seller wants is to see their business left on the shelf and going stale because of a lack of inquiries. There is much research on this topic, but it all comes down to a few factors in order of significance.
- Having found a business they wanted, buyers often complain that they just couldn't get enough information to make a buying decision because the business owners are often too secretive to open their books for full disclosure.
- Buyers do not proceed if the business is overpriced.
- Only a small percentage of buyers fail to buy a business because they couldn't find a business that they wanted or needed.
All consultants in the marketing and selling of businesses industry should insist upon an executed confidentiality agreement prior to reieasing any information on your business. If you adhere do these tips. I.E. - provide the right information and don't over price your business, you will dramatically improve your chances for a quick sale and possibly even sell for above market valuation.