If you, the owner of your small business, are thinking about selling, then you doubtlessly have some questions. There is no secret art to selling that is going to make you rich overnight, but you can use the tools available to you to maximize your profits and walk away with a check that will more than compensate you for your years of blood, sweat and tears. Selling a business that you have grown yourself, whether from the ground up or from buying it, can be a tough process… but by following a few simple guidelines, you can make it as easy on yourself as possible. Just remember that selling your small business on your own is completely possible. In fact, sellers do it almost every single day! All you need is some help.
Related: How to Sell Your Business Without Hiring a Broker
Advertise to Locals
First of all, if you do not have much money to spend on advertising (which is usually the case with very small, local businesses), you will probably want to advertise in the local classifieds or on local websites! The upside to putting your site up for sale in places like these is that a lot of local people will see them and this could include potential buyers. The downside to this, however, is the fact that you will ONLY be advertising your business to the local community. In doing this, you cut out potential buyers from other areas who might be looking to get into a business just like yours.
Market Your Website
For businesses that do have a budget for marketing, you might want to try putting your business up on all of the popular online listings. Businesses are usually sold online nowadays and that is the best way to market your website. In fact, that is usually how brokers find buyers. They will post the website in one or even several different marketplaces on the Web and attract buyers this way. The downside to this type of marketing is that it will cost you a bit more… usually in fees for posting your business in the marketplaces. The upside, however, is that a lot more people will see your listing and this could include more potential buyers. This will not only attract buyers from your area but also buyers from other areas who might have more money in their pockets.
Use Niche Marketing
And finally, for those of you who have extra time to be especially crafty and also a sizable marketing budget, you could try using niche marketing to target buyers who may be specifically looking for businesses in your category or location. This can often yield great results in a shorter time-frame, though the cost in advertising and labor is often greater. This also requires a certain measure of creativity and marketing proficiency that some sellers will find challenging. The downside to this method is that it can cost you more and require more labor… but on the upside, it can help you to sell your business at sticker price in a reduced amount of time, because it will target buyers looking for YOUR business, not just buyers in general.
Drastically Increase Exposure for the Sale a Business Listing Has
If you are looking to sell your business, then listing your business for sale is one of the most important steps you will take. In a lot of ways, this is what will decide how the rest of the sale will go. If your listing is crafted, executed and advertised flawlessly, then the selling of your business will be just as smooth and flawless (in most cases). But if your listing is hasty, haphazard and less than perfect, you can expect the sales process to be about the same. Listing your business correctly is the first step to successfully selling your business for a maximum profit and in the end, that is what you want… right?
Check if the Listing Is Made Right
Here are some ways in which you can increase exposure for the listing of your business. First of all, make sure that your listing is crafted right. It should be written in such a way so as to highlight all of the positive features of the Site. Think of your listing as your sales pitch… you need to give every potential buyer the best possible outlook of your business. A correctly written listing will sell the buyer on the business and will convey that buying the business is a good decision and that it is worth what is being asked for it. A good listing will make a buyer feel like further investigation is in order and will make them feel like they should at least contact you to ask you a question or two.
Related: How to Write a Business Sale Memorandum
Post Your Ads on Business Sale Websites
The next step is to get your listing noticed by as many people as possible. This means that you need to advertise it. This might seem complex, because advertising a listing to sell a business is a bit different then other types of advertising. However, you will soon get the hang of it and you will find that getting your posting noticed relies on one thing… getting it in front of as many potential buyers as possible. To do this, you should post it on business sale websites. These are just a few of the websites that you can use to place your business listing in front of potential buyers.
If your business is worth an amount over 3 or 4 million dollars, then it might be a good idea to market a little broader. In such cases, mailings, direct phone calls to potential buyers and telemarketing can pay big dividends. With a smaller business, however, most marketing is usually done completely online, whether the business is an online business or not.
Gain Maximum Exposure
Getting exposure to your business will mostly rely on how much work you are going to put into it. If you are going to do it all the way and post your business listing on every available website, then you can expect plenty of offers and inquiries in a relative amount of time. If you post on only one Site instead of ten, then you are likely to spend about ten times as long waiting to hear anything from potential buyers. Exposure is a numbers game and to win you must play it as such.
About the author: Alissa Zucker is a content writer at https://mcessay.com. She is interested in reading classic and psychological books which give her inspiration to write her own articles and short stories.
