A nightmare scenario for most business owners is to learn that rumors are spreading among their employees, customers, vendors, bankers and competitors that their business is for sale.
It’s only human nature for most people to suspect the worst until confronted with the truth, and we’ve all seen examples where long term, loyal employees start lining up & seriously considering their other employment options; long term, loyal customers begin qualifying back up sources “just in case;” vendors and bankers begin to reconsider if they might be over extended in the event of a sale; vendors’ sales reps soon spread the rumor to all who’ll listen, including your fiercest competitors; and competitors use the opportunity to undermine your customers’ confidence that you will always be there when they need you, etc.
In short, there is enormous downside risk from leaking the news that you’re thinking of selling, and almost no upside. For this reason, most thoughtful business owners entrust the marketing and sale of their business to an experienced intermediary who knows how to CONFIDENTIALLY market your business to the most likely and most qualified buyers, while screening out the nosey tire kickers.
At Legacy Advisors Group, we’re in regular, direct communication with hundreds of qualified & motivated, individual and corporate buyers – both domestic and international – for small- to medium-sized companies. We’re experienced in CONFIDENTIALLY finding just the right buyer for this sized business.
If you know of a business owner who’s thinking of selling or buying a business and who might benefit from a free, confidential, consultation with us, have them contact me at: email@example.com
By: Mike Ertel, Transworld M&A Advisors