Responses and The Process I'am Taking With Business Buyers

I have had the station on the market for approximately two weeks now. I have advertised it in the paper and on the web. I have received approximately 75 - 80 calls. I have been returning each and every call.

I take each caller through the following process.

1) Take their name & phone number and add it to my spreadsheet

2) Fax them a summary sheet (this has basic information on it. A lot more than a classified newspaper ad and a little bit more than the web).

3) If they call back I send them a Nondisclosure (web folks get this with the summary)

4) When I receive a signed Nondisclosure, I fax them a 15 page business overview.

5) After they have reviewed the business overview, if they are still interested I give them the address of the station and tell them to visit it.

6) If a potential buyer visits the station and still wants to talk I give them the past three years of P&Ls.

7) After all of this if they are still interested I might get an offer.

Needless to say I will have a horrendous cell phone bill this month and I have replaced my fax machine's toner. This is a lot of work!

The asking price is 1,850 Million no property. So far I gotten four offers:

Buyer A - full price. Young person who says he is brains and he father is the money. They a partners in a another service station. His father will get back from vacation 9/24, Then I will now what's up with this buyer.

Buyer B - Initial offer was 1.5 Million. Then he called back and offered 1.55 Million. Claims to own many hotels, and buying something for his son.

Buyer C - Offered 1.4 Million. Liquor store owner, and ran a service station for three months.

Buyer D - Offered 1.2 Million. Liquor store owner would have come up in price, but I did not think it was worth it.

I have approximately three strong potential buyers who have went through process and I believe might make offers this week. In addition there is a broker who claims I am at top of my range, but believes he can get a offer above asking price. I told him go for it.