Just heard from a broker client who had a seller crying on his shoulder because his listing period was up and he still had not sold his business. The reason he had not sold his business is because when it first went on the market he got many offers & some at full price and terms & but he got greedy thinking they were asking too low of a price initially for the business.
Many sellers make this mistake and pay for it &
70% of all businesses for sale on the market are never sold!
The first 30 days of a marketing campaign to sell a business opportunity are probably the most important. That is when you are going to get your strongest response & and from the most serious and motivated buyers. If you don't take those offers seriously buyers are going to move on and look at other businesses that are for sale and probably purchase them!
Consider each offer and if it makes sense & take it, but make sure you also have back up buyers/offers in case the deal doesn't move forward in an expedient manner. If you carefully prepare before you go to market &
value your business the right way the first time out and know that you will be comfortable with as far as price and deal structure is concerned then you should have no problem accepting "
the right offer".•
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