Today I had a business broker who advertises on
USABizMart.com (has sold many restaurant listings on the site) call me and complain that on one particular listing advertised they weren't getting their usually great response from business buyers.
After looking up the ad for him I noticed he had practically no information filled out for buyers to learn more about the business. Also the price he was asking was $540K (more about that in a second).
By just glancing at the ad I could tell why he wasn't getting a very good response & there wasn't very good information for potential buyers to call him about. Writing
descriptive copy in an ad can make all the difference & that is why
Fast Track Advertising on our site works so well & descriptive business for sale ads work the best.
Also while questioning him about the ad I asked him what the adjusted net income was to make sure it was priced correctly. When he told me it was a little over $100K I about fell off my chair. A 5X multiple on a restaurant & no wonder it hasn't sold or gotten a positive response! Like many optimistic brokers and agents he told me, "yeah well it's in a great neighborhood, they just remodeled, etc.). My response: I don't care what they have done - no restaurant is worth a 5X multiple of adjusted net income!
No wonder 70% of all small business for sale listings never sell!Bottom line & if you want to sell a business you need to give a little more information and not let the nature of confidentiality hold back the sale. There are ways to advertise successfully without blowing the confidentiality on a sale of a small business!•
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