Advice on Selling a Business - Using Different Marketing Channels

Once the Business Sale Briefing Document has been agreed, the business is ready to be placed on the market. In most cases, 3 different channels are used:

• The main public business selling websites
• Our own database of buyers and professional advisers
• Jointly identified organisations who we wish to approach directly as high potential buyers

In every case the business will be advertised anonymously. However, it is important to be able to state reasonably accurately where the business is located so we recommend in most cases that key members of staff are briefed appropriately in case the news that the business is being advertised ‘comes back’.

Buyers who are interested will request a copy of the Business Sale Briefing Document which they will be sent electronically once they have agreed to a simple Non Disclosure Agreement. If there is particular sensitivity we can inform owners each time a potential buyer requests the Business Sale Briefing Document so that unwanted buyers can be filtered out.

On average, we find that we need to send out 20 to 25 Business Sale Briefing Documents to find 3 or 4 seriously interested buyers which is generally enough. If we are not achieving sufficient buyer interest we will work with the owner either to change some aspect of the offer and/or look for additional channels through which to communicate with buyers such as trade magazines, telesales etc. 

Quote from history: ‘Advertising is what you do when you can’t go see somebody.’ Fairfax Cone (1903 – 1977)

In summary, Anderson Shaw, in common with better business brokers, selling a business, will ensure that it is marketed using different channels to increase its exposure to appropriate buyers.