THINGS,YOU,SHOULD,KNOW,WHEN,WR business, insurance THINGS YOU SHOULD KNOW WHEN WRITING SELLING YOUR BUSINESS ON
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STRONGHEADLINES You've probably heard that you only have one chanceto make a first impression. No where is that more true than online, whereattention spans are brief and there are plenty of other ads vying for thebrowser's attention. You want a prospect to click your ad first; otherwise,they may go into another seller's details and never return to our screen. Youneed to target at least one exciting selling point in the headline. A headlinelike grocery store may not get many click-through. But Gourmet grocer withupscale customers tells a lot more, plus is better targets your buyers.Don't forget: you can edit your ad frequently onBizandBiz.com. Play with your headlines periodically to see what draws the mosttraffic. CATEGORIZEYOUR BUSINESS The headline needs to pinpoint the type of businessyou're selling to attract the best and most buyers. Saying Establishedbusiness for sale doesn't specify whether you've got a franchise taco stand ora veterinary clinic. Profitable Car Wash will draw prospects who may beskimming through all SIC codes in a given area. SHOULDYOU SPECIFY LOCATION? Listing the city for your firm is often a goodpractice, especially in a large country or state with many ads. Some prospectssearching the database only look at a given city and state, so they may missyour company if you just say Georgia. If you're in a small town in a metropolitan area, it's probably better tolist the city you are near in your basic listing, then name the actual town inyour summary text. Metro Atlanta will getmore hits than Duluth. However, there may be times you would want to leave the city blank. If youthink listing the city would endanger confidentiality say, if you're the onlyChinese restaurant in El Paso then leave it out. URGETHE BUYER TO ACT NOWAdvertising copywriters always end with a call toaction something that coaxes the observer to take the next step in the salescycle. You might suggest they call immediately, or Email for more information.Always make it clear what you want them to do next! ELIMINATEPOOR PROSPECTS Your ad should also steer serious buyers to contactyou while discouraging those who may only be just browsing. Listing enoughinformation to let prospects determine whether your opportunity fits with theirneeds is a great way to pre-qualify prospects. You don't want to give away somany details that you endanger confidentiality. But at the same time, the more detailsprospects have the better change you'll only be contacted by serious buyers. Understanding the nature of BuyersBuyers and sellers often share many of the samereasons for buying and sellingbusinesses. The buyer must be as serious about the sale as the seller whenit is time to make a transaction. Unless the buyer is serious, the sale willnot close. Buyers have a number of motivations for theirpurchases, including: Have been or soon will be laid off, fired or transferred from their current position. Taking early retirement voluntary or otherwise. Dissatisfied with current job. Want more control over their lives, to do my own thing. Snapshot of TypicalProfile The average individual considering buying a businessoften wants to replace a lost job or to exit an unfavorable work environment.Buyers are usually male, although a growing number of women are now becomingbusiness owners. Nearly half have less than $100,000 to invest in buying abusiness. Often at least part of their financial comes from personal savings orfamily members. The typical buyer has never owned a business before.Frequently, he or she will not end up in the type of business they originallyplanned. The typical buyer's main motivation for theirpurchase is changing their current life situation, such as underemployment,non-employment or job dissatisfaction. This person no longer wants to work forsomeone else, preferring to take charge of his or her own destiny. While a keyconcern, money is not their main concern, ranking possibly fourth or fifthoverall. The purchaser is needs to make a "leap of faith" to risk ofpurchasing and operating their own firm. Those going into business just for money are not frequently realistic buyersfor small businesses. A willing buyer demonstrates: Desire to buy a business. Need and urgency to become an owner. Adequate financial resources. Able to make one's own decisions. Reasonable expectations of the results of owning abusiness. Buyers' Questions Even before you decide to sell, consider who thebuyer may be, along with what he/she may want to know when considering buyingyour business. The following are typical questions you must be able to answer. How much money will the sale require? Have sales increased or decreased annually? By howmuch? How much inventory do you have? How much debt is attached to the firm? Will you remain after the sale for a transitionperiod? What makes your business unique? How do you obtain customers? By bidding for work?From repeat clients? How can I grow your business? How can I add value? How does economic stress affect your profits?Planning ahead to anticipatethe buyers and their issues will help you ensure a smooth sale.
THINGS,YOU,SHOULD,KNOW,WHEN,WR