To maximise the profit of selling a business, it’s important to find the right buyers. That means looking around for more than just one person that’s interested in purchasing the business, even if they are offering a seemingly good deal.
Multiple parties each vying for the sale of a business will compete with each other, if the interest in the business is big enough. This naturally increases the value of the business and gives buyers space to stretch their financial muscles.
Remember, before seeking any buyers it’s important that sellers consider a few factors. The first of which is if the business can actually be sold or not. There are many elements of a business that can make it a potential buy, for instance, a large and loyal customer base or long-term contracts with clients. It’s crucial to deeply asses every potential selling point, as knowledge of these can then be advertised to buyers.