Business and Life

Stand Up & Be Noticed!

Everyday business brokers around the country receive thousands of emails and phone calls from people interested in a business for sale listing they saw on the Web or in the newspaper. The vast majority of the email or phone calls start off like this.

“Please send me all of the financial information and exact location of the business”

“I’m interested in the business for sale, where is it, why are they selling and send me the financials”

I get these daily and cringe every time I read it or hear it.  I respond politely with a short blurb on the business followed by a statement that I cannot provide the information being requested without a fully completed non-disclosure agreement, knowing who you are and if your qualified to buy the business. If you live in the area, make an appointment and go into the brokers office and talk.

Selling a business is not like selling a home; business brokers work confidentially and would be doing a huge disservice to sellers exposing their business to all that request this sensitive information.

If you’re serious about buying a business then stand up and be noticed.  If you’re emailing the broker, don’t start out your email demanding information. Write about what interests you in the type of business your inquiring about, stress your seriousness and need to buy. Talk a little about your means, and how you plan to complete the deal.

I know what you’re thinking, I don’t want to give too much information and lay all my cards out on the table.  You don’t need to, just enough to show how serious you are.  First off, if you don’t “qualify” yourself you will never learn more about the business anyway. Just because you make an enquiry on a particular business doesn’t mean that’s the right one for you. Share with the broker what your interests are, what type of business you may enjoy, and your experience. Most likely the broker will have several businesses that may meet your goals and interests.

If you don’t hear back from a business broker on first contact, give them a call and send them another email telling them you are following up on an email or previous phone call.

In Florida, many brokerages will co-broker a listing with another broker outside of their company, not every brokerage but a good number of them will. If you don’t hear back from the broker you first contacted than speak to another and share with them the listing number and where you found the listing. They will be able to look it up and act on your behalf with the listing broker.
Distinguish yourself from the crowd of buyers, find yourself a good broker and buy a great business.

What to provide in your communication with a broker:
•    Name
•    Address
•    Phone Number
•    Email Address
•    Listing Number and where you found the listing
•    A short blurb about yourself and your desire to buy a business


I wish you great success and happy times ahead.

Jerry Gault is a business broker with The Legacy Venture Group in Riverview, Florida (Tampa Bay). http://www.GulfCoastBusiness.biz

Article Source: ArticlesBase.com - Buying a Business: Contacting Business Brokers…