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6 Tips for Crafting a Compelling Listing for the Sale of Your Business
6 Tips for Crafting a Compelling Listing for the Sale of Your Business
Crafting an online listing for the sale of your business is a crucial step in the selling process. While the task may seem challenging at first, keep in mind that a successful listing will give you a chance to draw in the right buyers, maximizing profits from your business's sale.
Here are 6 tips on how to create a successful listing for the sale of your business.
Be specific and precise with your listing.
Before creating your listing, it's critical to consider what a potential buyer will gain in value from purchasing your business. Putting yourself in your buyer's shoes and tailoring your listing to their specific needs is the most important piece to think about when crafting your listing.
With this information in mind, recognize that your business listing is the wrong time to be generic and vague. Instead, your listing should be descriptive, concise, compelling, and free from errors. You should also clearly describe what your business does.
Here are a few key factors to consider when beginning to write your listing:
Stick to the essential facts and figures, weeding out fluff or unnecessary jargon.
Consider including awards and certifications.
Focus on your strengths and potential for growth.
Include why you're selling as buyers appreciate honesty, and this helps to incorporate trust.
Keep confidentiality in mind as you describe your business.
The more detail you can use to explain your business, the more likely it is to grab the attention of the right buyer.
Include your business's location.
Stating the exact location of your business can be complex for confidentiality reasons. However, this information should be considered. Most buyers will be searching for businesses in specific areas, and by omitting this information, you may eliminate your listing from showing up in the search.
Here are a couple of ways you can successfully describe your business's geographic location without giving away its exact identity:
List the state and county where your business is located, thereby omitting the city name.
List the general metropolitan area where your business is located, such as "Bay Area" or "Northern California."
Include attractive identifiers in the description, such as "located next to a busy shopping mall."
Highlight your business's strengths.
Because business listings are short and to the point, showcasing your business's strengths and potential for growth is vital. Doing so will pique the interest of the prospective buyers you're needing to reach.
Here are a few key factors to include in your business listing to highlight your business's benefits:
Hone in on what makes your business unique and list your Unique Selling Propositions (or USPs)
To help buyers understand how established your business is, include how long you've been in business.
List assets that are included with the asking price.
Emphasize any features that would allow for a smooth transition to the next owner, such as your existing strong customer base and your business's outlook for the future.
Keep in mind that potential buyers are considering all the risks included with purchasing a business. What benefits can you include on your listing that will help alleviate some of their perceived risks?
Include key financials.
Potential buyers are looking to make a wise and sound investment, so they will want to see some key financial data when searching for the right business to buy. Including this information on your listing can encourage potential buyers to inquire further about purchasing your business, and increase the views of your listing.
Here are a few key financial factors to consider including in your listing:
Annual revenue
Gross sales
Number of employees
Lease information or rent
Listing price
Cash flow
The cash flow and listing price are essential to include on a business listing because these numbers help a potential buyer visualize and calculate how long it could take to earn back their investment from purchasing your business.
Create a strong, attention-grabbing listing title.
The headline of your listing is the first thing a potential buyer will see as they search. The title needs to stand out from the other listings and attract the right buyers. How can you ensure your headline is strong and motivates the buyer to click on the listing to learn more?
Like your listing, your headline should be specific and written with the buyer in mind. When putting together a listing title, think about these factors:
What features are beneficial to possible buyers?
What is your business's greatest strength, and how can this be included in the listing?
What attributes about your business could spark buyer interest?
Can your location be included in the listing to attract the right buyer?
Incorporate Photos.
Including an image with your listing can help prospective buyers visualize your business better. Here are a few ways you can find the best photo for your listing:
Avoid taking a photo of the front of your business if you need to keep your sale confidential.
Choose a well-organized room or an area of your business to photograph that displays what you do without giving away the company identity.
Consider including an image that highlights a specific attribute of your business.
If taking a photo of your business is not an option for confidentiality reasons, use more generic stock photos.
Make sure the photos you chose are clear and professional. A fuzzy and pixelated image can turn buyers away, whereas a high-quality photo can portray a thriving business.
Need help?
Creating a listing for the sale of your business can be challenging, but well worth the work. A compelling listing can bring the right buyer to you. Ready to create a listing for the sale of your business? Contact us today for a free consultation.