A major part of selling your business is getting the word out. After all, the more people that know your business is for sale, the better off you’ll be. Bob House, the president of BizBuySell, recently described how a well-written business-for-sale advertisement could attract higher offers from real buyers. His article for Inc. magazine, “How to Create an Effective Business for Sale Ad and Ensure It Gets the Best Result, ” offered tips on creating a listing that should attract stronger offers from more serious buyers while maximizing exposure.
Getting the Word Out
As House wisely points out, many sellers wait until the last second create a good sales ad. Unfortunately, many sellers fail to grasp the real importance of creating a quality and compelling advertisement. Imagine creating a good sales ad like you would going fishing with a group of friends. The more friends you have on your fishing trip, the greater the odds that someone catches a fish. In much the same way, the more people who know you are selling your business, the greater the chances that you’ll get some serious “bites.”
Tips for Receiving More Attention
Topping the list of five key tips for your sales ad: be descriptive. Your sales ad should give an excellent description of your business and its unique features. “If you provide only limited details, prospective buyers might lose interest or assume you have something to hide,” writes House. In other words, now is not the time for mystery. “Paint a clear picture of where the business is, where it’s going and what the buyer can expect upon purchasing,” he recommends.
To grab a prospective buyer, your headline should be “punchy, eye-catching and informative.” People have always skimmed, but the rise of the Internet has taken skimming to a whole new level. Your headline should capture people’s attention. Determine what your business’s best feature is and emphasize that feature in your headline.
Incorporate Top-Notch Images
Just as a great headline will capture people’s attention, a great picture will get prospective clients to read your ad. Consider having a professional photographer take the photo, as he or she may have tips to make your business look its best that you may simply not know. If confidentiality prevents you from taking pictures of the business, consider good quality stock photos. Websites such as Pexels are great resources for free stock photos.
Your ad should definitely include key financials such as balance sheets and cash flow and income statements. Any serious buyer will be very concerned, if not obsessed, with your financials. Many potential buyers will focus their business searches around these key financial metrics, and they will be suspicious if you omit them.
Don’t Forget the Final Step: PROOFREAD!
Finally, if there has ever been a time in your life to proofread, this is the time. In fact, you should consider hiring a proofreader to look over your ad for grammar and spelling mistakes. As House notes, you want prospective buyers to realize that you are detail-oriented and responsible. A simple grammar or spelling mistake could wreck a potential deal.
Creating a great sales ad is an art form. One of the best ways to ensure that you have a great sales ad is to work with an experienced business broker. Business brokers know what buyers are looking for, have great marketing professionals at their disposal, and can help you frame your business in the best light possible.