|
You may want to meet your potential buyer at an off-premises location before providing any confidential information. |
|
Keeping it Confidential |
|
When selling your business on your own you will want to follow four steps to protect your confidentiality.
1.Prepare Blind Ads and Listings. A blind ad is an advertisement that doesn’t disclose the identity of the business. A blind listing is a disguised description of the business a listing database.
2. Pre-qualify Prospective Buyers. Some prospective buyers who respond to business-for-sale ads are not qualified to purchase the business for reasons such as lacking the money or courage to move forward. Clearly you don’t want to present your firm to unqualified persons.
3. Register Prospective Buyers. Before providing information to prospective buyers, you will want them to sign a confidentiality agreement. You want to be sure that the potential buyer is real, not a competitor, and not an employee.
4. Release Information in Phases. You will provide information in phases being careful to not disclose your self storage’s identity and detailed operational information until you are confident that your potential buyer is actually serious about purchasing your business. |
|
Parker Burns & Co. |
|
Parker Burns & Co., Inc. 800.997.7966 Fax: 312.604.0813 Info@ParkerBurns.com
75 Milford Drive . Suite 106 L2 Hudson, Ohio 44236 |
