Selling a business can be a very difficult thing, as well as finding qualified franchisees. That’s why BizON is here, to make this process easier and less frustrating.
We aim to stay committed to attracting qualified and interested buyers rather than “window shoppers” that are unqualified and waste time. Creating the perfect listing can sometimes be challenging since you must consider factors like confidentially, ensuring that employees, vendors, suppliers and competitors are not aware of the sale. Having a listing that only contains the most important pieces of information is vital when trying to attract qualified potential buyers. With that said, here are 5 reasons why your business-for-sale ad may not be getting any hits:
It Sounds Too Salesy/Pitchy
We often see listings filled with headlines like “AMAZING OPPORTUNITIES”, “CHEAP”, “BEST OFFER” etc. This type of language can turn off a potential buyer and implies you are anxious or desperate to sell. While it is okay to state the reason why you’re selling, you must be sure that the language you use in your listing still showcases the value of your business for sale while letting potential buyers know that the business is valuable.
Description is Too Long and Wordy
As easy as it is to use many words and phrases to describe your business for sale, it is just as easy for a potential buyer to lose interest while reading a “fluff” filled description. It is important to get right to the point of the listing while balancing important information and a little creativity to spike interest.
Financials State TBD
Financials that state TBD can definitely turn off a potential buyer. They want to know important financial details before wasting their time and yours. It’s okay to provide the financial information that BizON request for 2 reasons: 1) We are a confidential and login marketplace 2) The financial information required is not as sensitive as people may think! The goal is to sell your business – I think it’s important to always remind yourself of that. Also, a potential buyer wants to calculate the ROI (return on investment) on this potential acquisition. BizON has implemented a feature – “Annual ROI Calculator” (see below) for buyers to quickly calculate an annual ROI on a listing that they are interested in. If your financials are not available neither is the calculator, therefore, reducing the chances of a connection.
Having visually appealing photos that represent the business, even if they are purchased stock images can draw a ton of attention and more views on your listing. Having a crappy picture or BizON’s default icon logo can do the total opposite. Invest time to ensure you get the best images as possible.
Whether your business is overvalued or undervalued you can lose the confidence of a potential buyer. It is extremely important to ensure your asking price is realistic, competitive and backed by historical data that justified your selling price. If you need further guidance you can always engage in our free valuation calculator and benchmarking algorithm located in our grow section. This will allow you to valuate and benchmark your business or franchise for sale against other similar listings in your industry. If you are looking for professional help, we can also connect you with a Chartered Business Valuator.
Sell Your Business Like a Champ on BizON