Who will buy my business?
In addition to the question, “How much is my business worth?” I often hear, “Who will buy my business?” from my seller clients. These 2 little but important questions are asked by all savvy business owners at some point in time.
At Creative Business Services, we maintain a healthy database of potential buyers in a wide range of industries/categories, and often find the buyer among them. Buyers of the businesses I’ve sold have come from a number of camps including corporate America, the competitors or vendors of my sellers, and investment groups. Sometimes, the perfect buyer is a partner, an employee or a relative of the seller. Other times, it’s a foreign or public company.
Some buyers are first-time business owners; others bring years of experience to the new operation. It’s hard to tell who the buyer of your business might be.
That’s why, as an M&A advisor, I go over these 2 important questions with each of my clients. I leave no stone unturned when looking for the perfect buyer for their business.