THE BUYER MEETING


A successful buyer-seller meeting is very important to a business sale. It gives the buyer a chance to get comfortable with you and the business, and it gives you a chance to check out the buyer. Here are some tips on how to have the best meeting.
  1. Do not meet with a prospective buyer without a Business Resource Center associate present
  2. Do not discuss price and terms with a prospective buyer - this could seriously hurt your negotiating position.
  3. Do not discuss the brokerage fee.
  4. Be positive about your business.
  5. Discuss the good points of your business and its potential.
  6. Explain the operation of your business and concentrate on its unique features.
  7. Be enthusiastic!
  8. Allow the buyer to ask questions. They usually have several.
  9. Do not hand over your financial records unless the meeting was set for that purpose and your Business Resource Center associate is present. Accountants for you and/or the buyer might be present.
  10. If the buyer comes back or calls later to ask more questions, ask them to call us. We will get the answers for them.
  11. Try not to give the impression that only you can run the business - you'll scare off the purchaser!
  12. Be sure to explain your reason for sale in a positive manner.