Buying A Business: Contacting Business Brokers
Stand Up amp; Be Noticed!
Everyday business brokers around the country receive thousands of emails and phone calls from people interested in a business for sale listing they saw on the Web or in the newspaper. The vast majority of the email or phone calls start off like this.
Please send me all of the financial information and exact location of the business
Im interested in the business for sale where is it why are they selling and send me the financials
I get these daily and cringe every time I read it or hear it. I respond politely with a short blurb on the business followed by a statement that I cannot provide the information being requested without a fully completed nondisclosure agreement knowing who you are and if your qualified to buy the business. If you live in the area make an appointment and go into the brokers office and talk.
Selling a business is not like selling a home; business brokers work confidentially and would be doing a huge disservice to sellers exposing their business to all that request this sensitive information.
If youre serious about buying a business then stand up and be noticed. If youre emailing the broker dont start out your email demanding information. Write about what interests you in the type of business your inquiring about stress your seriousness and need to buy. Talk a little about your means and how you plan to complete the deal.
I know what youre thinking I dont want to give too much information and lay all my cards out on the table. You dont need to just enough to show how serious you are. First off if you dont qualify yourself you will never learn more about the business anyway. Just because you make an enquiry on a particular business doesnt mean thats the right one for you. Share with the broker what your interests are what type of business you may enjoy and your experience. Most likely the broker will have several businesses that may meet your goals and interests.
If you dont hear back from a business broker on first contact give them a call and send them another email telling them you are following up on an email or previous phone call.
In Florida many brokerages will cobroker a listing with another broker outside of their company not every brokerage but a good number of them will. If you dont hear back from the broker you first contacted than speak to another and share with them the listing number and where you found the listing. They will be able to look it up and act on your behalf with the listing broker.
Distinguish yourself from the crowd of buyers find yourself a good broker and buy a great business.
What to provide in your communication with a broker:
Name
Address
Phone Number
Email Address
Listing Number and where you found the listing
A short blurb about yourself and your desire to buy a business
I wish you great success and happy times ahead.
About the writer: Jerry Gault is a business broker with The Legacy Venture Group in Riverview Florida Tampa Bay. http://www.GulfCoastBusiness.biz
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