Now that you’ve decided to put up a listing for your business, you’ll want to make sure you receive the best price for your listing. After all the hard work you’ve put into your business, it’s important to make sure you share that work and success with potential buyers. On Exchange, there are thousands of buyers, but also thousands of listings. Let’s explore how you can make your listing stand out and share your store as best as you can to find the right buyer.
Include as much information as you can about your business
The Exchange suggested valuation is only as accurate as the information you provide to it. Without sharing certain information, we aren’t able to use that information in our calculation and may be missing key parts.
For businesses of any size, more complete listings will result in more pageviews, which in turn will result in more messages with potential buyers.
Buyers are up to 3x more likely to contact you if your listing contains around 1000 words about your business.
We suggest including at least 500 words about your business, but serious buyers are looking for serious sellers so taking the time to write about your listing shows you’ve put effort into the listing.
Share your story
Behind every business is more than numbers and statistics, it is an entrepreneur who has struggled and learned a tremendous amount to reach to the point they are currently at. Sharing your story can be very inspiring and help to demonstrate why the business exists. If you’re looking for someone else to have the same values and goals with the business into the future make sure to share these stories.
The story of founding the business from the past is just as important as the story of where you currently are. Why have you decided to sell this business? If you have a personal life event, didn’t have the right skillset, or the timing wasn’t right these things are all things that buyers understand and respect. Sharing why you came to this decision is very helpful to buyers to decide if this business is right for them.
Be upfront about the state of the business
Some information may not be positive, and you may be tempted only to include the information which paints the business in a positive light, but through further conversation with a buyer the state of the business will become apparent. Save yourself and the buyer time by sharing the positive and negative aspects of the business. This will increase trust in potential buyers as no business is truly perfect.
Include additional assets that are valuable
Certain parts of your business you may take for granted are very valuable to a new business owner.
Here’s are some examples:
- Manuals or guides about common business processes or operations. The daily and weekly tasks to run your business may be second nature to you, but to a new business owner they will be learning or figuring them out for the first time.
- Domain names, social media handles, or other digital assets. The value of these assets is captured by the revenue of your business since these are used to generate revenue, however, should still be explicitly listed.
- Any agreements that are exclusive to the business. If you have supplier agreements or exclusive rights to distribute a product, these are great things to include in the listing.
List future growth opportunities
A potential buyer wants to know not only where the business is, but where the business can go in the future. Share areas of potential future expansion from product categories to new markets.
Have you thought of expanding the business internationally to another market? If you are selling women’s shoes, could the company also start selling men’s shoes?
There may have some initiatives that you weren’t able to successfully execute that a new business owner might have better success at.
Looking for more tips and advice to increase your listing views? Check out our help centre article for what to include in your listing.