Morgan & Westfield is not your average business broker. While traditional business brokers and business brokerage firms have always patterned their...
How to Sell a Business: Screen Buyers
Responding to Inquiries
Creating an effective response to buyers that gets results
- Our responses do not appear to be a template – they are written in simple, conversational language.
- Our responses include a brief one- to two-paragraph summary of the business (This is repeating what is in the ad; however, buyers need a refresher because they often are looking at multiple ads and may forget yours.) We also resell them on the business and persuade them to take the next step.
- We do not include forms to print, sign and fax – our NDA is electronic.
- Our responses thank the buyer for their time and acknowledge that the process is frustrating.
- We offer buyers multiple methods to contact us – phone, email, etc. We include our full name and contact information – this helps build a little trust and credibility.
- A good response is timely,; our responses are usually immediate (Our email system does this automatically.).
Most buyer inquiries come through email – This is because the sale of a business is confidential and the sites are set up so sellers can sell without disclosing their business name or contact information. Buyers must inquire through a web form. This also reduces telemarketing calls and weeds out 99% of spammers (unlike Craigslist). The sites are monitored by live human beings and they quickly block spammers.
What response rate do most sellers get after emailing a buyer back? From our feedback, we hear response rates of between 20-40%. Follow our advice and you should get an 80%+ response rate or over 3-4 times the average response rate.
Sample – How we respond to buyer inquiries
The reply below is done immediately so the response is sent within minutes of the initial buyer inquiry. This also ensures an extremely high response rate and very high follow through.
Thanks for looking at one of our businesses for sale. This is a company that makes a hot/cold pack for the head, hands, back and knees. They have been sold in major sporting goods stores in QVC, and there were negotiations to place them in Walgreens. The asking price includes a good portion of inventory and exclusive rights to the design and sale of the products. There are also other similar complimentary products that could be sold. The owner is in his mid 70’s and is highly motivated and looking to retire. The business can also be operated from anywhere in the world as the manufacturing is outsourced and the products can be drop-shipped.
We have a complete package available on this company that we can email you. In order to do so, we ask that you briefly sign our electronic NDA online at: http://www.morganandwestfield.com/bizforsale23423
The NDA takes less than a minute to complete and once we receive it, we will immediately email you the information. We understand that the process of buying a business can be extremely frustrating and we highly respect your time – we strive to make the process as quick and easy as possible.
Feel free to call us anytime if you have questions.
Morgan & Westfield Team