Selling a business? Beware of Window Shoppers - Business Brokers Southern California 1-800-BIZ-BROKER

Couple Window Shopping

When you are a business owner, you learn to tolerate the window shoppers. They come in, look around for a while, ask a few questions, and then leave empty handed. Sometimes you have repeat window shoppers that come often, but may never purchase anything from you. However, you learn to appreciate them because they may provide positive feedback to another potential customer, or give a good referral. It comes with the territory, and there is usually no harm in accommodating a window shopper. However, when it comes to selling a business, these types of so-called buyers are not ones you want to accommodate. You want to avoid them at all costs, because in the end it will cost you valuable time and potential money.

Surprisingly, some people make it a hobby to look at businesses for sale, with no intention of buying. They ask intelligent questions, maybe even show a financial statement that suggests they have the resources needed to purchase the business. Sometimes they will even go as far as stating an interest in making an offer. But once bored with learning about one kind of business, the so-called buyer will move on to something else. The seller, who spent time and opened his books to a pretend buyer, will get nothing but a sense of confusion as to why the buyer disappeared, and disappointment that no sale resulted from their time and effort.

More dangerous than phony buyers are those who want to purchase a business, but not the way the owner wants to sell it. These leverage artists go out of their way to impress and charm a seller- perhaps with dinner meetings, and repeatedly complimenting an owner on the state of the business. However, the only deal they are interested in making is one that enables them to “try out” or “lease” a business, or purchase it with no money down. People like this may claim to be financially qualified, and in fact may be, but their objective is to buy a business with the owner’s money.

It is important that a seller avoid accommodating an unqualified buyer, simply because it will never lead to a sale. However it may be very difficult for a business owner to identify the window shoppers and unqualified buyers from the serious and qualified buyers. A professional business broker has expertise in not only identifying qualified buyers, but also access to a pool of potential buyers that are right for you and your business. Consulting with a broker can save you not only a considerable amount of time and aggravation, but also get you the best possible price for your business. For more information on how a business broker in Riverside can help you, contact one of the professional business brokers by calling 1-800-BIZ-BROKER or by visiting www.1800bizbroker.com.


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