How to sell or buy business quickly and at the best price is the biggest challenge faced by small and medium entrepreneurs in India. Selling or buying a business is a sensitive issue and needs careful ground work without proper information and knowledge. Also to find the genuine and serious buyers or sellers is a tedious task.
The traditional approach is to advertise in the newspapers or in trade magazines or take help of professional consultants. However both these approaches are costly while former’s response is question mark and short lived while later is expensive as professionals charge huge commission or retainer fees.
Since last few years, there is a trend of taking help of classified websites where you can post your business buy or sell listings. Since most of the classified websites are free and does not target specific regions, you will find irrelevant advertisements or junk listings are posted on these websites. If you tend to post your need on as many websites for free to get the responses, it will harm you significantly, as it looks desperateness on your part. This is a big NO. Smart sellers and buyers can identify your similar listings and negotiate hard with you, thus results in to very low offering to your selling and very high offering to your buying listings. On free websites normally you will find listings of businesses who just need to find out what their business current market offering – not seriously decided. This will kill your valuable time, energy and resources if you keep on trying on free listing websites.
Off late, another medium tried out is Social media postings on LinkedIn, Facebook or Twitter. We have seen lots of consultants too, post their client business for sale and buy as they cannot find from their own sources and still charge money from it. If you do on your own it becomes open and does not remain confidential. If you post yourself on social media to sell your business, your information is immediately revealed in social domain. Also, there are no or less proofs available to establish that any deal materialized on social media. Instead, you will be bombarded with offering from consultants available on Social Media, to help you sell or buy business at fees.
What should you do now? While selling business online, you need to carefully choose a place (website or online service) where you can find serious and genuine buyers and sellers, and able to protect your personal information. You should not post on every free classified website and term yourself as desperate, where buyer or seller later try to exploit you. You also need to make sure that your advertisement is on a website which focuses India market only. You also need to find if all the buying or selling listings are vetted (scrutinized or examined) before it is published – this will help you to find genuine and serious buyers. You also need to ensure that they provide you all the vital resources like due diligence process requirements, professional presentation templates, off line support etc – as you are not merger and acquisition expert, but you need good help. If you find such service, even if you have to pay small amount of fees to advertise your listings, you will be able to sell or buy business quickly, cost effectively and at right price. For example, Indiabizforsale.com offers such service and support to Indian businesses or investors who wants to sell business in India or Buy business in India.