Business Broker Lakeside – How to Keep Your Business Sale Confidential

Some businesses like historic landmarks and famous establishments can benefit from announcing publicly that they are for sale. Others, such as your business, need to maintain confidentiality all through. This is because when your clients, employees and suppliers learn that you are selling they might abandon ship for fear of the uncertain future. If they leave, the value of your business will nosedive. It is for this reason that a business broker Lakesidewill do everything in their power to keep the sale a secret until the last minute.

If you are ready to sell, there are a couple of things you may have to do to keep the sale a secret. Here are the key steps you should take to ensure confidentiality when selling your company.

Prepare NDAs in Advance

To keep potential buyers from sharing the information you discuss with them, you need to present them with a non-disclosure agreement (NDA). A business broker Lakeside will be happy to draft for you a foolproof NDA. The broker will also be able to market your business for sale without sharing specific information about its identity. Once buyers sign an NDA, they will be barred by law from sharing any information you share with them.

Use Blind Ads

Another way of keeping the sale confidential is using blind ads. When marketing your business, you must never share your personal contact information or the name of your company when advertising it for sale. Personal information can be revealed after obtaining confidentiality commitments. With a blind ad, you should focus on the strengths of the business and not its name. You also need a separate email account and not your business email. When placing an add using traditional print media, use media-provided P.O. Box.

As aforementioned, a business broker in San Diego is better equipped to market your business without revealing its name. Even after meeting potential buyers, the broker is not in any way associated with your business. Potential buyers will thus not connect the ad with you.

Prequalify Buyers

One of the best ways of ensuring the sale never leaks is screening potential buyers. Not every buyer that comes knocking is serious about buying your business. Some are only interested in learning your trade secrets. A business broker Lakeside will be able to screen potential buyers thoroughly and only let qualified buyers through.

Get a Signed Letter of Intent

Disclosing information about your business is something you should do in phases. Even after a buyer signs an NDA, you must never share proprietary information with them. To give additional information, the buyer must demonstrate their purchase ability as well as their intent to make an offer.

There are many more things you should do to ensure the sale remains confidential. Working with a business broker Lakeside is the best option. The broker has sold many businesses similar to yours and will be able to keep the sale confidential and get you the best possible deal.

Business Broker Lakeside

What Client’s Say

We Couldn’t Be Happier

"When we thought about selling we had no idea what our business was worth or how to go about selling. What you were able to do was to cut through the fog so that we understood the valuation issue and had a comfort level with the process. As you know we ended up selling for somewhat more than the original valuation and we got all cash and our CPA loved the way our tax liability was minimized. We couldn’t be happier!"

Over $250,000 More

"Our first contact with you shocked us when you suggested that we wait 18 months before selling because you believed that if we hit our projections that the value would be significantly greater. As it turned out we not only followed your advice but also got slightly over $250,000 more than we originally had hoped for. It is seldom that we have had the opportunity to deal with a firm that doesn’t want both money and a commitment NOW. It was clear and obvious that you had our best interests at heart."

You Got the Valuation We Agreed On

"You did a great job on the sale of our business in really beating the bushes for buyers, including a UK company that was an active suitor. You managed to get the valuation that we had all agreed upon and got it substantially all in cash and got the transaction closed with little to no problems or expensive lawyers involved."

Thank You for Handling Our Business

"Our business was smaller than what your firm normally handles but it was a BIG part of our net worth and savings. Thank you for handling our business and we were very pleased and delighted with the results."

More Than Anticipated

"Our transaction was involved as we had different corporate entities located in different states. Our only regret is that we didn’t retain your services before 2012 when we paid $25,000 to a firm in Texas that did a valuation and market analysis for us before then failing to do anything in the way of trying to sell our business. You got it sold for more than anticipated."

Prepare NDAs in Advance

Use Blind Ads

Prequalify Buyers

Get a Signed Letter of Intent

The Sales Process