Selling your business puts you in a dilemma. On the one hand, you need to advertise to those who might be interested in buying it. On the other, you need to keep your intentions completely private, so news of a sale doesn’t damage your business.
How do you walk that tightrope?
The answer is that you choose to work with the right business broker. When you work with Murphy Business, we will keep everything about your transaction strictly confidential until you close the deal.
Why Privacy Matters
A change of ownership in a company is a big deal. If word leaks that a business is for sale, it can impact every relationship your company has for the worse.
Employees may leave, which can change the talent level of your company and may cause the value to drop. Customers and suppliers may worry that your business is in trouble and stop doing business with you. Creditors may charge higher interest because of the perception of an increase in risk.
All of this can negatively impact the value of your company and may make it hard to continue being in business at all. You definitely do not want the news of your sale going public too soon.
How to Maintain Confidentiality
What steps can you take to protect yourself as you look for a buyer? First, be sure that you don’t tell anyone who doesn’t absolutely need to know.
Second, be sure the companies you talk to are genuinely interested. The best way to do this is to work with an experienced broker. They can gauge interest while keeping your actual identity hidden, and only move forward with those who have the interest and ability to buy the company.
Finally, be sure to protect yourself with a Confidentiality and Nondisclosure Agreement, which will impose penalties and provide remedies if anything leaks information.
Work With a Broker Committed to Privacy
When you choose Murphy Business, you can have rest assured that your privacy will be secure. We know how to avoid revealing your business’ identity while marketing the company. Even as the process moves forward, information is only shared on a “need to know” basis.
We’re committed to providing our clients with the highest level of service. If you’d like to experience the Murphy Business difference, contact us today.
Simon Paine is the Managing Partner & a Business Broker at Murphy Business Sales – Charlotte. If you are thinking of Buying or Selling a Business, or just interested in a chat about exit planning and the business transaction process – Call on (704)-804-5071 or email s.*****@mu************.com
You can find more articles and advice at murphybusiness.com/charlotte
Murphy Business Sales – Charlotte also serves Harrisburg, Gastonia, Concord, Huntersville, Mt. Holly, Clover, Pineville, Matthews, Indian Trail, Rock Hill, and Monroe.