Business Divestment - Marketing Plan
'A totally disciplined approach'
The secret for success in any undertaking is to start with a tried and proven plan, and then follow it through. At Lloyds Business Brokers, we have been successfully selling businesses just like yours now for over 30 years. Over this time, we have developed and perfected an approach which we can almost guarantee will lead to a successful sale.
In order to begin, we need to be clear about the answers to a number of critical questions:
1. Who will buy your Business?
We believe that the most beneficial buyer for a specialized business will be the person or organization with the most to gain from acquisition of your unique opportunity, who is looking for growth through acquisition. We need to determine at this stage whether this would be ideally a corporation, or a high net worth individual.
2. How will you find this buyer?
Years of experience in marketing specialised businesses have resulted in our developing our "Target marketing" approach. We favour a direct marketing campaign by selective competitive tender, seeking "expressions of interest", with no asking price disclosed.
3. How do we present our proposal?
We need to present this in a simple format of a "Business Profile", so that a prospective Purchaser, particularly if he is interstate or overseas, can see at one glance, enough information to induce him to climb onto an airplane to come and have a proper look.
In particular, we will need to prepare Budget forecasts to bring the true potential of your business, stressing the individual synergies to be gained for each potential purchaser, into the equation, as we will not be relying on past performance only to maximize the sales value.
The true art in what we do is to create value "on the run" to a particular buyer, by emphasizing for him the value he can add through his own expertise to your business, or to his own business through the acquisition of your business.
To bring some urgency into the selling process, we suggest a direct approach to all qualified prospects identified as a result of an Industry Search in such media as "Business Who's Who", the Internet, and our own prospects as a result of past search and marketing activities.
We would also recommend an indirect approach through over 4,750 Accountants, 1500 Private Equity Groups in Australia and 3500 Private Equity and Investors overseas on our Database, by way of a Buyer/Blast which they can circulate amongst their Clients. Many Accountants have a close relationship with their clients, and can recommend a suitable business opportunity when they come across one.
All of this can be backed up by some targeted advertising, perhaps in an Industry Magazine, and certainly in a specialist national newspaper, such as the "Financial Review, and International Exposure on a number of Industry Websites we have found to be very effective in the past, as well as National Exposure on our own and proven International Industry Websites.
4. How do we ensure the best possible price for your Business?
Most importantly, we need to make our target buyers compete with each other for the business, to ensure that the final offer is the highest offer possible from the buyer with the most to gain from owning your specialised business.
5. How much should we budget to ensure a successful outcome?
We believe the entire Marketing Programme can be achieved within a budget of 1% of expected value.
6. How long should the selling process take?
We also believe that through implementation of this plan, there is no reason why we can't have your business under offer within six months.
Read about steps to achieving a successful sale.