Different buyers are willing and can afford to pay different prices for the same business. In fact, it is not uncommon in a sale process for bids to vary some 200% from low bid to high bid.
As a business owner gears up for a sale understanding the universe of buyers should be near the top of the list. A recent article posted on Divestopedia.com titled “Know Your Buyer” takes a closer look at just how important this is. Knowing the different types of potential buyers when considering a business sale will give an owner insight into how to approach and appeal to the types of buyers they want to take over their company.
Different types of buyers will certainly have different motivations for doing a deal, each of which will result in a different outcome for a business owner. Knowing and understanding these buyers will help to ensure a successful transition of ownership to the best buyer available.