The value of a business drops once word that it is for sale hits the street. Employees, suppliers and customers get nervous.
Confidentiality ensures that information is accessible only to those authorized.
Until a deal is complete, it’s best to tell only your trusted professional advisers; even then you have to ensure they keep the transaction confidential.
Sunbelt brokers respect the need for confidentiality. They have protocols in place for advertising, disclosing information and handling buyers in order to protect the seller and their business.
Sunbelt can expose the opportunity to hundreds of prospective buyers without, employees, customers or a competitor knowing the business is for sale.
Advertising won’t specifically identify the business.
A more detailed business prospectus is only provided to qualified prospective buyers after a strict and detailed, legally enforceable non-disclosure agreement (NDA) has been signed. An NDA creates a confidential relationship between the parties to protect any type of confidential and proprietary information or trade secrets. It also prohibits the potential buyer from letting anyone know you are selling.
Meetings are facilitated between the business owners and buyers that are serious. Then, if the seller agrees, the buyer is given proprietary financial and operating information, including strengths, weaknesses, opportunities and threats facing the business, to make an informed decision about proceeding with an offer.
The shorter the time frame to sell a business, the less chance of word slipping out.