You’re ready to sell your business.

You’ve spent years dreaming about this moment.

The perfect buyer reaches out to offer a deal you simply can’t turn down. Sounds ideal, right?

Unfortunately, this is not the norm and it’s common for business sellers to be unsure of what type of buyer is best, or how to attract them.

Attracting the best buyer for your business requires a solid game plan and careful research, but it’s worth the extra effort. Here are 4 steps to help you find the right buyer for your business…

Step 1: What do you want from the acquisition?

This is the very first question you should ask yourself. Do you want to sell your business and dive straight into another? Are you hoping to put your feet up and retire? Maybe you want to go travelling and start ticking off your bucket list?

You should also consider:

• How much do you want for your startup?

• When do you want to sell?

• What terms are negotiable/non-negotiable?

Going into the acquisition process without a clear idea of what you want is a recipe for disaster. No founder wants to waste time and money on a failed M&A deal, so have your acquisition goals set from day one.

Step 2: Who is your ideal buyer?

Now it’s time to consider what type of buyer is right for your business. You have three options: strategic buyers, financial buyers, and individual buyers.

1. Strategic business buyers: Usually small or medium-sized businesses looking to acquire other companies within a similar industry to achieve synergies.

2. Financial business buyers: Tend to be private equity firms that want to acquire high-potential businesses to generate a high return for investors.

3. Individual business buyers: Typically high-net-worth individuals who are looking to acquire a business to gain more freedom and build wealth.

Why does the type of business buyer matter? A buyer is a buyer, right? Sure, it might be easier to accept the first offer that comes your way, but choosing the right buyer is crucial.

Why? Because different buyers have different needs, goals, and motivations. Understanding these will help you attract the right business buyer and improve your chances of acquisition success.

If you want to find out more, check out: 3 Types of Business Buyers & How to Attract Them

Step 3: Need help attracting the best buyer for your business?

Let’s be real. Navigating the M&A process can seem like an uphill battle, especially if you haven’t done it before. Simple errors can lead to costly mistakes or destroy a deal altogether.

The good news is that there is plenty of help available  — this is where M&A advisors come in.

An M&A advisor can support you at every step of the acquisition process…

• Valuing your startup

• Marketing your business

• Finding the right buyer

• Negotiating acquisition deals

• Preparing for sale

And lots more! Lucky for you, Foundy has just launched an M&A advisor directory. It’s the easiest way to find an affordable advisor that suits your needs and goals.

Step 4: Where are you going to advertise your business?

You have three main options when it comes to selling your business: privately, through a broker, or using a selling platform.

1. Privately: Selling your business privately is the cheapest option, but it will require a lot more time and effort on your part.

2. Broker: A business broker can help you attract more buyers to your business and manage the acquisition process for you. However, they typically take a commission fee of between 7 and 15% which can be a huge amount of money depending on the sale price.

3. Selling platform: Marketplaces like Foundy have revolutionised the M&A market and made selling a business quicker, easier, and more cost-effective. It is the perfect middle ground!

Let us find you the right buyer for your business.

If you’re considering selling your startup, Foundy can help. Our platform is one of the UK and Europe’s fastest-growing marketplaces for buying and selling online businesses. After some pretty lengthy and needlessly-complicated personal acquisition experiences, the Foundy team came together to change how mergers and acquisitions work for good. By joining our growing community of business owners and acquirers, you can get your business in front of vetted potential buyers and complete the sale of your business in as little as a month.

Create a free account today to create your anonymous business listing and start receiving offers.

If you're in the process of growing your business towards a funding round or an acquisition, clients have repeatedly recommended utilising a portal. It starts with a free business valuation. This will help you and our M&A advisors understand your company's current position and the necessary steps to position yourself for a successful sale. Foundy factors in over 29 key elements that contribute to your business valuation, ensuring a comprehensive and accurate assessment.

Similarly, if you're a buyer, Foundy's M&A advisors can help you find your next acquisition and streamline your end to end process via an all in one portal.

Ready to discover your business's value?

Running a business and deciding to sell or acquire another can feel like having two full-time jobs. While some business owners thrive on the excitement of buying and selling on their own, many, including myself, benefit from collaborating with experts who bring more sector specific experience. However, it’s important to note that working with M&A advisors is not a one-size-fits-all solution. Hence why we built our advanced portal and Find An Advisor programme to empower you with the tools, education and relevant expert support to help you navigate the end-to-end process and secure a higher valuation.

Check out the free calculator on our pricing page, which shows you the six to seven figures in additional share value Foundy can provide your business.

No matter where you are on your business journey, connect with Foundy to access the resources needed for a smoother acquisition or sale process.