What today’s business buyer is looking for

What today’s business buyer is looking for

by Steve
In business, growth is an imperative, not an option. But only one in ten companies succeeds in achieving sustained, profitable growth. Growth strategy is at the heart of what we’ve done for more than 40 years.

Here’s a profile of today’s typical business buyer:

* 90% are first-time buyers

* Almost all are looking to replace a job (this is called “income substitution”)

* Most individual buyers have between $100,000 – $500,000 in liquid funds for a down payment

* Most corporate buyers have more than $1,000,000 available as a down payment

* Most buyers don’t have sufficient funds to pay all cash for a business

* Serious buyers have readily available funds

* Serious buyers can make their own decisions

* Serious buyers are flexible in the type and location of businesses to be considered

* Serious buyers have a realistic and sincere need (desire) to buy

* Serious buyers have a reasonably urgent (within 3-4 months) need to buy a business

* Serious buyers are cooperative and willing to listen

Steve Ferber

“As a seller you are looking for serious buyers not tire kickers. You want to know upfront if they have the funds available to close a transaction. If not there is no reason to waste your time. That’s where vetting a buyer early in the process, and a bit of intuition about buyers and people in general, come in handy”