Finding a suitable business buyer involves checking funding, strategic fit and the ability to work together through any transition. Price matters, but payment certainty, handover expectations and the buyer’s plans should also inform the choice.
By Tony Vaughan · Published · Updated · Last reviewed
Selling your business for maximum value can be a long process and is fraught with potential pitfalls.
Trying to find a buyer for your business is not unlike trying to find a prince among a sea of frogs!
Handover arrangements vary: some allow a short transition, while others require longer involvement. Agree duties, duration and remuneration explicitly rather than assuming a handover of six months or more.
Finding a buyer that you can work with in a positive way is as important as getting the right price for your business and you’re going to have to kiss a lot of frogs before you find your prince!
Consider whether professional support is appropriate for your sale. Screen enquiries for funding, strategic interest and authority to proceed before committing substantial time or sharing sensitive information.
Objective screening can reduce time spent on unsuitable enquiries while you continue to run the business. Compare each credible buyer’s funding, plans and ability to work with you during any transition.
Broker fees and engagement terms vary and can materially affect net proceeds. Review how to choose a sale adviser and compare the full costs, scope and restrictions; then assess trade and financial buyers on their actual terms.
Common questions
How do I distinguish a credible buyer from a casual enquiry?
Ask about available funds, acquisition criteria, decision-makers and the intended timetable before sharing detailed confidential information.
Must I stay for six months after selling?
No. Handover requirements are negotiated and depend on the business, management team and buyer’s needs; there is no universal minimum.
Why does personal fit with the buyer matter?
If you will remain during a transition or earn-out, decision-making, responsibilities and communication can affect your experience and payment risk.
Should I choose a broker solely on the lowest fee?
No. Compare scope, relevant experience, buyer screening and contract terms alongside the full fee structure.
General information from our archive, not personal advice.
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