One of the most important aspects of marketing a business for sale is creating a well-crafted online listing. After all, your goal is to attract qualified buyers. If you want them to spot your listing, after sifting through an overwhelming amount of online content, then you need to make it the best it can be.
A great deal can be learned about the business buyers and the way they behave online. According to BizBuySell’s latest demographic survey, business buyers are fairly sophisticated people; most are college educated and earn over $100,000 per year. Furthermore, online visitor engagement reveals that buyers are more likely to respond to listings with specific attributes.
What attracts buyers to a business-for-sale listing:
- The listing specifies a location. Over 90% of business buyers will search for a business by state and many of those will narrow their search by a specific county. Even listings that are marked as confidential receive more views when they included a location.
- The listing appears in their search category. Over a third of business buyers search by a specific category of business. Your listing is even more likely to be seen by buyers if you select two categories.
- The listing includes key financials. Asking price is the most important financial figure and cash flow is the second most important figure buyers expect to find. Key financials enable serious buyers to find your listing in a search and contact you.
- The listing has a headline that stands out. Listings that highlight unique selling points in their headline, such as ‘profitable pizzeria in busy shopping mall’, are more likely to capture a buyer’s attention than a headline that says, ‘popular restaurant’.
- The listing has a well-written description. The description should include all the essential facts, focusing on what makes the business stand out from the competition, its strengths and future potential. A listing that’s hyped up and leaves out important details has little credibility with serious buyers.
- The listing has an attractive photo. There should be a visual representation of the business, even if it’s a stock photo. Buyers are less likely to notice a listing without a photo, they're also less likely to contact the seller to learn more.
- The listing includes seller financing. One of the biggest obstacles to buying a business is financing. If the owner is willing to carry part of the financing, that’s a huge plus. According to many business brokers, seller-financed businesses are more likely to sell than those that are not.
- The listing has easy way to reach you. The buyer should receive a response from their inquiry within the first 24 hours. Serious buyers often get frustrated when sellers or brokers are slow to respond. A slow response can mean missing out on a great opportunity.
If you’re listing isn’t getting enough inquiries, then it may be time to make some improvements. If you face other challenges, such as a high sticker price or a highly competitive market, you may need to consider upgrading your listing to increase its exposure. Showcase Ads receive up to five times more leads than standard ads and include a prospect list of buyers who have opted in to receive information on businesses like yours.