We screen potential buyers cautiously to ensure your information remains private…
Maintaining the confidentiality of a client’s business sale is of utmost importance to us. When vendors, customers, or employees know the business is for sale, there could be potential damage done to the business. Additionally, sellers want to minimize the risk of their business information falling into the hands of a competitor. Because of these considerations, we make maintaining client confidentiality a top priority.
Our first step in maintaining the confidentiality of the sale is to create a blind profile about the business. The blind profile – so named because it keeps the identity of the business anonymous – is intended to give buyers basic information about the business, piquing their curiosity. The report is vague so as not to give away the identity of the business to the buyer. The seller will grant approval of the blind profile before it is marketed.
Prospective buyers who are interested in learning more about the blind profile are asked to sign a non-disclosure agreement. The buyer is then asked to provide information regarding his/her background and their financial situation. This information allows us to be efficient in the use of our clients’ time by determining the likelihood of the buyer proceeding.
An additional value to using an intermediary is the presence of a third party to maintain the barrier between the business identity and buyer until the buyer is qualified and signs a confidentiality agreement.