Selling Your Business: Renovating Business Image
When looking to sell a business, there is some preliminary work that needs to happen before listing your business on the market. Taking simple steps can help attract more buyers and increase the value of your business. This article goes over in-depth steps to help prep your business to sell and improve the business’s curb appeal.
Peak Business Valuation, business appraiser Utah, works with sellers across the country helping them understand the value of their business. We seek to help sellers prepare to sell their business for maximum value. Questions are always welcome! Schedule a free consultation today!
Clean Up First Impressions
The first thing someone notices about a business is the presentation. This includes the employees, website, office buildings, or anything with the business logo on it. A business will be more sellable if its curb appeal is cleaned up. Here are a few ways to increase the probability of a positive first impression.
Online Appearance
What the internet says about your business will influence a potential buyer. The first thing a potential buyer will do when considering buying your company will be online research. Buyers will look at your website, reviews from customers, and talk to those who have had experience with your business. Taking the time to do that same research will help you understand the buyer’s perspective. To successfully sell a business, your online image needs to be clean, well kept, and professional. Not to mention, it can also increase the value of your business.
If your online image needs some updating, consider working with a website developer. Another way to boost online appearance is by listing your business on business sites in your industry and community. This will increase online visibility and increase traffic to your business, whether virtually or in person. For more ideas see The Value of SEO for your Business.
Marketing
Next, before selling your business you will want to review all your marketing materials.
- Ensure business logo is identical across the board on all marketing ads, merchandise, and business materials
- Always use the same colors and typestyle on all marketing material
- Display a consistent image in looks and quality on all business communications
- Polish up your website, make sure it is running free from glitches
- Update website to the easiest user format
- Update advertising and sales materials to match current styles
Most often, you don’t have much time to prepare when selling a business. While you might not be able to make every change you want, these simple steps can improve your professional image.
Office Space
Last, take a look at the office space.
- Organize a messy office space/location (consider hiring a professional crew if necessary)
- Repair damaged signs or displays that can detract from the overall experience of a potential buyer
- Improve landscaping and repair/update building image
- Add modern furnishings to the office space
- Create consistent employee dress – consider company-branded dress
First impressions are going to make or break it for a potential buyer. Simple updates will increase the appeal for potential buyers and increase the likelihood of selling your business.
Resolve and Repair Your Reputation
Reputation speaks louder than words. One of the best ways to gain feedback is to ask every customer to leave an objective google review. More often than not, unhappy people are more likely to leave a review than someone who has had a positive experience. While poor reviews are fairly normal for a business, it doesn’t look good, especially when trying to sell a business. Taking the time to correct such errors will greatly improve your company’s image. If wrongful things were said in a review, take action to get those removed or corrected. If the review was poor, yet truthful, take steps to correct what was wrong and resolve the customer’s issue. Positive experiences with customers will be your greatest asset.
Another way to showcase positive feedback is to find a spot on your website to display positive reviews. People want to know what others’ experiences are with a business they are interested in buying. Overcoming the negative and showcasing the positive will leave a refreshing taste in the consumer’s or soon-to-be buyer’s mouth.
Summary
Taking steps to refresh the face of your business will make the process of selling your business much easier. Make sure everything looks put together, presentable, and ready for a potential buyer. You would never buy a banana that is brown and smashed, nor would you buy a business that is unorganized, unkempt, and old-fashioned.
Peak Business Valuation, business appraiser Utah, helps businesses from all over understand the value of their company before selling. We are more than happy to answer any questions you have about selling a business. Feel free to reach out by scheduling your free consultation below.
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