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    Tenerife Business » Useful Information » Selling a Business in Tenerife » How to get your Tenerife business SOLD
Updated: 30-03-2010

 

How to get your Tenerife business SOLD!

If you’re serious about selling your Tenerife business, then good of preparation will not only get buyers to your door, but it will also raise your chances of selling when they enquire. Prepare now and your sale will go through smoothly. Leave it to the last minute and even the smallest delay may lose your buyers attention... and they’ll buy the business next door instead!


1. Prepare your Business Info Pack

If a buyer enquires about your bar, you need the information ready right away. Don’t expect a buyer to wait patiently while you hunt for the relevant documents. You’ll lose them. You need a good Tenerife Business Sales Information Pack prepared and ready to give to buyers while your business is still hot in their mind! Delays can only make them cool off.


2. Price it Right for the Market

We’re in a recession and business buyers know it, so if your business is priced over buyer expectations you simply will not receive any enquiries. It is natural to feel that you should build in some negotiating margin, but if that is at the expense of generating any buyer interest it is not a strategy that will serve you well. Dropping the price a few months later to meet the market generally elicits one of two responses: either buyers sense that you are desperate and make an insultingly low offer, or they will suspect the business is a lame duck and make no offer at all. Before you decide finally on a price, talk to your accountant and your Tenerife Business sales agent, who will be able to give you a good idea of market expectations.


3. A Picture is worth a Thousand Words!

Pictures tell a story about your business and it is imperative that they show it off in the best light possible. As buyers trawl through listings of businesses, it is the picture that makes them read more. Good photos treble or even quadruple the number of times your business is viewed. It may seem a minor detail, but some excellent businesses receive few enquiries and are totally ignored by buyers simply because their photographs are bad. When pictures are to be taken, clean up, remove clutter and let the photo attract the buyers, not put them off.

Remember, your business is in competition with many others. There are hundreds of Tenerife bars for sale, restaurants and other businesses. If yours does not stand out from the crowd, you’ll be waiting a long time to find a buyer.

 

By Irina Saltmarsh


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