I would like to put my business up for sale, but I’m very concerned that if my employees find out they’ll all quit.  How do I keep this from happening?

Confidentiality is absolutely crucial when you are considering putting your business up for sale.  It is not only your staff discovering the potential sale that you need to be concerned about.  It can be devastating to your bottom line if your competitors, vendors and customers find out too.

Confidentiality needs to be in place throughout the business sale process.  It is not beyond the realm of possibility that a deal with a prospective buyer will fall through, and you will want protections in place that will keep that former buyer from disclosing your business status.  It may also happen that you decide not to sell after all.

How do you keep confidentiality in place?  Hire a business broker.

Only a broker can be an intermediary between you and potential buyers, and then only disclose your business to those who have signed the appropriate nondisclosure agreements.  If you have a competitor, you can even specify to your broker that those individuals not be told the business is for sale. It is your broker’s job to ensure confidentiality during the sale process, and their help with this aspect of the business transaction is essential.

Michael Monnot

941.518.7138
Mike@InfinityBusinessBrokers.com