“Upon advice from our broker, I must decline your request for your additional information.”
So wrote the owner of a business, who was previously described as a motivated seller. A prospective buyer has engaged me to help with preliminary due diligence and financial analysis. And I had sent their broker a list of a dozen or so items that would help.
When you are selling a business, there are no secrets. Repeat, there are no secrets. The only thing that can’t be explained is a failure to disclose.
Smart, sophisticated, serious buyers are going to ask for lots of details, and if you are going to have any chance of striking a deal, you better give it to them. Fast. Otherwise you only look like you are hiding something.
PLEASE LEAVE YOUR COMMENTS. I APPRECIATE THE FEEDBACK.