Many business owners can’t understand why their company hasn’t sold when they’ve received so many inquiries from buyers. The reality is that most buyers are just browsing. Some are considering a purchase but aren’t ready to pull the trigger. Others dream of buying an ambulance business for sale, but lack the funds needed to make it happen. Sometimes “buyers” may actually be nosy competitors sniffing around for information. In any case, unqualified buyers waste time and energy that would be better spent on the real deal. Here are some tips for telling true buyers from tire kickers.
Without money, a sale is dead in the water. Many window shoppers will waste time haggling with sellers over price without presenting any proof of funds. Buyers who drop low-ball offers on fairly-priced companies usually do so because they don’t have the money, don’t understand business value, or a combination of the two. A serious buyer will either have the funds ready to go or be willing and able to secure the financing necessary to make the deal happen. At the same time, serious buyers are usually less concerned with the money than with the benefits your medical transportation business has to offer. When you provide data to back up your valuation, real buyers won’t balk.
Many investors are first-time business buyers, especially in transactions involving small businesses. But while it’s not necessary for a buyer to have ambulance business experience, they should at least have an understanding of the market. Though a buyer may be flexible about the type of business they are seeking, it should be obvious that they are committed to making a purchase. You don’t want to begin the sales process only to have the buyer walk out when it becomes apparent that running a company is hard work.
There’s no need to rush a deal, but you don’t want buyers who will drag their feet, either. An unmotivated buyer will waste months nitpicking over price, terms, and the minutest of details, only to bail out in the end when they can’t justify making the necessary leap of faith to buy a medical transportation business for sale. A serious buyer will want to get the ball rolling.
A motivated buyer has clearly-defined goals. Maybe they need to earn a certain return on their investment to replace their current job. Perhaps they already own an ambulance business and are looking to buy a medical transportation company in order to reach a new market or upgrade equipment. Whatever their objectives, serious buyers know what they want – and they have the savvy to quickly tell whether your transportation business fits the bill.
What if every buyer who came your way was a serious one? Transportation business brokers pre-qualify interested parties, saving sellers time, money, and frustration. Additionally, an expert intermediary with contacts in the industry can increase the pool of prospective buyers by targeting specific qualified investors. Some of the most successful sales are made to strategic buyers who were not even in the market for a purchase, but were contacted by a broker and convinced of the company’s value. As a business owner, you don’t have time to waste on buyers who can’t commit. An industry professional can line up the best buyers for your ambulance business while you concentrate on keeping your company running smoothly.