If you are planning to sell your business, it is quite obvious for you to come across the question, who can buy my business. The answer to this question depends on various factors, such as the location of your business, the sector in which your business operates, the turnover etc. There could be several types of buyers who might be able to buy your business.
- If your business has a local competitor and if acquiring your business gives him an edge / monopoly, he / she may purchase your business for this benefit.
- It could be someone who may or may not have business experience and is planning to enter this industry.
- It could be a large corporation / chain which is looking to expand in your geography and you may be a good target.To sell a business quickly the business owner may also consider 1. Selling the business to a group of employees who are highly motivated and remain passionate about the business. 2. Tap existing professional & personal network. 3. Liquidating the assets. 4. Existing business partner’s willingness to own 100% stake can also be explored.