How to compose an effective buyer’s profile
You are evaluating the option to take over an existing business or adopting the growing through acquisitions strategy, good! After all, as an individual it may save you a few years of learning curve to get and as a business owner it might be cheaper than starting from scratch.
In order to highlight your interest through a profile on Gobex.co, here are some relevant facts we strongly suggest to include. It’s important to know that not all owners wanting to sell their company are displaying it to all, but it doesn’t stop them to look over profiles on Gobex.co! That’s why a well detailed profile will maximize your chances of finding a match.
Training and experience
Start by informing the owners about your past experience and the trainings & studies you’ve accomplished that makes you a good candidate to take over their businesses. Detail your strengths and expertise! Don’t be shy to leave out your weaknesses, it shows maturity and awareness on how you intend to correct them!
Then describe the regions in which you are looking to acquire a business.
Passive vs active
Do you intend to take part of the management in the business or would rather act as a passive investor. Perhaps you might be a company looking to grow by acquisition!
Provide an idea of the price you are willing to pay for a business among the following ranges:
• 0- $ 100,000
• $ 100,000- $ 500,000
• $ 500,000–1,000,000
Detail to the owners a range of down payment you have aside for this transaction. Also describe its origin in order to demonstrate the seriousness of your intentions. Is it savings compounded since the beginning of your career or raised by selling another company or money from heritage or a private angel you’ve convinced to lend you the down payment? There are dozens of reasons that helps owners understand a little more about you.
If you ever need to raise money or need the seller to fund a part of the transaction, mention it, you will both save time by doing so.
If you do not have a down payment make sure you also write it down! It doesn’t necessarily make you less attractive, knowing that according to PWC, it is a buyers’ market until 2025, meaning there is more companies for sale than true buyers. The point is that you will attract only the owners opened to finance a part of the transaction.
To add value to your profile, we invite you to complete our psychometric assessment to demonstrate your capacities to the owners. For your information, we also strongly suggest that the owners perform the test, because it allows us to merge both tests and provide an analysis on how both parties should interact to one another. Contact us if you are interested in this test.