Keeping the sale of your business CONFIDENTIAL

Tip of the Day

Keeping the sale of a business confidential is probably the number one concern for business owners. Employees may become worried about the security of their employment, and clients may become concerned about quality and service.  Here’s something to ease your concern…

Business Brokers specialize in confidentiality. Every business they sell is a confidential transaction. A broker acts on your behalf allowing you to remain anonymous. It’s important to maintain confidentiality.

So, When should I tell my employees about the sale, you may ask? 

Although it sounds cruel, our considerable experience has proven that it is best to tell your employees about the sale after the sale is complete. Of course, if there is an employee whose expertise will be needed after the sale, you should introduce the buyer to this employee shortly before closing.

We have found that once employees find out that the business is for sale, they often just assume that their position will be replaced with the new owner’s personnel. This is far from the truth, however. Current employees are a wealth of knowledge! After the transaction has occurred and the seller is no longer there, employees become a real asset to the business. It typically works best if employees are introduced to the new owner right after closing the sale. This enables the new owner to tell about his background and to take time to assure the employees of their value and that no one is going anywhere– all without distressing anyone.

If you’d like to discuss how the confidentiality of the sale of your business will be handled, contact me at the number below. Thank you very much.

-Joan Young

Sunbelt Business Brokers, Greater Bay Area | (408) 436-1900 | www.sunbeltbayarea.net