If you own a business, I am sure you have experienced groups calling you asking if you have an interest in selling your business. In a throwback kind of way reminiscent of Glengarry Glen Ross, cold calling is definitely not dead. It is alive and well in the financial industry and it can be used to prey on unsuspecting business owners and company executives.
It is sort of an intimate question for an out-of-the-blue call, so many will start with telling you how much money they have and how wonderful they are. It will go something like - "Hi, I'm James from the Capital 4 You company. We have $100 million under management and we want to buy roofing shingle businesses just like yours."
Many business owners are tired of all the calls and letters and ignore them. Some company executives politely take the calls and file the information. Whatever camp you are in, it is important to know who these people are and what their motivation is for unsolicited communication.
To help you out, we have prepared the following info-graphic. Use it to ask questions of the people that call or write. Use it to figure out what to do next. And most importantly, don't send anyone information without first checking them out with a transaction professional. Many of these folks are calling you because deals done on a one-off basis are in their financial best interest.
Who Are These People Calling Me About Selling My Business?