We are looking at recent data that shows nearly half of the people currently looking to buy a business are corporate refugees. Specifically, about 44 percent of the buyer pool consists of mid career professionals who are leaving their corporate roles to pursue business ownership. This is a fundamental shift from the traditional image of a buyer being a seasoned entrepreneur or a local competitor.
If you are a business owner thinking about selling, this shift in who is buying could very well change how you should present your company. These corporate refugees have spent years climbing the ladder and now they want to own it.
They usually have the capital and the management experience, but they are often looking for something very specific. They are not looking for a project or a technical trade where they have to be the expert on day one. They are looking for a functional machine.
These buyers value systems and documented processes above almost everything else. They want to see that the business can continue to run smoothly without the owner being involved in every single daily decision. In the corporate world, they are used to structure and clarity, so they will be looking for clean books and a solid team that stays in place after the sale.
When you focus on making your business turnkey, you make it much more attractive to this massive group of motivated buyers. They want to buy a reliable income stream and a proven model rather than just a job. By cleaning up your operations and ensuring the business is not entirely dependent on you personally, you open the door to a much faster and more successful exit.
Understanding that your buyer might be coming straight from a corner office helps you speak their language and ultimately helps you get the deal closed.
