Creative ways to sell your business for sale

Business For Sale - All good things must come to an end. When it’s time to sell your business, most people utilize the following strategies:

1. advertise in the newspaper
2. contact a business broker
3. put a business for sale sign in the window

With the growing popularity of the Internet, many people are now starting to list their businesses for sale online, whether through community web sites, business specialty sites, or other venues. Even auction sites like eBay are getting into the action, with literally hundreds of business for sale listings available online.

If you haven’t had any luck selling your business via traditional means, you might also want to consider getting a bit creative with your selling tactics. For example, I have heard of businesses who have transferred ownership via a raffle or a contest. It’s an idea that’s been used often in the United States, but in the past was deemed illegal in Canada.

For example, there was a restaurant in Idaho Springs that was for sale for quite some time without any serious buyers. The restaurant owners decided to hold a writing contest, where each person who entered was supposed to write an essay on why their dream has always been to own a restaurant in a small mountain town.

It cost $100 to enter the contest, and the winner with the best essay (as judged by an independent firm) won the restaurant. I have seen similar contests to win hotels as well as other restaurants, with entry fees ranging from $100 to $1000.

This idea has also gone to Hollywood in the 1996 movie, The Spitfire Grill, where a contest is held to sell a restaurant. Several similar events have been held in the United States over the years.

Similar to the essay contests, raffles tend to cost less to enter and are purely based on the “luck of the draw”. No writing talent is required, and most allow you to purchase as many entries as you like. Raffles are subject to state and local regulation, so before you try to sell your business in this way, be sure to investigate the legal ramifications.

Previous Articles Highlighter:

Business Shopping (1)
...already familiar with. Many traditional brick & mortar stores have created online presences and are now doing a fair amount of business online. This includes stores such as Barnes &...

Business Opportunity (2)
...up front, or over time, looking at the overall costs versus the projected return on investment is a good way to begin analysis of this opportunity. ROI isn’t always easy to project, howev...

Business Plan (3)
...school was how to write a business plan. The one thing that I must have missed, though, is why to write a business plan. Granted, a business plan is a basic necessity when pursuing angel mone...

Business School (4)
...etc., all play a part in your selection process. Working professionals have added criteria to consider, including whether the school offers night or weekend programs, online learning, work credi...

Business Services (5)
...programs which can help small business owners save money on their purchase of business goods and services. 3. Look for discounts available to your trade organization a. If you’re paying a...

Business To Business Film (6)
...is big business. Practically anything that used to be a prop or a film location can now be filled by a brand endorsement, from food and beverage to computers, cars, clothing, accessories, ce...

Business Travel (7)
...tourism and business travel. Tighter security leads to longer lines at the gate as well as the requirement of arriving at the airport well in advance of your scheduled flight, especially importa...

Computer Business (8)
...and homework will have vastly different requirements from a machine whose primary purpose is, for example, Internet gaming. The latter will require more memory, a sound system, high-speed modem, a...

Home Based Business (9)
...To Get A Life With your office located within your home, will you be able to keep enough separation between work and the rest of your life (home, family, friends, entertainment, etc.) that you do...

Home Based Business Opportunity (10)
...and products being sold through this type of channel. There are also MLM organizations selling telecommunications products, web sites and e-services, learning aids, information, and more...

Home Business (11)
...from home. The perks of being able to avoid the daily commute, work in pajamas and bunny slippers, and spend extra time with the family children, drive the rise in people desiring an altern...

Internet Business (12)
...this internet business? Will it be your sole source of revenue (eventually, of course), or is it a “side business” meant to supplement your primary income? 7. Do you have the resourc...

Small Business (13)
...UPS, VISA, Citibank, and more, offer small business discounts and special services aimed at winning small business customers and building long term relationships, with the thought of growing ...

Cnn And News (14)
...with broadcast organizations that offer things like CNN and news. For example, Fox News, MSNBC and the like all offer twenty four news coverage along the lines of CNN and news. CNN and news cover...

Construction Workers Boning (15)
...construction workers boning up on their skills on-site. In other words, these courses are offered at the business headquarters of some construction companies rather than at educational faciliti...

Consumer Research Corporation (16)
...a new product to market. The consumer research corporation is dedicated to undertaking an in depth analysis of the market to determine whether a particular product truly will be a hit with cons...

How To Start A Small Business (17)
...time succeeding. But once you learn how to start a small business, the possibilities are endless. Many experts in financial matters agree that the most important step in learning how to start a ...

Fire Department Trade Show Displays (18)
...Fire departments even now have large trade shows from time to time. Fire department trade show displays are in demand by those people who organize trade shows related to fire fighters and the...

Information Of Planet Jupiter (19)
...to men and women everywhere. Indeed, for centuries, men and women have looked to the heavens trying to comprehend what lies in the skies above. In the past half century, NASA - the space agency...

Information On The Sinking Titanic (20)
...we delve into sites that offer information on the sinking titanic, we do want to mention that the local library is also a wonderful resource for information on the sinking titanic. In some ways, n...

Internet Safety Teenagers (21)
...frequent users of the World Wide Web. Unfortunately, there are some people who lurk around the darker corners of the Net preying on vulnerable teen aged boys and girls. This article is designed...

Karl Ribas Internet Marketing Consultant (22)
...Karl Ribas Internet marketing consultant. Please keep in mind that nothing in this article should be construed as an endorsement of Karl Ribas Internet marketing consultant. Rather, we merely are ...

Life Long Weight Management Program (23)
...to search for further information on the topic of life-long weight management program. Many fad diets stress weight loss by advocating some very limited dieting ideas and plans. For example, ...

Market Research Student Spending (24)
...student spending. What has been revealed via market research student spending is the fact that students - and we speak of college students generally - spend a significantly disproportionate amou...

Marketing A Family Daycare (25)
...should market their operations. Some people who operate family daycare operations become puzzled about how to best go about marketing a family daycare. Some people when considering marketing a...

Milwaukee Investment Property (26)
...as any sort of recommendation concerning Milwaukee investment property. Rather, the materials presented herein on Milwaukee investment property are for informational and educational purposes ...

Reposession Services Philadelphia (27)
...A person should check with the Philadelphia Better Business Bureau to get a better picture of the reputation of a repossession services Philadelphia before engaging one or another service. ...

Rss Latest News (28)
...In this article, as allowed by RSS latest news, we provide some examples of RSS latest news. Keep in mind that this information changes with new materials being added as RSS latest news on nearl...