Switched-on retailers and the best restaurant owners in the country know full well that most of us buy with our eyes. Retailers spend £1,000’s making sure their visual merchandising – such as window displays – are dressed up to do just one thing… Invite us into their shops to spend our money with them!
Likewise, savvy restaurateurs take the time to ensure your meal arrives at your table looking nothing less than irresistibly appetising. If it looks fabulous, you know it’s a fair bet it’s going to taste fabulous. Equally, the same basic principle applies to selling your business.
There is no doubt, first impressions count.
Yet so many business owners do very little to ensure their business is presented properly for sale… spending time, money and effort to ‘groom’ the business to make absolutely sure it looks its best when a potential buyer first sets eyes on it.
Research shows 60% of people on the planet (and therefore 60% of your potential buyers) are ‘visual’ learners – i.e. they respond to the world predominantly through what they see, rather than what they hear or touch and feel. So it follows, if you haven’t visually dressed your business for sale, then you are effectively alienating 60% of your potential buyers at a single stroke, well before they even get to speak with you. I venture you can’t afford to make such an easily avoidable mistake.
6 out of 10 business buyers respond, react and make decisions based on what they see, not what they hear. So if your business doesn’t immediately look like it’s worth anywhere near the asking price, no amount of talking at a later stage will make a blind bit of difference to the buyer’s first impression. The sad fact is, you will probably never get to speak with a ‘visual’ buyer in any case, simply because they’ve been attracted to a much better looking business than yours.
So if you are struggling to attract good potential buyers to your business at the moment, look at these 3 key areas:
1. Are you releasing enough visual information? Have you given them easy access to photographs, videos or virtual tours of your premises?
2. If you have made visual information available to potential purchasers, does it help the sale of your business, or hinder it?
3. Does every aspect of your business – physical, financial, operational and everything else – look good?
To achieve the very best price for your business, and to give yourself the very best chance of selling it in the shortest possible time, remember the critical importance of dressing to impress.