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Playing the Numbers:
Time to Advertise Your Business?
If you are planning to sell your NJ business, you need to advertise it. You and your broker will create advertising materials that present the business in a positive way, and at the same time does not lie. The advertising should be compelling, attention-grabbing and create excitement.
For example, suppose that you are trying to sell your NJ restaurant. Which of the two opening sentences for the advertisement is more attention-grabbing: 1) Profitable, established restaurant serving middle-class audience for sale on busy street, OR, 2) Highly profitable, a well-established restaurant serving diverse clientele for sale in a recently gentrified section of the city.
The second opening line is better. The first sentence is boring. Profitable or highly profitable are subjective terms, but highly profitable creates the interesting idea that an owner can become wealthy, and not simply stay in business. The term well established vs. established creates that feeling that the business has been operating for a long period of time. The middle-class audience creates a boring feeling, while diverse clientele creates excitement. The term busy street really does not mean much, but a gentrified section of the city creates an image of youth and vitality.
Consider an owner of a dry-cleaning shop. Typically a very boring business, he or she is trying to sell it. Here are two opening sentences for an advertisement: 1) This is a dry cleaning business serving an area with many business and professional people, or 2) This is a well established dry cleaning business serving a community that has recently experienced a large influx of business and professional people and is expected to grow. The second sentence of copywriting is much more likely to generate a response. The point is that your advertising should meet four criteria: 1) 100% accurate, 2) attention-grabbing, 3) create excitement, and 4) make the reader want to contact you for more information.
A Numbers Game
Selling a New Jersey business, like anything else, is essentially a numbers game: the more people who contact you, the greater the likelihood that you will sell the business in a timely manner. Your advertising should be designed to stimulate the largest possible response.
This is a newly revised version of an article previously published by NJ Business Broker Brad Palmer. For more information, please call Mr. Palmer at 908-489-0317.
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