Communicating with potential buyers
Communicating well with potential buyers can help you sell your business successfully. The most important communications with potential buyers, from receiving a first message to accepting an offer to buy your store, happen directly in the Exchange app.
Responding to messages from potential buyers
The Exchange Marketplace allows you to privately send messages to potential buyers without having to disclose your real email address.
When a buyer sends you a message, you can use the Inbox tab in the Exchange app to respond to them. This helps you to keep track of all of your conversations with potential buyers and check for new offers.
Accepting an offer from a buyer
When you receive an offer from a buyer, you'll get an email from Exchange with a message from the buyer and the amount they're offering to buy your business. This is an exciting moment for both you and your buyer and you're likely eager to start finalizing the deal.
To accept the offer, go to the Inbox tab in the Exchange app and open the conversation with your buyer. Then, click Accept Offer and follow the prompts to create the Escrow transaction.
When do you need a non-disclosure agreement
Sellers of larger businesses must often disclose confidential or proprietary information with buyers at the point when the buyer begins their inspection period. It's at this point that you should begin the process of obtaining an NDA, which will be signed by the buyer or any other parties who could be exposed to confidential information about the business.
We recommend having the buyer sign an NDA if you want to feel a stronger sense of security when sharing any of the following information with a buyer:
- Private information about your business model.
- Proprietary information about any tool your business uses to operate.
- Information about your customers.