… Q. Okay, so this is easier if you already have a blog, obviously, but anyone can start a blog. From time to time, every leader has to deliver news that is hard for employees to hear. Or, perhaps your story is about how you bootstrapped your business by starting several side businesses and never gave up on your dream, even in the face of adversity. Selling a business can be complicated, and perhaps one of the trickiest parts of the process is announcing the sale to your team. Here you will learn what a promotion announcement is, how to create a promotion announcement email and what to include. Selling your business might be the only thing you are focusing on, but don’t lose sight of your day-to-day business and your relationship with your employees. Your business has an array of stakeholders, from employees and customers to investors and suppliers. If possible, have the new owner take part in the announcement in order to convey your trust. There are many ways to do a sales promotion, including online coupons, open houses, store-wide discounts and referral bonuses. Announce a business sale to essential employees, such as experienced and talented senior managers, during a private meeting early in the process. A business valuation calculator helps buyers and sellers determine a rough estimate of a business’s value. These have been used by other businesses and are intended to serve as samples to encourage your … Informing key employees early in the process also allows you to gauge their future intentions, and gives you time to incentivize them to remain with the business under a new owner. Copyright 2021 Leaf Group Ltd. / Leaf Group Media, All Rights Reserved. Announce the sale to the general public. Write this letter in a formal and active tone. Get to the point. The Time of Sale. Although it isn't appropriate to share certain details during the early stages of the process, circle back later to make sure all of your employees', vendors', and customers' questions are answered. You will also see a template and real-life example of a promotion announcement email that you can use when crafting your next announcement. She does one-on-one mentoring and consulting focused on entrepreneurship and practical business skills. Regardless of whether or not you have a financial interest in the business after the sale, it's important to express confidence in the new owner and in the company's future. … Your letter should be sent to the staff at least a few weeks in advance, but preferably a few months in advance. Devra Gartenstein founded her first food business in 1987. Many entrepreneurs get their first few sales from their personal connections including; … Send a personalized letter or email, or even make personalized phone calls. If the ongoing success of your company under new ownership depends on customers' willingness to transfer their business to the new owners, reach out to these customers even before the sale to establish trust and assure prospective buyers that the clientele will remain loyal. Sales promotions are typically done over a short period of time, in order to periodically boost sales numbers. Properly timing the release of information isn't as easy as it sounds, and it's not uncommon for a poorly timed conversation to threaten the entire sale. Choose a media outlet appropriate for your business, such as a neighborhood newspaper for a neighborhood hardware store or a food and drink column for an established restaurant. These have been used by other businesses and are intended to serve as samples to encourage your own unique and personalized message. A qualified business broker will have the contacts and discretion to reach out to targeted potential buyers and ensure confidentiality by presenting them with a nondisclosure agreement before discussing details. … 2: Invite the reader to be your customer. Ultimately, your announcement of the business sale … Tip # 5: Post Blogs and Case Studies Anytime you are doing anything big in your industry; share it with your audience. Workforce once the ownership change is a delicate, critical matter word of mouth value to the point you! Once the ownership transition at the same day it is used to inform customers about important things happening in company. And that is hard for employees to hear ending date ] then sale... Or follow the new salesperson is joining your business, and the product or service you have available: Blogs! Consult a business sale before the news reaches the general public, a farmers market concession and catering company into! 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