You Never Know Where the Buyer Will Come From

by Richard Jacobs 3rd of April, 2025

You Never Know Where the Buyer Will Come From

Throughout my career as a Business Broker, there’s one crucial insight I’ve consistently encountered—assume nothing, particularly regarding where your ideal buyer will emerge from or how much they’ll value your personal goodwill.

One memorable experience vividly demonstrates this point. A painting business owner approached me, initially referred by a former client whose business I had successfully sold.

Despite the strong recommendation, the vendor was deeply sceptical about the prospects for selling his modest operation, comprising himself, his son, and a select group of reliable contractors. He was convinced the business lacked substantial market value, believing only another painter would appreciate its true worth.

He also doubted any buyer would want him to remain involved after the sale, wondering why someone would purchase the business and retain him as an employee.

However, upon a detailed review, I quickly realised he was significantly undervaluing several critical aspects of his business. Beyond just financial figures, he had built a remarkable reputation based on consistent reliability and exceptional craftsmanship.

His portfolio was impressive, showcasing successful projects and a solid pipeline of future orders.

Equally valuable was his willingness to stay involved part-time, offering mentorship and continuity, along with his son’s and trusted contractors’; commitment to remain.

Rather than obstacles, these were invaluable assets that promised a smooth and appealing transition for a new owner.

Confidently, I reassured him, “Everything is saleable if you’re realistic about the price, and you might be surprised at who truly sees value in your business.”

We launched an engaging marketing campaign, explicitly highlighting the vendor’s desire to stay involved part-time. The response exceeded expectations, attracting strong interest from diverse industry sectors. Yet, the eventual buyer was someone completely unexpected—a mechanic who had recently sold his automotive workshop.

Curious about his motivation, I asked why he was shifting from a familiar industry to something entirely different. His response was insightful: he was excited by the opportunity for a new challenge. More importantly, he greatly valued the prospect of learning directly from the existing owner.

The chance to have ongoing mentorship, protect the established brand, ensure consistent quality, and absorb vital industry-specific knowledge was immensely attractive to him.

The vendor, initially sceptical, soon realised the significance of his personal goodwill. His involvement wasn’t just beneficial; it was essential. This new partnership not only
guaranteed a successful handover but also secured the ongoing legacy and reputation of his business.

The moral of this story is clear—never underestimate the hidden potential within your business or presume to know precisely where your ideal buyer might originate.

Buyers frequently come from the most unexpected places, bringing fresh enthusiasm, innovative perspectives, and a profound respect for the brand and legacy you’ve diligently cultivated.

Always remain open-minded—you might be surprised by who sees the real value in your life’s work.

Tags: selling exit strategy tips small business