Industries where I'm more likely to reach the decision maker?

by marc.v
27 replies
Hey folks,

I'm generating leads for a business broker. The goal is to find out of a business owner is open tot he idea of selling their business.

Which industries in the $500k-$2m range are likely to have the owner answer the phone or respond to e-mail?

Thanks!
#decision #industries #maker #reach
  • Profile picture of the author Kay King
    Which industries in the $500k-$2m range are likely to have the owner answer the phone or respond to e-mail?

    Probably none.


    Your question reminds me of the 'we buy houses' phone calls and emails that are nothing more than lead generators that are then sold to real estate companies. Is a business owner going to talk to a stranger on the phone about selling his business?


    I think generating leads in this arena would work better if you try to attract business owners through ads (print/online/snail mail) with a site they can visit or phone number they can call for more information. But that's just my guess.
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    • Profile picture of the author marc.v
      Originally Posted by Kay King View Post

      Probably none.


      Your question reminds me of the 'we buy houses' phone calls and emails that are nothing more than lead generators that are then sold to real estate companies. Is a business owner going to talk to a stranger on the phone about selling his business?


      I think generating leads in this arena would work better if you try to attract business owners through ads (print/online/snail mail) with a site they can visit or phone number they can call for more information. But that's just my guess.
      I have a phone rep that produces about 1-3 leads a day. They don't talk to us about selling their business. That happens when we hand off the call to the broker.

      To answer my own question, an owner of a tattoo shop will pick up the phone more often than an HVAC company owner. I'm looking for more industries like tattoo shops in this example.
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  • Profile picture of the author Kay King
    So - the owner of a shop where the owner IS the business and is in the shop all day working the business....would answer a phone. That makes sense as the phone is likely a customer calling for an appointment or to ask a question.

    A service business - HVAC for example - is unlikely to answer because that person is out of the business working with customers and installing products. That person is likely to return calls once or twice a day.

    That makes sense - but does someone like a tattoo artist working in a one man shop HAVE a business to sell? Is that a good lead? (just curious)
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    • Profile picture of the author marc.v
      Originally Posted by Kay King View Post

      So - the owner of a shop where the owner IS the business and is in the shop all day working the business....would answer a phone. That makes sense as the phone is likely a customer calling for an appointment or to ask a question.

      A service business - HVAC for example - is unlikely to answer because that person is out of the business working with customers and installing products. That person is likely to return calls once or twice a day.

      That makes sense - but does someone like a tattoo artist working in a one man shop HAVE a business to sell? Is that a good lead? (just curious)
      Incorrect.

      Tattoo shops often have multiple tattoo artists working there. The owner will interface with clients more than other artists. This includes answering the phone and replying to e-mails.

      I'm looking for other businesses like tattoo shops where the owner is more likely to answer the phone or respond to e-mails.
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  • Profile picture of the author max5ty
    If you have a phone rep that does 1 -3 leads per day what more do you want? Hire a good closer and finish the deals.

    I'm quite sure you know about the woman who pushes this whole business buying thing all the time.

    She's making good money just off of the whole idea of telling others how to do it.

    You're in a highly competitive market and I wouldn't consider email until after the initial contact and you had already determined the owner was even receptive to your idea.
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    • Profile picture of the author marc.v
      Originally Posted by max5ty View Post

      If you have a phone rep that does 1 -3 leads per day what more do you want?
      Better efficiency.

      Originally Posted by max5ty View Post

      Hire a good closer and finish the deals.
      The broker is the closer.

      Originally Posted by max5ty View Post

      I'm quite sure you know about the woman who pushes this whole business buying thing all the time.
      Cody Sanchez.

      Originally Posted by max5ty View Post

      She's making good money just off of the whole idea of telling others how to do it.
      I take no issue with people packaging and selling their expertise. Very common. See: the WSO forum.

      Originally Posted by max5ty View Post

      You're in a highly competitive market and I wouldn't consider email until after the initial contact and you had already determined the owner was even receptive to your idea.
      If I send 1000 emails that say "would you ever consider selling your business?", I would probably get more than 1 positive reply.

      Instead of sending more e-mails, I'd rather target industries where a higher positive reply rate is more likely. Again, efficiency.
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      • Profile picture of the author max5ty
        Originally Posted by marc.v View Post

        Better efficiency.

        The broker is the closer.

        Cody Sanchez.

        I take no issue with people packaging and selling their expertise. Very common. See: the WSO forum.

        If I send 1000 emails that say "would you ever consider selling your business?", I would probably get more than 1 positive reply.

        Instead of sending more e-mails, I'd rather target industries where a higher positive reply rate is more likely. Again, efficiency.
        Yes, by closing the deal I didn't mean selling the business. I meant to close the deal as far as getting the business as a lead. A phone rep can get leads, but hopefully, they also have an idea of how to qualify them.

        There are a ton of business brokers out there so I'm sure you'll have no shortage of selling leads...as long as they're good leads and not a waste of their time, which is where a phone rep that can qualify the leads is important.

        I have nothing against Cody Sanchez, and have nothing against her selling her program. I know she makes a lot of money by doing so.

        As far as which businesses are more likely to answer the phone or an email...I think anyone could only guess. The smaller mom-and-pop businesses would probably be the most likely...but then again, they would also probably be the most leery thinking it was a scam.

        I just don't think anyone can offer you an easy answer on where to get leads.

        Good luck with your venture.
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    • Profile picture of the author animal44
      Originally Posted by max5ty View Post


      She's making good money just off of the whole idea of telling others how to do it.
      And if it's such a good business model, why is she selling a "how to" instead of building a business herself... Those who can, do, those who can't, teach...
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  • Profile picture of the author animal44
    Originally Posted by marc.v View Post

    Hey folks,

    I'm generating leads for a business broker. The goal is to find out of a business owner is open tot he idea of selling their business.

    Which industries in the $500k-$2m range are likely to have the owner answer the phone or respond to e-mail?

    Thanks!
    I'm surprised that any legit business broker would pay for such leads. The costs of due diligence on such businesses would be higher than such a business would realise on a sale. Indeed most businesses of this size don't sell.

    I also agree that few business owners are going to talk to a stranger about selling their business.

    Hairdressers, beauty salons, nail artists, maybe have the same business model as tattoo artists...
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  • Profile picture of the author Kay King
    Hairdressers, beauty salons, nail artists, maybe have the same business model as tattoo artists...

    What most of those have in common is the people who work there are often independent...renting their space (or 'chair') or paying a percentage of earnings to the owner.


    Point is - while there is a 'business' there it's not always a salable business because the 'talent' isn't part of what is being sold.
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    • Profile picture of the author max5ty
      Originally Posted by Kay King View Post


      Point is - while there is a 'business' there it's not always a salable business because the 'talent' isn't part of what is being sold.
      That's a good point to consider.

      I thought this whole conversation was interesting so I looked up one of the big business brokers.

      They say they've recently sold everything from an ice cream stand to a trucking company.

      So, I'm inclined to think it has less to do with what the actual business is and more to do with the business owners themselves. By that I mean a business owner who is thinking about selling, and I don't think they fit into any certain type of business category.

      Obviously, a publicly traded company is probably out of the picture.

      So I think in reality it's just a numbers game like most sales. The more people you contact, the more chances you have of finding a motivated owner that wants to sell. And I think trying to narrow it down to certain niches is probably just shooting yourself in the foot.
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      • Profile picture of the author GordonJ
        Warriors' own Claude W. recently sold his business, which he had for several years.

        I know of many fellow boomers, and many have heirs who are NOT interested in the business dad/grandpa built. The data I might want to see would be businesses owners of at least 10 years, and over 65. That might be a good lake to fish in for leads.

        A decade of biz activity, probably shows profitability, and the age of the owner might give one an approach to pitch. With shows like Shark Tank and all others of that ilk, we have a good idea of how a valuation process works. Another thing to consider, might be capital gains, and an elder owner might be open to owner financing from the profits and be paid over a 5-7 year period. Lots of options here.

        Also, I'd probably ask AI to find the sources of this data too. Decade of ownership, over whatever 65 is a default idea.

        GordonJ

        P.S. People age 55+ make up 21% of the U.S. population, but own a disproportionately high 50.9% of U.S. small businesses, according to new survey data from 3,000 entrepreneurs published by SCORE, mentors to America's small businesses.



        Originally Posted by max5ty View Post

        That's a good point to consider.

        I thought this whole conversation was interesting so I looked up one of the big business brokers.

        They say they've recently sold everything from an ice cream stand to a trucking company.

        So, I'm inclined to think it has less to do with what the actual business is and more to do with the business owners themselves. By that I mean a business owner who is thinking about selling, and I don't think they fit into any certain type of business category.

        Obviously, a publicly traded company is probably out of the picture.

        So I think in reality it's just a numbers game like most sales. The more people you contact, the more chances you have of finding a motivated owner that wants to sell. And I think trying to narrow it down to certain niches is probably just shooting yourself in the foot.
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        • Profile picture of the author max5ty
          Originally Posted by GordonJ View Post

          Warriors' own Claude W. recently sold his business, which he had for several years.

          I know of many fellow boomers, and many have heirs who are NOT interested in the business dad/grandpa built. The data I might want to see would be businesses owners of at least 10 years, and over 65. That might be a good lake to fish in for leads.

          A decade of biz activity, probably shows profitability, and the age of the owner might give one an approach to pitch. With shows like Shark Tank and all others of that ilk, we have a good idea of how a valuation process works. Another thing to consider, might be capital gains, and an elder owner might be open to owner financing from the profits and be paid over a 5-7 year period. Lots of options here.

          Also, I'd probably ask AI to find the sources of this data too. Decade of ownership, over whatever 65 is a default idea.

          GordonJ

          P.S. People age 55+ make up 21% of the U.S. population, but own a disproportionately high 50.9% of U.S. small businesses, according to new survey data from 3,000 entrepreneurs published by SCORE, mentors to America's small businesses.
          All good stuff to consider.

          I used to watch Shark Tank all the time, but haven't watched it in a while.

          I loved it when Kevin would tell people they needed to take their idea out behind the barn and shoot it.

          Or, when Tapper on Bar Rescue goes into a bar and the owner throws a fit over Tapper's ideas. Tapper asks them if their ideas are better then why are they going out of business in 30 days.

          It happens a lot. Someone on the forum wants advice and someone like you with a lot of experience will answer and the person will disregard the advice.

          I'm not talking about the person who did this thread because I think they're really trying to find answers. And I also believe the whole lead generation thing can be profitable.

          I think the whole thread is interesting though. If nothing else it's interesting to learn something new.
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          • Profile picture of the author GordonJ
            You know this too max5ty, many (maybe most) small biz owners are clueless.

            For free, advice on the forum is what it is...they can take it or leave it...but when they used to pay me, and ignore the advice, I always had an indemnity clause against their stupidity. And a never again clause too.

            There is one thing I do know about business; they all need customers, clients or consumers. And most of them need help with getting them, and then keeping them, if applicable.

            Warriors, and especially new ones, may need more PRE business help than they realize.

            But if anyone starting out, BEGINS with their customer first, and how the money exchange happens, and the satisfaction of that exchange...it may be all they really need.

            GordonJ



            Originally Posted by max5ty View Post

            All good stuff to consider.

            I used to watch Shark Tank all the time, but haven't watched it in a while.

            I loved it when Kevin would tell people they needed to take their idea out behind the barn and shoot it.

            Or, when Tapper on Bar Rescue goes into a bar and the owner throws a fit over Tapper's ideas. Tapper asks them if their ideas are better then why are they going out of business in 30 days.

            It happens a lot. Someone on the forum wants advice and someone like you with a lot of experience will answer and the person will disregard the advice.

            I'm not talking about the person who did this thread because I think they're really trying to find answers. And I also believe the whole lead generation thing can be profitable.

            I think the whole thread is interesting though. If nothing else it's interesting to learn something new.
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        • Profile picture of the author animal44
          Originally Posted by GordonJ View Post

          Warriors' own Claude W. recently sold his business, which he had for several years.
          Are you sure of that...?

          Google states "Permanently Closed"

          And shows the following: 'From The Sweeper Store "We have retired. The new business is Classic Vacuum, located just two buildings north of our old location. The address is 2875 Cleveland Road. It's just one building south of the Green Leaf Restaurant. Aaron and April will take great care of you. They will honor the Riccar brand factory warranties, and will supply bags, belts, parts, and service."'

          I suspect he sold the assets, not the business. Big difference...

          If anyone wants to know about buying and selling businesses or business brokering, Clinton's knowledgebase is the place to go...

          "Overall, 80% of businesses that go to market do not find a buyer. And when it comes to small and micro businesses, the stats are even more sobering. Well over 95% of these businesses do not find a buyer!"
          https://ukbusinessbrokers.com/harsh-...mall-business/

          There's a goldmine of information on that site and Clinton's blog...
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          • Profile picture of the author max5ty
            Originally Posted by animal44 View Post

            Are you sure of that...?

            Google states "Permanently Closed"

            And shows the following: 'From The Sweeper Store "We have retired. The new business is Classic Vacuum, located just two buildings north of our old location. The address is 2875 Cleveland Road. It's just one building south of the Green Leaf Restaurant. Aaron and April will take great care of you. They will honor the Riccar brand factory warranties, and will supply bags, belts, parts, and service."'

            I suspect he sold the assets, not the business. Big difference...

            If anyone wants to know about buying and selling businesses or business brokering, Clinton's knowledgebase is the place to go...

            "Overall, 80% of businesses that go to market do not find a buyer. And when it comes to small and micro businesses, the stats are even more sobering. Well over 95% of these businesses do not find a buyer!"
            https://ukbusinessbrokers.com/harsh-...mall-business/

            There's a goldmine of information on that site and Clinton's blog...
            Interesting statistics.

            I'm not an expert in this area...

            but I have a couple of thoughts about this.

            Someone would mainly buy a business for the brand.

            By that I mean they're buying the reputation etc.

            Otherwise, most of the time it would probably be cheaper to just start the same thing.

            Example: A hair salon. It would be easy to just start your own...but then you don't have the reputation an established one already has. That is if they have built up a good brand name.

            There are brands and blands.

            A brand can take time to build and that would give you a jump start on things.

            A bland is just a business that blends in with every other business in its category. In that case, starting your own would probably be just as good.

            Anyway, thanks for the link. It's an interesting read.
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          • Profile picture of the author Claude Whitacre
            Originally Posted by animal44 View Post

            Are you sure of that...?

            Google states "Permanently Closed"

            And shows the following: 'From The Sweeper Store "We have retired. The new business is Classic Vacuum, located just two buildings north of our old location. The address is 2875 Cleveland Road. It's just one building south of the Green Leaf Restaurant. Aaron and April will take great care of you. They will honor the Riccar brand factory warranties, and will supply bags, belts, parts, and service."'

            I suspect he sold the assets, not the business. Big difference...
            The buyer came in wanting to buy our business. I told them they shouldn't buy our business for two reasons;
            1) We had store policies in effect that they wouldn't want to honor.
            2) Our location had problems with building and parking lot upkeep.

            So they bought our inventory, we gave them our store phone number, and they moved the store two buildings north of where our store was.


            We could have sold the business to them, for more than we asked for the inventory, but I thought it would be a mistake on their part.
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        • Profile picture of the author marc.v
          Originally Posted by GordonJ View Post

          Warriors' own Claude W. recently sold his business, which he had for several years.

          I know of many fellow boomers, and many have heirs who are NOT interested in the business dad/grandpa built. The data I might want to see would be businesses owners of at least 10 years, and over 65. That might be a good lake to fish in for leads.

          A decade of biz activity, probably shows profitability, and the age of the owner might give one an approach to pitch. With shows like Shark Tank and all others of that ilk, we have a good idea of how a valuation process works. Another thing to consider, might be capital gains, and an elder owner might be open to owner financing from the profits and be paid over a 5-7 year period. Lots of options here.

          Also, I'd probably ask AI to find the sources of this data too. Decade of ownership, over whatever 65 is a default idea.

          GordonJ

          P.S. People age 55+ make up 21% of the U.S. population, but own a disproportionately high 50.9% of U.S. small businesses, according to new survey data from 3,000 entrepreneurs published by SCORE, mentors to America's small businesses.
          This has been the only worthwhile post in this thread. I'm going to look at owner and business demographics instead of specific industries. I wont find business more likely to respond, but the ones that do respond will be more likely to think about selling.

          Every other reply has been an absolute waste of time to read.. People with no insight questioning whether or not what I'm doing is making my clients happy. It is. It has been for months. For all the "why would a business owner pay for leads like this" and all the speculation, know that businesses have been sold because of me. I'm successful in serving up leads. Leads that my clients then work and convert on.

          Stick to the topic of a thread. I asked "do you know of any businesses...". if you dont, move on. Don't sit here and pontificate on things that have nothing to do with question presented. You look foolish.

          Also the one dude who said "those who cant do, teach" with a smirk or wink emoji. Imagine being that smug while being so far off base and clueless. Extremely cringe. No one can do what they teach and add 7-8 figures to their business by attaching a media and e-learning component to it? No? Of course they can.

          I haven't visited this forum in years. After ineracting with a few of you, it'll be at least that long until my next visit.
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          • Profile picture of the author Monetize
            Originally Posted by marc.v View Post

            This has been the only worthwhile post in this thread. I'm going to look at owner and business demographics instead of specific industries. I wont find business more likely to respond, but the ones that do respond will be more likely to think about selling.

            Every other reply has been an absolute waste of time to read.. People with no insight questioning whether or not what I'm doing is making my clients happy. It is. It has been for months. For all the "why would a business owner pay for leads like this" and all the speculation, know that businesses have been sold because of me. I'm successful in serving up leads. Leads that my clients then work and convert on.

            Stick to the topic of a thread. I asked "do you know of any businesses...". if you dont, move on. Don't sit here and pontificate on things that have nothing to do with question presented. You look foolish.

            Also the one dude who said "those who cant do, teach" with a smirk or wink emoji. Imagine being that smug while being so far off base and clueless. Extremely cringe. No one can do what they teach and add 7-8 figures to their business by attaching a media and e-learning component to it? No? Of course they can.

            I haven't visited this forum in years. After ineracting with a few of you, it'll be at least that long until my next visit.

            You have got to be the most thankless rude person I have seen on here in a minute.

            Do you know it takes time to write a post?

            And if you are such a know-it-all, why are you the one asking questions.

            I had some answers for you like where you could find $10M businesses that people will actually be willing to sell, but I'm glad I kept that tidbit to myself.
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          • Profile picture of the author Frank Donovan
            Originally Posted by marc.v View Post

            I haven't visited this forum in years. After ineracting with a few of you, it'll be at least that long until my next visit.
            You won't be missed. Despite your ungracious responses, many regular members will have found this an interesting discussion.

            No need to hurry back.
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            • Profile picture of the author discrat
              .... and don't let the door hit you on the way
              out !!!!
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          • Profile picture of the author animal44
            Originally Posted by marc.v View Post

            I haven't visited this forum in years. After ineracting with a few of you, it'll be at least that long until my next visit.
            oh dear...!
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  • The highah up you wanna reach, the difficulatah it is to snoopsy YOUR THING into THE DESIRED SLOT.

    As yr natchrl Princess, I can say this with 100% certainty!

    The choosiah I get, the more partickular I am 'bout what fluttahs round muh seecrit vestibyool.

    Local businesses an' SMEs have a smallah hierarchy of command than, say, L'Oreal.

    Likely your smoochie point here is more immediately interactive.

    You can walk inta the store or more easaly speak to the perils of a biz on a knife edge.

    National concerns gaht more expansive hierarchies bcs more prahblems to solve, so personal contact with the CEO is actively dissuaded.

    Shields up!

    Fkr gaht GOLF an' shit!

    As for intahnashnl powahhouses an' the spawn of the Gahds ... the top guys here don't evin know who the little guys are, let alone deign to speak with 'em.

    So you must discovah: at which point in the hierarchy of this venture does it make most practical sense for me to REVEAL MUH BOOBIES?

    *my metaphor, naht your strategy*

    You want passage up from a practical entry point.

    Naht my chatup line, course -- bcs like I said, ima natchrl Princess rockin' out on hierarchical prowess figured long before I discovahed I gaht rat tail hayurre.

    Thing is, you cain't always reach the decision makah.

    But them people always inflooenced by SUMONE.

    Into their lofty pool flows all 'flooence.

    So why naht appeal to the less inclined to be difficult if'n they gaht sway with the ivory towah cunnyholes snapped shut up above?

    I would naht wish to speak 'bout entry points so bluntly.

    But there you have it.
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  • Profile picture of the author Kay King
    PB - I think 'entry points' is valid....but not sure you should be posting about your seecrit vestibyool....
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  • Profile picture of the author DABK
    Maybe the question to ask is not what type of business has high owner-answering but when are owners most likely to answer.


    I've know a few business owners in my life. Most have an employee answer between 9 and 5 (or whatever they're "we're open" hours are). But, if there's someone present outside those hours, quite often it is the owner and, sometimes, they answer the phone.
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  • Originally Posted by Kay King View Post

    PB - I think 'entry points' is valid....but not sure you should be posting about your seecrit vestibyool....
    In my duffense, I would favour always joocy invitation ovah violet-throbsy protooberayschwaahn ...

    Originally Posted by marc.v View Post

    I haven't visited this forum in years. After ineracting with a few of you, it'll be at least that long until my next visit.

    How shrivlfanj is thayutte?


    Thing is, you always git a mwah with Moi sumplace on the passage to the 'nevitbl sloos.

    Herein lies my glory, Sweetiepoppets!

    Jus' checkin' tho for when I next STAIN MUH CARPET.

    If Cap'n Sweepsy no longah vailbyool for slooshins, what's a gal to do?

    This is how we retro back to skinnin' bears, tellya.

    "Commercially produced twill has nothing on the rotting flesh of the Ursine!"

    Naht that I read the LATEST ARTICLE in RECYCLABLE BEAR CORPSE WEEKLY or nuthin'.

    An' jus' quoted the lead line from the headittourial.

    Tellya, when you informed AF, you gotta take cayurre what you dispensin' on out less'n conspiracy theorists figure you gaht a cloo.

    "Only everyone but Marc V figures he will never be back, which should make it extraordinarily interesting and fun should he defy all odds beyond his control, and return once more to gripeass the **** on out -- with naught but misery oozing from his very soul."

    Them guys will write most anythin', an' you would nevah question the plausible vs naht plausible vibe bcs you too distracted by the las' dumb thing you heard.

    Best you can do is figure flaps up or flaps down for the flight ahead -- an' head out to the horizon accordionly.

    Cordially.

    That is what I meant.
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  • Profile picture of the author Claude Whitacre
    Originally Posted by marc.v View Post

    Hey folks,

    I'm generating leads for a business broker. The goal is to find out of a business owner is open tot he idea of selling their business.

    Which industries in the $500k-$2m range are likely to have the owner answer the phone or respond to e-mail?

    Thanks!
    Those are small businesses. Retail stores with an individual owner will fall into this category.

    They always answer their phone, and the owner is usually there.

    And there is always a decent percentage that are currently thinking about selling their business.

    And by simply asking them if they know any colleagues that are thinking of selling their business, you'll stay busy. Every retail store owner knows other store owners that are thinking of selling. And thy have no reason not to tell you who they are.

    Small service businesses are good too, but it's much harder to get them on the phone.
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