Buyer Behavior

By By Glen Cooper, CBI, CBA, BVAL

Buyer Behavior: Only 1 in 40 Buyers Buy!

The most surprising statistic for sellers of businesses is that only 1 in 40 buyer prospects will ever buy!

There is a sobering message contained in this data: if you don’t have a skilled business broker screening your buyer prospects, you may find yourself in endless meetings, giving out confidential information to way too many strangers!

Providing confidential exposure to multiple prospects, already well into their search, and then finding just the right buyer for each business, is how business brokers earn their money.

This ‘1 in 40’ figure has been about the same for years. 60% of initial contacts are tire-kickers, competitors, curiosity seekers or clearly unqualified. The other 40% are sincerely interested, but may still not be qualified.

Being qualified means having enough time, money, experience, and courage to move ahead. Only 1 in 40 have this combination in place.

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