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Finding A Buyer For A New Type Of Business

The Question

My business is a somewhat unique concept and does not fall directly into any one category. It is a "Drop in playplace" for young children. Children’s birthday parties are also a key component of the business, in addition to what we call "Open Play". The playplace provides recreational play (that is also educational) for young children. The offerings are similar to what one may find in a children’s museum, but on a smaller scale. What suggestions do you have for maximizing the chances of finding a potential buyer who is looking for this new type of business?

The Answer

Here are a couple things to keep in mind about business buyers.

First of all, there are many very qualified buyers out there who don't know what type of business they want to buy yet. And secondly, many buyers wind up buying a business that is completely different than what they planned on buying in the beginning. My point is that your potential prospects are not just limited to people who are currently looking to buy a "Drop in play place for young children". There are buyers though who have a very general idea such as, "I don't know exactly what type of business I want, but I want something related to children". That could wind up being a day care center, a retail clothing store, a service that plans children's parties or a number of other types of businesses.

So you don't want to cut yourself off from all these prospects by narrowing your appeal too much too soon. While your business concept may be new and untraditional, buyers will be searching the Internet using more general and traditional terms such as, "education", "recreation" or "child care".

Since your business is a new concept, buyers won't know how to search for it so you must start by casting a wider net. So, advertise your business using the terms and phrases that are already popular and widely known to the general population and once buyers find your ad, you can then explain what makes your business so unique and special.

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