Advice for first approaching a biz?

by a searcher from Swarthmore College

3 weeks ago

HI All,

First-time searcher here. I identified my first target, and getting ready to approach them with an initial conversation. I know the owner personally from being a customer for several years. 

Does anyone have any tips on best practices for this initial conversation?

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5 comments

intermediary from Harvard University

Hi Andrei, because you already have a personal relationship with this person, I would ask them to lunch to have this conversation. Tell them about how much you like their business and respect what they are doing and that if there is ever an opportunity, you want to be first in line to buy the business. You can talk about how and why you want to buy a business and why theirs is the perfect fit, but if they don't seem receptive to the conversation, I wouldn't push too hard. Do some research on the industry beforehand so you can ask about industry trends and sound knowledgeable as well.

3 weeks ago | like reply | 1 like

searcher from Northwestern University - Kellogg School of Management

Hi Andrei, I’d be more than happy to chat and answer any questions you have! Please reach me out at --@----.com

3 weeks ago | like reply | 2 likes

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