He had decided to sell and had sent information to his competitors and others within his industry offering his company for sale. Shortly thereafter many customers stopped coming in. Twelve months later business is almost back to normal. Many companies have not survived this mistake. Suppliers extend credit to your business because of your good payment record over the years.
Bankers have a healthy skepticism of small business.
They know that a very high percentage of small businesses fail. Customers may lose confidence and decide to trade elsewhere. In summary, sell it but don't let anyone know it's for sale. They admitted that although they didn't know what the business was worth, they knew what they wanted for it. Buyers don't know what they want to buy An overwhelming majority of buyers come to us and profess to be in search of either a light manufacturing opportunity or perhaps a distribution company.