Other FAQs

Edited

My business has multiple owners, can we all access to the Baton platform?

Yes! Multiple owners can access the Baton platform, but this must be arranged during the onboarding process. Simply request access for additional owners through your account executive or reach out to help@batonmarket.com, who can then ensure your partners are added to our system. While all owners will be able to log in, manage the listing, and receive communications, our platform currently displays only one owner on the buyer-facing profile.

How do buyers usually finance a business purchase?

Buyers often use a combination of personal savings, bank loans, SBA (Small Business Administration) loans, seller financing, or private investors to fund the purchase. We guide both you and the buyer through this process to ensure financing is secured.

How will I be updated on the progress of my listing?

Your Seller Dashboard provides a detailed overview of all key buyer activity, including the number of leads our team contacts, buyer engagement metrics, and feedback from interested parties. You'll also see any buyer questions and scheduled meetings, ensuring you stay up-to-date on interactions. This tracking helps you understand the level of interest and progress throughout the sales process.

What happens if I change my mind about selling?

You can decide not to sell your business at any time, even after receiving offers. However, once an LOI or APA is signed, you may be subject to penalties or legal obligations depending on the terms. We recommend discussing any concerns with us before making a final decision.

Should I continue running my business during the sales process?

Absolutely. It’s essential to keep your business operating as usual, as maintaining stable performance will help keep it attractive to buyers. We handle the sales process while you focus on running your business.

How do I handle confidential information when sharing documents with buyers?

We ensure confidentiality by requiring all buyers to sign an NDA before accessing your data room. Additionally, we’ll guide you on what information to share and how to protect sensitive data throughout the process.

What happens if a buyer backs out during due diligence?

While uncommon, if a buyer decides not to proceed, we will quickly reconnect with other interested buyers and relaunch your listing to ensure the sales process continues smoothly.

Can I negotiate the exclusivity period in the LOI?

Yes, the exclusivity period is negotiable. We can help you determine the most suitable duration based on the buyer’s commitment and how long you’re comfortable being off the market.

What should I do if I receive multiple offers at the same time?

Receiving multiple offers is a great position to be in! We will help you review and compare the offers, negotiate the terms, and ensure you choose the best deal for your business.

How do I prepare for buyer/seller meetings?

We’ll guide you on how to present your business, answer common buyer questions, and highlight your business's strengths during meetings. It’s essential to be honest, transparent, and ready to showcase what makes your business unique.

What if my business relies heavily on me as the owner?

If your business depends on your expertise or involvement, it’s essential to develop a transition plan. This might include training the buyer, documenting processes, or gradually reducing your involvement. We’ll help highlight this in a way that reassures buyers.

How does Baton ensure my listing reaches the right buyers?

Our outreach team uses a combination of targeted marketing, our network of over 8,000 buyers, and strategic partnerships with business-for-sale platforms like BizBuySell. We work to connect your listing with buyers who are the best fit for your business.

What can I do to make my business more appealing to buyers?

Maintaining clean financial records, addressing any operational inefficiencies, and having a clear growth plan can significantly increase your business's appeal. We’ll provide recommendations to enhance your business’s attractiveness throughout the sales process.

How will I know if a buyer is qualified to purchase my business?

We perform initial buyer qualification checks, including assessing their financial capability, experience, and seriousness about purchasing your business. For more detailed qualification (not available for Lite), we arrange calls and meetings to evaluate their suitability further.

Do I need a lawyer to sell my business?

While not mandatory, we highly recommend working with a lawyer, especially when drafting or reviewing legal agreements like the LOI and purchase agreement. We can recommend trusted legal professionals if needed.