What makes buyers offer less?
| Factor | How it affects offers |
|---|---|
| Valuation evidence | Buyers price what they can verify, not forecasts alone. |
| Risk discount | Owner dependence and concentration reduce what buyers will pay upfront. |
| Structure | Deferred or contingent elements can make headline and cash differ. |
| Working capital and debt | Adjustments at completion can reduce the net amount. |
| Market conditions | Finance costs and sector sentiment affect pricing. |
| Competitive tension | A single bidder has little reason to improve its offer. |
What can improve the offers you receive?
- Reduce the risks buyers keep raising
- Present earnings evidence clearly
- Widen the buyer universe to create genuine competition
- Consider whether structure could bridge a value gap
What should you do next?
- 01Lay the offers side by side and compare cash at completion.
- 02Note the reasons each buyer gave.
- 03Identify which risks are fixable.
- 04Decide whether more buyers, better evidence or a different structure is needed.
Find out why before you simply try again.
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Take the Fresh Sale ReviewOff-market · Confidential · What to do when a business doesn't sell
