Business Brokers Tips #5 Profile your most valuable Customers
Extract from:
21 (honest & frank) Tips for Presenting your Business to Maximize the Selling Price:
Unlocking hidden assets – Your Customers (Part 3)
Tip 5: Profile your most valuable Customers.
Every business should know who their most valuable customers are. They’re the ones that come regularly, spend the most, and bring other customers.
Create a one page profile on each type, each company or even each person. Include what they like and don’t like, which table do they like to sit at, what their favorite dishes or wines are, how often come.
It’s ok to show a potential buyer a sample of the information you have in the profiles and tell them how many you have – but don’t let them see it all. Only release these once they take possession.
Steve Swann is a Specialist Hospitality Business Broker working with cafe, restaurant, bar and country pub Owners in the lower North Island.
This work is licensed under a Creative Commons Attribution-Noncommercial-Share Alike 3.0 New Zealand License
