How Do You Protect Confidentiality?
Protecting the confidential nature of the sale is priority #1 for us! However, because you are likely a franchise, there are a lot of other people out there that are involved with your sale and the more people that are aware of it the higher the propensity that a breach of confidentiality could occur. You just need to know this going in because it doesn’t matter if you are a $200,000 priced business or a $50,000,000 business, breaches of confidentiality do occur. Most people won’t tell you this, but once you put your business out there it’s like a bell you can’t un-ring. Know this going in and manage accordingly. We have a strong Non-Disclosure Agreement (NDA) and many notices on documents and emails that discuss this and we tell our buyers verbally as well. There is a lot more to this topic that bears serious reading, including THE #1 reason for breaches of confidentiality for franchises. As this is a sensitive subject please go to our “Why Blue Stone” section to dive into this area further.