There is no denying that the Corona Virus Pandemic has dramatically changed the way we live and the way we do business. However, the Harvest Business team is encouraged that business transactions are continuing, although they are being handled slightly differently.
Case in point: Harvest Business Advisors Partner Richard Stopa recently held a buyer-seller meeting with seven people, with social distancing and other CDC recommended best practices incorporated.
A very interested buyer wished to meet with the owners of a Virginia accounting practice that Richard represents. The first inclination might have been to postpone the meeting or conduct the meeting virtually.
However, the buyer is eager to move the potential purchase of the business forward. Richard was happy to work out arrangements that helped the buyer learn more about the business and also gave everyone involved a degree of comfort in conducting a face to face meeting.
The meeting took place on a Saturday when the sellers’ employees were not in the office so as to maintain the confidentiality of the potential transaction and also reduce the number of people in one setting.
The buyer party and seller party, along with Richard, met in a very large open area of the sellers’ office where there was plenty of air circulating. All parties maintained proper social distancing (in this case actually 8 to 10 feet instead of the recommended 6-foot distance). We provided ample hand sanitizer, disinfecting wipes and other cleaning products. All parties, of course, wore face masks.
The only real difficulty was the limitations of the face masks. The parties couldn’t see each other’s entire faces (and expressions) and the masks muffled the conversation a bit, a minor inconvenience.
All told, the meeting was very positive. And the transaction will continue to move forward.
This meeting proved that business with our clients can be successfully conducted during a pandemic as long as all parties are cautious, flexible and open-minded.
Look for the transaction to be announced here in the near future.
And, if you would like to discuss any of the current business listings Harvest has posted or chat about listing your business for sale, we are ready to move forward with you.
This article was written by Richard Stopa, Harvest Business Advisors.
Clients choose Harvest Business Advisors for our accurate business valuations and our proven ability to deliver the highest price in the smoothest sale transaction possible. Harvest Business Advisors provides business brokerage, business valuation, and business succession planning services. We have extensive experience in the information technology and professional services, manufacturing, distribution, and contracting fields. We maintain offices in Maryland, New Jersey and Virginia. Connect with us at firstname.lastname@example.org or 877-838-4966 to discuss selling your business, ordering a business valuation or buying a business.