When buyers call first, how should you respond?

In 2025, unsolicited approaches from trade buyers and private equity have surged, often long before owners actively consider a sale. With buyers highly active, well-capitalised and competing for specialist capability, it’s no surprise that more owners are being contacted directly. But when that email or phone call lands, most founders ask the same question: What should I do next? 

The first offer is rarely the best 

A direct offer means your business has qualities buyers value. But it also creates pressure to respond quickly, often before you’ve explored your options. The first offer is rarely the best. In many cases, the buyer knows your business well - perhaps a customer or supplier - but familiarity doesn’t guarantee they’re the right long-term partner, and the opening price is almost never the final price. You wouldn’t sell your house to the first person through the door; why treat your business any differently? 

Bilateral vs Full Sale 

Unsolicited approaches often lead to a bilateral process, a one-to-one negotiation with the buyer who made the first move. This can feel faster and less disruptive, but exclusivity shifts power to the buyer. With no competition, leverage erodes, and terms can tighten late in diligence. Bilateral deals aren’t always wrong; they can work when speed and confidentiality matter. The key is understanding the trade-offs before committing. 

By contrast, a structured sale process creates competitive tension and keeps control with the seller. Multiple bidders don’t just drive price, they give owners choice, protect value, and reduce risk if one party changes terms. Selling your business should never feel like a one-horse race. A well-run process ensures clarity, leverage, and the ability to compare not just price, but deal structure, timing, and cultural fit. In fact, over 50% of Heligan transactions are completed with a buyer previously unknown to the seller. 

Why you need an advisor  

Running a sale process is a full-time job, and most founders already have one. Preparing financials, managing diligence, negotiating commercial terms, and keeping the business performing can be overwhelming. Our role is to ensure you retain options and negotiating leverage. Once exclusivity is granted, power shifts to the buyer, so before that point, we work to secure the best terms and keep other bidders engaged to maintain competitive tension. 

Many owners underestimate the emotional toll of selling a business. A transaction process inevitably brings highs and lows, and having an experienced advisor to guide you and act as a bridge between buyer and seller is critical. Negotiations often involve difficult conversations that can trigger emotional or reactive responses. An advisor helps maintain objectivity, ensures relationships remain constructive throughout, and protects goodwill for relationships post-transaction. 

Straightforward advice 

Many first- and second-generation owners started on the tools and built businesses through entrepreneurial drive. Our job is to make a complicated process feel simple, no jargon, no unnecessary formality, just clear advice. 

The moment you receive an approach is an opportunity, not a commitment. It’s a chance to pause, reflect, and decide whether now is the right time, whether the buyer is the right partner, and what your exit could look like with a structured process. The right advice at the right moment can turn an unsolicited email into a great outcome.