Teaser / Blind Profile
A short marketing document (1-2 pages) describing a business for sale without revealing its identity. Used to generate interest from potential buyers while protecting the seller's confidentiality.
Definition
The teaser, also known as a blind profile, is the first document a potential buyer receives when a business is brought to market. In one or two pages, it lays out the high-level picture — industry, region, size, approximate revenue, key strengths — without ever revealing the business’s name or exact location.
In French-language Quebec documentation, you’ll see teaser (profil anonyme) used for the same concept.
The goal is twofold: generate interest with qualified buyers while preserving the seller’s absolute confidentiality at this early stage of the process.
Why the teaser matters in a business sale
Confidentiality is one of the most critical issues when you sell your business.
If your employees, customers, suppliers, or competitors learn prematurely that you’re in a sale process, the consequences can be serious: key staff departures, lost contracts, supplier pressure, or opportunistic approaches from competitors.
The teaser solves that problem by acting as a filter. Your broker sends it to a targeted pool of potential buyers — sometimes dozens, sometimes hundreds — without compromising your identity.
Only the buyers who show concrete interest after reading the teaser move to the next step: signing a non-disclosure agreement (NDA). It’s only after the NDA is signed that they receive the full confidential information memorandum (CIM) and learn which business is being sold.
The quality of the teaser directly influences how many buyers come forward and at what level. A teaser that’s too vague attracts no one; a teaser that’s too detailed risks revealing your identity.
It’s a balancing act your broker handles, maximizing responses while protecting your anonymity.
What every seller should know
- The teaser is drafted by your broker and approved by you before any distribution — you keep control over what’s shared.
- A good teaser gives enough detail to attract serious buyers (industry, size, profitability, region) without allowing your business to be identified.
- The process follows a strict order: teaser → buyer interest → NDA signed → full CIM delivered. No confidential information is shared before the NDA.
- If your business operates in a niche industry or a small market, the teaser needs to be written with particular care to avoid identification by deduction.