How much would you like to sell your business for? A recent success story by Steve Coast, Business Intermediary.
Last year I met with a business owner who was interested in selling the company. The owner came more prepared than most for our initial meeting, with financials in hand ready for review. After a brief look, I shared with the owner that it appeared to be a very sellable company and asked how much they wanted to net on the transaction.
Once again, the owner was meticulously prepared and offered a one page synopsis of how much was desired for the company, broken down by assets, inventory and other tangibles. After review, I told the owner our firm could do much better. Simply put, I recognized the cash flow of this company would be very attractive to the wide range of buyers and investors we market to. Ultimately there were more than 30 buyers interested in the business, and we sold it a few months later for more than $250,000 over the owner originally thought it was worth. Needless to say, everyone was happy at the closing table.
At the Crestone Business Group, we have many success stories from satisfied business sellers that have collected “the big check”. If the time is right to sell your business, or if you simply have questions about business acquisitions, give me a call or send me an email. Your inquiry will be handled directly and discretely.