30 Nov Business Exit Stories: 5 Years, 5,000 inquiries, 5 Full Price Offers, and a Deal at the Closing Table, and Guess What Happened?
Terry became a business intermediary because of his experience as a business owner when he bought, scaled up, and sold a manufacturing business.
An almost unbelievable story of a business listed for five years, one that generated over 5,000 inquiries of interest in the business, primarily because the business was a solid business with a long track record; however, the business’ big problem was that it had a vendor and revenue concentration issue. It persevered and finally got an excited and motivated buyer to the closing table. But the outcome is surprising.
A thirty-year business that was a cash machine was listed for sale because the owner was burnt out. Yet, with multiple buyers ready to pull the trigger and make offers on the business, greed took over and lost the seller $5 million dollars.
A transaction where a business was able to get multiple offers at a much higher valuation than expected.