When It Comes Time to Sell Your Business

A BUSINESS BROKER CAN MAKE A VERY BIG DIFFERENCE IN THE RESULT. BY JEFF BACH

ave ran a large

Ddistribution company that he owned with his parents. He worked in the business all his life and he and the business were very successful. His parents had mostly retired, so all the responsibility of the operation was on Dave. Years prior he had started another company with a partner, and it grew to be even larger than the distribution company. Dave did well financially but he was worn out and was not getting to spend nearly enough time with his wife and two sons. Dave and his parents decided the best thing to do would be to sell the distribution business. Without much knowledge of the process, they contacted some companies in the same industry a little out of their geography. Several looked and one made an offer. There was a counter from the seller, but the prospective buyer did not act. The buyer seemed to be waiting the family out for a better deal. Next, Dave was contacted by my company Fusion Business Brokers. We met after hours at his place, and discussed Dave’s situation and the business. After gathering the proper information and understanding his objectives, I made a suggestion to Dave as to what price to list the business for. Dave and his family were pleased with that and listed the business with Fusion. We marketed it in various media and to my firm’s large list of qualified individuals and companies looking to make acquisitions. All the while keeping knowledge of the sale confidential. While it wasn’t a simple process and not without some hopefuls that didn’t work out, our marketing effort found Brian. He is a young man who had a successful corporate career but wanted more for himself and his family. He had looked at multiple opportunities and while this one wasn’t in his favored geography, it interested him quite a bit. When Brian was ready, I put Brian and Dave together and assisted through the process. That included discovery, negotiation, due diligence and financing. Both the buyer and seller felt that the knowledge Fusion and I brought was invaluable for making the sale work. There were some hurdles through the process, but I helped everyone navigate them, even with the additional challenge of putting a deal together during the Covid pandemic. While I helped get Dave’s family a sale price that was five times what the business was offered to the competitor for, everyone, including the banks, felt the price was very fair. All sides are happy with the outcome and are well on their way to accomplishing their life goals. Many business owners aren’t familiar with business brokers, and how they can help them when it comes time to sell. But once they find a good broker, they are more than pleased to have the guidance and the assistance. And while there is a cost involved for the seller, a good broker more than offsets the cost in the sale by the knowledge and experience they bring to the table. A business broker should be able to guide all parties through the processes and challenges of a business acquisition and transition.

JEFF BACH is a leading broker at Fusion Business Brokers, along with other top brokers in this area. Fusion Business Brokers combines the highest levels of technology, marketing and professional experience for your needs. With access to their large network of qualified buyers, Jeff offers the best opportunity to help you successfully sell your business. He only gets paid when you sell your business. Valuations are free and are the starting point to knowing when it is the right time to sell your business. Jeff can also help qualified buyers find and buy a business that meets their goals. You can contact Jeff for a free, confidential, no-obligation discussion about selling your business or buying a business at 314-941-8530, or by email at jbach@fusionadvantage.com. BUSINESS & FINANCE

57 CLM