After nearly 3 years of doing his podcast, Marvin has been faced with an opportunity to pursue his post-exit dreams. Listen to Marvin explain the importance of having a post-exit plan, his thoughts on the podcast thus far, and his plans for the future of the podcast. While the podcast may be on pause, for now, there is an endless archive of shows for you to listen to and continue to educate yourself on how to maximize the value of your business. As the web developer and producer of Marvin’s podcast, it has been a pleasure working with him and creating the podcast. It has been very amazing to watch it evolve into what I think is the best podcast for encapsulating the dos and don’ts for a business exit. Not just from the perspective of the business brokers who facilitate these deals, but also from Marvin’s ability to process this information and present it to you in an easily digestible form. I learned quite a lot. Marvin L. StormBXAdvisorsCaliforniaVisit WebsiteSend E-mail

An offer was made on a client’s business by a strategic buyer and through the application of both skill and using the strategic buyers own financial metrics convinced the buyer and their advisors that it was to their benefit to pay not two or three, but four times more than their original offer to acquire his client’s business. A race car driver took his skills from the racetrack into the board room and built a successful company that became well known in the aftermarket auto performance industry where the need for speed is important, and to make a bundle of money doing it. However, as with a lot of entrepreneurs that have a specific skill set, the managerial complexities often overtakes them when the rigor of managing a growing business is not in their wheelhouse. When this happens, burnout can set in. An event planning business had a more than fair offer on the table but the entrepreneur hesitated and didn’t take the offer because he felt he could get more for his business. Shortly after turning down this offer, their revenue dropped over 95% because of unforeseen circumstances. Although the business survived, it is going to take years for the entrepreneur/founder to rebuild his business. A difficult task for someone in their sixties. Also, on this episode I have invited Diana Murphy, a mindset business coach, to join me to help me do a deeper dive into how entrepreneur/founders can optimize their value of their business when positioning it to sell.  Be sure to listen to my post-mortem discussion with Diana at the end of the podcast. Bob Tankesley Neri Capital Partners Atlanta, Georgia Visit Website Send E-mail <a class="a2a_button_reddit" href="https://www.addtoany.com/add_to/reddit?linkurl=https%3A%2F%2Fbusinessexitstories.com%2F2022%2F06%2F01%2Fhow-a-sales-price-went-from-1x-to-4x-wi...

An importer of garden plants and supplies that was growing at an intense rate and making tons of money still couldn’t get their business sold or find a buyer until an advisor approached the problem and came up with an interesting solution. A third generation security and door hardware distributor that was the premier value-added distributor in the industry and was charging double what their competitors were charging. With help from an advisor, they were able to leverage trade secrets that even the current third generation owners didn’t really understand to get a sky-high valuation for the company.&nbsp; Michael Richmond The DAK Group Rochelle Park, New Jersey Visit Website Send E-mail

A company that manufactured orthopedic implants for pets&nbsp;was growing and profitable. However, getting this company positioned for an exit and finding the right acquiring company proved to be an extraordinary challenge that required some insightful thinking. Two women 25 years ago open a small retail bakery that makes sweets in the form of cookies and muffins. They opened their first bakery shop in Harlem in NYC and over time grew their cookie and muffin business to six locations. They were approached by a Private Equity Group who made a great offer. With the help of an advisor it increased the offer by nearly 40% seemingly out of thin air. Michael Richmond The DAK Group Rochelle Park, New Jersey Visit Website Send E-mail

A business that was given birth after the breadwinner in the family was laid off. To make ends meet, the breadwinner’s wife started cleaning houses. Because she was allergic to many of the chemicals that are commonly used in household cleaning supplies, she began to use organic cleaning supplies and then promoted her organic orientation on social media. The business exploded and then after building a highly successful business they decided to sell. To their surprise, even though they were making a lot of money and had sales and profit growth year after year, they couldn’t get an SBA loan approved. A entrepreneur with multiple streams of income didn’t file their income taxes separately for each business and it cost them the ability to get their sale financed with an SBA loan. Find out why. Linda Broom Transworld Business Advisors Dallas / Fort Worth Central, Texas Visit Website Send E-mail

A family-owned retail produced market that procured its fruits and produce from local growers. The family had operated the business for 10 years and as the kids got older and started to leave for college, they didn’t plan on continuing to work in the business. Which is a common theme for many family-managed businesses these days. One of the stipulations that the seller required was how long they would stay and be available for training. This stipulation triggered the domino effect. An entrepreneur did all the right things to position their business for a successful exit. However, as is often the case, one critical thing was overlooked regarding key employees that nearly cratered the sale at the last minute. Linda Broom Transworld Business Advisors Dallas / Fort Worth Central, Texas Visit Website Send E-mail <a class="a2a_button_reddit" href="https://www.addtoany.com/add_to/reddit?linkurl=https%3A%2F%2Fbusinessexitstories.com%2F2022%2F04%2F25%2Fpart-one-linda-broom-the-one-thing-you-cant-forget-when-selling-a-business-if-you-do-it-can-cost-you-big-time%2F&amp;linkname=Part%20One%2...

A fitness business franchisee of a national franchised fitness center accepted an offer from a qualified buyer. While excited to be stepping away from his business as he had other business opportunities he wanted to pursue, he made an interesting terrible decision before the business sale closed escrow. A buyer for a 19-unit fitness business hired a firm that specializes in performing due diligence for buyers and invested over $100,000 with this firm. Normally, when a buyer invests this much money into doing due diligence in a transaction, they are generally very committed to seeing the transaction through to closing. Things turned out quite differently. Some franchisees of national brands such as McDonalds often acquire other franchised brands due to a secret of having a multi-brand strategy.&nbsp; Why franchisors often are unable to help their franchisee partners exit their business and why franchisees are often better off finding an expert to help them sell their business vs. the franchisor. Jon FranzFranchise ClearlyWinter Park, FloridaVisit WebsiteSend E-mail

A family-owned business that had been successful for decades was turned over to the founder’s son. While succession planning was a part of the long-term plan for the founder, the execution of the plan didn’t go as planned.&nbsp; Two companies with similar issues when being positioned for sale and how the two founders handle their exits in dramatically different ways and with equally as dramatic results.&nbsp; How fraud by a partner nearly bankrupted a company but because the right things were done to build creditability and trust with buyers, the company had several buyers lined up to purchase the company. Mike KendallKendall Capital GroupChesterfield, MissouriVisit WebsiteSend E-mail

A major league baseball team was brought to Denver and the details of how a transaction like this goes forward.&nbsp; A hyper growth company that was doubling sales every year outgrew the capabilities of some members on their management team. An owner often tries to show loyalty and does everything possible to keep those that helped build the company in the early stages employed with the company. A family tragedy forced the wife, who was a marketing director for a company, to become the CEO, a position she wasn’t trained to do. As CEO she turned down an acquisition offer and the outcome will surprise you.&nbsp; A company founder was able to sell his company to a large multinational firm for a bundle and then buy it back for pennies on the dollar five years later. Bill ShenkinCeFO Inc.Englewood, ColoradoVisit WebsiteSend E-mail

A partnership business went from a consistent year over year growth rate to a valuation of zero in a few short years. A&nbsp;family owned 30-location retail service business that had passed to the second generation. As it came time for the third generation to decide if they were interested in taking over the business, several of the minority shareholders sold their shares. How a businesses during the pandemic when listed for sale had ample suitors for their business and how they decided on which buyer they wanted to carry on the legacy of the business with and finally accepted an offer that wasn’t the first or best offer. A consulting business which is normally a more difficult business to sell because the consultant often builds the business around them. This entrepreneur found out a way to optimize their exit. Van DaughtryVan Daughtry Consulting, LLCRaleigh, North CarolinaVisit WebsiteSend E-mail <a class="a2a_button_reddit" href="https://www.addtoany.com/add_to/reddit?linkurl=https%3A%2F%2Fbusinessexitstories.com%2F2022%2F01%2F24%2Fhow-two-partners-in-a-successful-and-growing-business-managed-to-take-it-to-zero-when-they-decided-to-sell%2F&amp;linkname=How%20Two%20Partners%20in%20a%20Successful%20and%20Growing%20Business%20Managed%20to%20Take%20It%20to%20Zero%20When%20The...