So – a friend of mine in the industry asked me to Broker his $5 million company for him – and of course I oblige, but it’s been a bit of a learning experience.
First and most importantly, in this little industry – it’s a real no no to announce you’re up for sale. Imagine the exodus of clients, vendors and staff if that were to happen. Instead, everything must be discrete. So, being as discrete as I could, I put the company up as a listing on GearSource.com and did a bit of fishing. We received MANY calls, most of which were from people in the industry also on fishing expeditions… “Who is it, why are they selling, just tell me the city, how many employees”. Basically any piece of info that would lead them to the whole truth.
Of course I gave little bits of info. Enough to keep people interested at least. For those “real” people who were genuinely interested in taking the next step, we drafted an NDA (Non Disclosure Agreement) for both parties to sign prior to open conversation.
I know many of you are in a similar situation. You’ve been slaving for your business for 10, 20, even 30 years – and would like to spend some time on yourself. I can assure you, based on the response and likely success we’ve seen with this company, there is definitely a market for mid-sized businesses.
So, when you’re ready – be sure to give me a ring. Maybe we can do the same for you.. and get some interest in your life’s work!
Marcel
GearHeads 