Going Above and Beyond

While no business sale is ever simple, some are more intricate than others. When the sale involves a business that is built on personal relationships, provides professional business services to the private and public sectors, has limited hard assets, and is owned by a founding partner who wants to retire and a younger partner who plans to stay with the organization, complexity and delays are inevitable.

"As a seller I knew putting the right deal together wouldn't be easy. I've seen partnerships that were rushed through fall apart, even though they should have worked perfectly."

"As a seller I knew finding the right buyer wouldn't be easy. As a businessperson, I knew putting the right deal together would be even more challenging," says the founding partner. "I've seen partnerships that were rushed through fall apart, even though they should have worked perfectly. I needed to work with someone who got that."

"It was critical to be certain the business and its owners were really sale-ready. Taking the time to do that up front created a solid foundation for the deal."

Travis Kellett of Bridgepoint Business Brokers agrees. "I believe that good, solid business deals aren't just about numbers. Plus, in this case three parties had to be satisfied. If the arrangement didn't work well for everyone, it wouldn't work for anyone, which could ultimately jeopardize the entire business."

Kellett's first step wasn't a business valuation or marketing plan. He began by working with the current owners to identify potential issues and find solutions before a buyer was even at the table. "Before involving a third party, it was critical to be certain the business and its owners were really saleready," says Kellett. "It was also critical to define what the right buyer looked like. Taking the time to do that up front created a solid foundation for the deal."

"Even when he'd done more than we'd hired him to do, Travis stayed at the table and kept the process moving smoothly. That kind of loyalty really stands out."

While Bridgepoint's networks and marketing expertise connected with a "most-likely" buyer relatively quickly, the complex transaction still took two years to complete.

Kellett's dedication and loyalty made a lasting impression on the founding partner, who was grateful that, "… Travis stayed with us through the whole process, literally past the point where he was getting paid. Even when he'd done more than we'd hired him to do, he stayed at the table and kept the process moving smoothly. That kind of loyalty really stands out."

For Kellett, putting client interests first is part of providing a professional service. "You don't walk away when you know you can add value to a transaction," he says.

For Kellett, putting client interests first is part of providing a professional service.

Find out more about the ways Bridegpoint Business Brokers can help you through the process of selling or buying a business. Call Travis at 306-979-8750 or click to email Travis.