How & When To Sell Your Brand For A $10M Payday
Capitalism.com with Ryan Daniel Moran
Capitalism.com
4.8 • 793 Ratings
🗓️ 18 January 2018
⏱️ 53 minutes
🔗️ Recording | iTunes | RSS
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Summary
Full show notes at https://freedomfastlane.com/
You’re scaling your business up in value. Well done!
Have you considered how much it’s worth?
You should.
You may not want to sell your business now, but if you don’t take a good hard look at how much it’s worth, you may be overlooking something important.
You may be overlooking the most valuable asset you’ve ever held. And at a better time than ever to think about its value.
It’s a seller’s market for businesses right now. You can sell a seven-figure business for at least a 3-4.5 multiple, depending on how well organized the business is and the strength of its brand.
Sounds exciting, right? It is, but it can be complicated. There are a lot of things you need to take into account when selling your business.
An interested investor will start off with a formal Letter of Intent to purchase your business, proposing how the sale may go about. They’ll want to look through your books, to see how organized the company’s financials are. They’ll check to see if you’re holding any valuable intellectual property.
In general, you’ll be looking to go through an extended due diligence process, while also keeping your business up-and-running throughout the transaction. Not an easy thing to do.
Luckily, brokerage firms like Logan Chierotti’s Bizsold help facilitate the entire process for entrepreneurs. Even if you’re not looking to sell at the moment, Logan’s got lots of useful information for us about the process!
Key takeaways:
- You could be sitting on millions of dollars that you haven’t noticed
- You can get those millions by selling your business
- Logan Chierotti runs us through the process
Connect with Logan
Find out more about Bizsold at https://bizsold.com/
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Connect with Ryan
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Transcript
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| 0:00.0 | The market right now is a complete seller's market. There's so much money in the economy floating around when interest rates are so low that people with a little bit of extra wealth and they're looking to invest that money, you know, looking at the stock market, looking at real estate investments. The returns right now are just lower than they've been in my entire life. So people are looking to put that money into businesses |
| 0:21.9 | and take on a little more risk and get a little more return. So it's a really hot market for |
| 0:27.2 | sellers right now. There's much more buyers than there is sellers. You're listening to Freedom |
| 0:36.0 | Fastlane presented by Capitalism.com. |
| 0:38.4 | This is the show about building businesses and investing the profits so that you can live life on your terms. |
| 0:46.8 | And now your host, the future owner of the Cleveland Indians, Ryan Daniel Moran. |
| 0:57.4 | Hey, Fastlaners, Ryan Daniel Moran here. |
| 1:01.4 | And today I'm going to be talking about selling your business. |
| 1:06.0 | If any of you have a business that is, you know, at or near that million dollar point or above, |
| 1:15.1 | you might want to start thinking about the payday that you are going to get at the time that you |
| 1:23.5 | decide to sell. And for a lot of you, that might be sooner than later. Right now, things are |
| 1:29.2 | great. I think we're in the ideal time to sell a business. There are more buyers than there are |
| 1:36.0 | sellers right now. It definitely factored into my decision to sell in 2017, and now I'm set for life and yes I could have continued to operate the |
| 1:49.0 | business and grow the business and and grow and and do all the things I was doing but times are |
| 1:56.7 | special right now and I think it's time if you run a seven-figure business or an eight-figure |
| 2:01.6 | business to think about cashing in some chips. You can always start another business. And the |
| 2:08.2 | person that I'm going to be chatting with today does this full-time. His name is Logan Corroti, |
| 2:13.8 | and his runs a business called bizsold.com. Obviously, he's a little bit biased in |
| 2:20.0 | terms of should you sell your business or not because it's what he does for a living. But he's |
| 2:24.2 | also done this three times himself, meaning he's grown businesses and sold businesses. And I have |
| 2:29.9 | found that there are not a lot of brokers. there are not a lot of people in the marketplace |
| 2:35.5 | who are willing to educate physical product sellers and brands about what does it look like |
... |
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