Sales Timeline: 18 months List Price: $3.65 million The Background Lake Region RV in Ramsey, MN, is not your typical RV lot. Where you might imagine pop-up tent trailers going for $15–20K, Seth Pasch and his team specialized in high-end adventure vans, or “Class B” RVs, ranging between $100–200K.
Sales Timeline: 7 Months The Background Professional Wireless Communications. Inc. (PWC) has provided reliable and affordable two-way radio solutions in Minnesota and Iowa for 25 years. The company has a loyal and diverse clientele, from schools and hotels to casinos and stores. Pat and Paula Green, a husband-and-wife duo, started the business from scratch. With Mark, their salesperson and 20% owner, they have built a profitable and reputable enterprise. As they neared retirement, the Greens wanted to sell the company and focus on family. Mark also desired to sell, but remain employed by PWC.
Sales Timeline: Less than 4 months Sale Price: $320k The Background Located in the Twin Cities, the owner of Whiskers to Tails Petsitting had proven to be a successful entrepreneur focused on providing care for animals in the home. As a former employee, the owner took over the business in 2019 and successfully operated it through the COVID-19 pandemic.
Homebuyers are familiar with the mantra—location, location, location. Well, for a business owner looking to sell their business, there’s an equally important phrase to remember—timing, timing, timing.
When you have a business that you're wanting to sell, do you really know what is required of you? How do you really know you're ready? Is it something you've thought through and have prepared yourself for? Selling a business is a different caliber of selling, and there are so many details to consider. While you may think it is just a simple task, it's so much more than that. There are a lot of things that you should be thinking about, and one of the very first is the possible methods for selling a business.
As a business owner, you have likely spent hours, days, months or even longer agonizing over whether to sell your business. While in a perfect world the hard part would be over, the reality is making the decision to sell is simply the first step in a complicated process.
You’ve made the decision to sell your business. Congrats! There’s no doubt that a lot of stress is wrapped up in deciding to sell, but there’s also a great deal of excitement. As a result, it can be very easy, especially for first-time sellers, to forget that selling a business is a multistep process, requiring careful planning to maximize your potential returns.
If you’ve ever bought a house, you know that the appraised value isn’t what the house typically sells for in the end. It isn’t even what the sellers will use as the listing price in most cases. Most houses sell for a price that is more (or less) than what the seller asked for it. The same holds true for a business being sold.
How to Identify Trustworthy Buyers For many entrepreneurs, selling a business is about more than money—it’s about passing down a legacy. After years of hard work, it’s only natural to want to see your creation in the hands of someone who shares your passion. However, finding that perfect “someone” can be a challenge.