In this video, I talk with clients Andy and Stacy about the benefits of receiving multiple offers. Although tempted to accept the first offer they received, Andy and Stacy held back. Essentially, the first offer was only a starting point.
Kelly identified and pursued about 25 buyers. In the end, Andy and Stacy’s business attracted 15 buyers and generated 11 Letters of Intent (LOI). We met with the Top 5 buyers in structured, face-to-face meetings. We further got to know the potential buyers through Zoom calls, phone calls, facility tours, off-site meetings, and research.
Because Andy and Stacy had multiple offers for their business, they had the luxury of being choosy. They evaluated each buyer’s values, portfolio, reputation, industry-related knowledge, and experience. Additionally, they evaluated the terms of the sale for each offer. The provisions of the multiple offers varied, making an apples-to-apples comparison difficult. Because of this complexity, Andy and Stacy couldn’t just go with a single provision, like the highest offer on the table. In the end, they chose the buyer that was the best fit for their business.
Fast-Paced Negotiations by an Experienced Advisor
Business owners who receive multiple offers face a demanding and fast-paced negotiation. If you provided all the information that Kelly requested quickly, this process typically goes well. Kelly leads clients through this process, focusing on the client’s best interests and what it takes to close the transaction. As an experienced M&A advisor, the Kelly Business Advisors Team helps business owners overcome any challenges enroute to a satisfying outcome. Contact Kelly Business Advisors today to discuss the future of your company, 920-737-2579.
