If you’re the owner of a high-value business, you’ve probably thought about selling it at some point or another. Maybe you’ve been curious about just how much your business could be valued at, or where you might find potential buyers.
Selling a high-value business requires a targeted approach. You want to be sure you are speaking to potential buyers who have access to the necessary funds, the right experience and are committed to the deal. Here at BusinessesForSale.com we take pride in only providing sellers of high-value businesses with the best leads – taken from our database of over 9,000 vetted buyers.
LarcomMitchell is a manufacturing business based in Ohio, USA which signed up to our premium Buyer Qualification Service in March 2024. With the ongoing support of a dedicated deal facilitator at BusinessesForSale.com, they completed their sale just six months later.
How to Streamline a High-Value Business For Sale
LarcomMitchell produces specialized equipment for maintaining horse racing tracks – a market in which they have very few competitors and high levels of brand awareness. Co-owners Chuck and Debra Young took over LarcomMitchell six years ago, and streamlined its operations significantly.
“We made major improvements to the manufacturing processes, which helped us cut costs,” says Debra. “We introduced CNC machinery to automate things which were being done by hand in an inefficient way. This meant we could ship readily and didn’t need to hold a lot of inventory.” As well as bringing costs down, the team at LarcomMitchell focused on increasing the brand’s reach and image. “My daughter came in and helped us a lot, with some great marketing that really helped build the business up from where it was,” says Chuck.
All of these improvements helped bring the profitability of LarcomMitchell up, and made it a more attractive prospect for potential buyers. As Chuck and Debra approached retirement, they decided now was the right time to find a new owner for the business.
“We found BusinessesForSale.com online,” says Chuck, “when we were looking for an alternative to a full blown business broker. We used a broker previously, but it wasn’t the right fit for us - he gave us quite a few leads that didn’t have the cash, and just didn’t understand what we were doing. But working with BusinessesForSale.com was very different.”
Facilitating the Deal
Chuck and Debra worked closely with Nick Pili, Vice President of Mergers and Acquisitions, who oversaw their deal from start to finish. Nick carefully selected only the most relevant leads, and helped facilitate conversations between both parties in a thorough and confidential way. “I was really happy with Nick, he did a great job,” says Chuck. “I thought he might be a little more hands-off, but when it became appropriate he would jump in there and ask the right questions and point our buyer in the right direction.”
Nick provided Chuck and Debra with a number of leads once the sign-up process was complete. According to Debra, “80% of the leads we received at the beginning were right on the mark, and we ended up selling to one of the first five people Nick introduced us to. It was a really smooth process throughout.”
Alongside providing leads, Nick also helped prepare LarcomMitchell for sale using BusinessesForSale.com’s ValueRight tool. ValueRight provides an accurate and thorough assessment of any business’ value, and it helped Chuck and Debra ensure they had set the right asking price.
Speaking about the sale, Nick said: “We were delighted to be able to help Chuck and Debra sell their business at 94% of their original asking price – securing them a great return on all their years of hard work.”
Elaborating on how the Buyer Qualification Service works, Nick added: “We’re all about providing only the most high quality leads. The business owners we work with are busy people, and we don’t waste their time. With a database of thousands of vetted buyers, we can search for entrepreneurs who closely match the seller’s profile. We then work alongside those buyers to help ensure the business is a good fit for them, speeding up the process of generating offers and Letters of Intent for the seller to consider.”
Enjoying the Fruits of Retirement
So what are Chuck and Debra’s retirement plans now they’ve successfully sold their business? “Honestly, we’re still adjusting to not running a business,” says Debra. We’ve had several businesses during our lifetime. For now, we’re just relaxing and enjoying the break, before we figure out what we’re going to do next Spring.”
Are you the owner of a high value business and interested in learning more about our Buyer Qualification Service? Reach out to Nick at [email protected] and we can help find you the perfect buyer.
