Andy and JT welcome you to another episode of The Deal Board Podcast. In this special 'government shutdown' edition, Andy sit down with a panel of Transworld leaders — Aaron Fox (Boston, MA), Samuel Curcio (Manhattan, NY), Scott Hislop (Minnesota), Diane Hartz Warsoff (Utah), and Johnathan Choe (Ohio / Los Angeles / Oregon) — to break down how the SBA loan portal shutdown impacts business buyers and sellers. The group explains why lenders cannot fund without an SBA loan number, how IRS pulls and other federal services create delays, and what end‑of‑year timing means for underwriting, leases, and re‑approvals. They also share real-world stories, discuss their concerns around companies with government contracts, and explore why some people expect a week of 'chaos' when systems reopen. Finally, the panel offers practical steps owners can take to keep documents current, push legal work forward, and ways to contact their representatives to help stop the closure. Tune in for a clear look at what is happening in the market right now and what owners need to do to keep deals on track.

Listing of the Week:

Addison Goldin, from Transworld Business Advisors of Fort Lauderdale, presents a long‑running sign shop in Miami, a classic 'baby‑boomer' business opportunity. The company has been operating for over 35 years with a stable team and approximately $150,000 in owner's earnings (SDE). The asking price is $360,000 and includes a bucket truck, production equipment, and robust franchisor training and support. The seller is willing to provide meaningful transition support and is open to solid seller financing; the business could qualify for SBA financing. For more information, contact Addison at (954) 289-2115 or [email protected]. Deal of the Week:

Chris Redmond, from Transworld Business Advisors of Orlando, closed the sale of a commercial cleaning company. The business had lost a major client (nearly 90% of revenue) last year, but the seller rebuilt accounts, enabling a successful exit. The deal involved an E‑2 visa buyer relocating to the Orlando area, a co‑broker arrangement with a local BBF broker, and a cash transaction. The sellers are heading to Philadelphia to spend more time with family. For more information, contact Chris at (407) 326-6990 or [email protected].

Key Takeaways From This Episode:

• [00:00] Overview: the federal government shutdown and its impact on SBA-backed deals.

• [03:40] Why banks cannot fund without a number from the portal since its closure.

• [06:01] Complications around lease timing and the risk of deals rolling past year‑end.

• [07:36] Unpack the impact of the inevitable 'week of chaos' when systems reopen.

• [08:55] Issues around tax returns and why banks will not accept returns from the seller.

• [10:22] Explore why many deals could slide a week or two and still close without issues.

• [12:41] Find out about the unintended consequences of the closure on loans.

• [13:26] Findings from an SBA report on the amount and implications of loans on standby.

• [14:28] Hear practical solutions to help small business owners navigate the closure.

• [17:55] Deal of the Week: Chris Redmond (Orlando) sold a commercial cleaning company to an E‑2 visa buyer with cash and co-brokered.

• [19:08] Listing of the Week: Addison Goldin (Fort Lauderdale) is selling a Miami sign shop, which includes franchise training and seller support.

Links Mentioned in Today's Episode:

The Deal Board Podcast

Subscribe to The Deal Board Podcast YouTube Channel

United Franchise Group

Transworld Business Advisors

Transworld on LinkedIn

Transworld on Facebook

Call us — (888) 719-9098

Email us [email protected]

Aaron Fox

Samuel Curcio

Scott Hislop

Diane Hartz Warsoff

Johnathan Choe

The Small Business Administration (SBA)

'SBA Releases State-Level Analysis of Shutdown Impact on Small Business Lending'

Addison Goldin

Addison Goldin on LinkedIn

Chris Redmond

#thedealboard #transworldbusinessadvisors #realestate #commercial

Quotes:

"I think the biggest part that's scaring us is now we're getting into a situation where we can't get what we need to close. And – there's some major implications on these deals if they roll over into 2026 instead of closing in December." — Aaron Fox [0:06:56]

"If it would come to an end next week, there's probably a week of chaos with an SBA, just with the mass amount of volume of inquiries that they're going to get, but then they expect it to settle down." — Scott Hislop [0:08:07]

"I think we're going to start seeing more impact [on] businesses that are using resources like small business development centers that are funded through the SBA." — Diane Hartz Warsoff [0:09:52]

"The SBA did release a report of how many loans and total value [are] essentially on standby, and they're estimating over 4800 loans have been put on standby, which would equate to about $2.5 billion that was not distributed to small businesses." — Samuel Curcio [0:13:27]

Andy and JT welcome you to another episode of The Deal Board Podcast. This week, Andy sits down with Bob and Caroline Kelliher of Transworld Business Advisors of Western and Central Washington to explore what it's really like to run a business as a couple. From running a 10,000-square-foot party supply store and later expanding to multiple locations, to teaching at Le Cordon Bleu and now helping entrepreneurs buy and sell companies through Transworld, the Kellihers have turned decades of shared experience into a thriving partnership. They discuss how they divide responsibilities, balance home and work life, and why mutual respect and clear communication keep both their marriage and ventures strong. Tune in for an honest, funny, and heartfelt look at partnership in work and in life!

Listing of the Week:

JT Harp, President and CEO of Transworld Business Advisors of Greater Cincinnati and Northern Kentucky, presents a legacy bakery that's been a beloved community staple for decades. Known for its loyal customer base and strong brand equity, this turnkey operation includes retail, wholesale, catering, and optional real estate. With infrastructure, staff, and supplier relationships already in place, it's ready for a new owner to grow and modernize. For more information, contact JT at (513) 725-7283 or [email protected]

Deal of the Week:

A cozy three-room inn in historic Roslyn, Washington, famously known as the filming location for Northern Exposure, has been sold again! Once a 19th-century dental office, the property was first sold after Bob and Caroline Kelliher met the buyers by chance at a local pub. This time, a local pastor and his family purchased the inn, eager to run a small, community-focused business. With multiple offers and plenty of local interest, it sold above asking with cash and seller financing. To learn more, call Bob at (509) 558-7150 or Caroline at (425) 531-0042, or email them at [email protected] or [email protected].

Key Takeaways From This Episode:

• [00:30] Introducing today's guest topic: What it's really like to run a business as a couple with Bob and Caroline Kelliher.

• [03:11] How they met while working together, began their first venture, and divided their roles.

• [05:46] Expanding to multiple locations, launching "Sweet Caroline's" bakery, and teaching their kids entrepreneurship.

• [06:24] Their years working apart: Caroline's near-decade teaching at Le Cordon Bleu and Bob's time working in Las Vegas.

• [07:06] How they started working together again: finding their next chapter together with Transworld, and how they divide their roles.

• [10:34] Their top advice for couples in business: define roles and leave emotion out.

• [11:45] Why they view entrepreneurship as a lifestyle, not just a career.

• [13:41] Deal of the Week: Bob and Caroline Kelliher (Western & Central Washington) sold a historic three-room inn in Roslyn, WA, to a local pastor and his family.

• [17:08] Listing of the Week: JT Harp (Cincinnati, Northern Kentucky) is selling a long-standing community bakery with a strong brand and loyal customers.

Links Mentioned in Today's Episode:

The Deal Board Podcast

Subscribe to The Deal Board Podcast YouTube Channel

United Franchise Group

Transworld Business Advisors

Transworld on LinkedIn

Transworld on Facebook

Call us — (888) 719-9098

Email us [email protected]

Bob Kelliher

Bob Kelliher email

Call Bob at (509) 558-7150

Caroline Kelliher

Caroline Kelliher email

Call Caroline at (425) 531-0042

JT Harp

Legacy Bakery with Decades of Success – Real Estate Option

#thedealboard #transworldbusinessadvisors #realestate #commercial

Quotes:

"I'd say, leave the emotion out and focus on the goal — the common goal." — Caroline Kelliher [0:10:42]

"I don't think all husbands and wives can pull this off, but if you can, it's amazing. It's definitely worth trying." — Bob Kelliher [0:10:52]

"We are of service in a way. I love the job so much because I'm helping people get to retirement. I'm helping that first-time business owner own their own business. I remember when I did that, it was the most amazing thing." — Bob Kelliher [0:12:00]

"I think everybody should own their own company at some point. And if it doesn't work out, you will learn so much from it that you'll be a better person for whatever you do in the future." — Bob Kelliher [0:12:15]

Andy and JT welcome you to another episode of The Deal Board Podcast. This week, Andy sits down with return guest, Seth Greene, from Market Domination, to discuss a powerful lead-generation tool that helps business owners turn their content into qualified leads. Seth explains how his "Unlimited Leads for Life" software automates hours of manual prospecting: analyzing profiles, starting conversations, and nurturing relationships across multiple platforms without losing the human touch. He shares practical tips for using LinkedIn more effectively, how AI can support authentic outreach, and why so many professionals are missing opportunities by not leveraging their existing networks. Seth also highlights creative ways the tool is being used for fundraising and charitable campaigns, proving its potential beyond traditional sales. Tune in to learn how to leverage your network, automate smarter, and build genuine connections that drive real results!

Listing of the Week:

A 100-year-old irrigation company in the Chicago area is now available through Matt Friscia of Transworld Business Advisors of La Grange. This long-established, union-based business serves both residential and commercial clients, including several downtown rooftop accounts. With steady earnings, a strong reputation, and a skilled team in place, it offers a rare chance to own a proven, profitable operation. The asking price is around $600,000, with solid six-figure earnings. To see all their listings, visit tworld.com/lagrange or contact Matt at (708) 328-8886 or [email protected]

Deal of the Week:

A thriving IV hydration franchise on the Gulf Coast has sold in a $1.1 million deal, just six months after opening! The seller, a nurse who launched the business to quick success, chose to sell so she could focus on starting a family. Despite the short operating history, Bill Kleinschrodt of Transworld Business Advisors of the Gulf Coast secured SBA financing, proving that profitable young businesses can sell fast with the right support. Backed by strong lender relationships across Alabama, Mississippi, and Louisiana, Bill and his team got the deal done. To get in touch with Bill, email [email protected] or phone (251) 237-1030.

Key Takeaways From This Episode:

• [00:30] Introducing return guest, Seth Greene, and today's episode topics.

• [02:13] A breakdown of Seth's new lead-generation tool that automatically turns content and social media connections into qualified leads.

• [08:16] Seth's automated lead generation pipelines for multiple businesses.

• [08:54] Your guide to building four core flows for connecting on social media.

• [10:20] The ideal candidates for Seth's lead generation tool.

• [10:52] How the software delivers leads to you.

• [12:04] Privacy, public data, and why social networks are ideal for this kind of outreach.

• [13:55] How Seth's software uses relationship-based communication to break through to recipients at scale.

• [17:06] Seth's contact details and how to get a Deal Board discount for his services.

• [18:41] Bill Kleinschrodt (Gulf Coast) sold a thriving IV hydration franchise in a $1.1M SBA-financed deal.

• [20:27] Matt Friscia (La Grange) is selling a 100-year-old, union-based irrigation company in Chicago.

Links Mentioned in Today's Episode:

The Deal Board Podcast

Subscribe to The Deal Board Podcast YouTube Channel

United Franchise Group

Transworld Business Advisors

Transworld on LinkedIn

Transworld on Facebook

Call us — (888) 719-9098

Email us [email protected]

Seth Greene on LinkedIn

Market Domination LLC

Unlimited Leads for Life

Bill Kleinschrodt

Matt Friscia

Profitable $1M+ Landscape Irrigation Company - $200k SDE

#thedealboard #transworldbusinessadvisors #realestate #commercial

Quotes:

"[The prospecting] worked, but it was a lot of time-consuming, manual labor, and obviously the more successful I got, the quicker I ran out of time." — Seth Greene [0:04:41]

"We built software that does the same thing [and does the labor for you]. You will literally watch your mouse move on the screen." — Seth Greene [0:06:10]

"We now literally have 1000s of users running this software every single day." — Seth Greene [0:08:18

"If you, or your competitors, are running paid social media advertising, like Facebook [or] LinkedIn ads, – I could go put this on their ad and say, 'Give me everybody who interacted with their ad and put them into my software.'" — Seth Greene [0:12:12]

Andy and JT welcome you to another episode of The Deal Board Podcast. This week, Andy speaks with Andrew Bab of Debevoise & Plimpton about the high-stakes world of healthcare mergers and acquisitions. From billion-dollar deal structures and the teams required to execute them, to the common reasons major transactions fall apart, Andy and Andrew unpack the complexity behind large-scale deals. They also explore how private equity's "dry powder" — the trillions of dollars firms keep in reserve to deploy into future deals — and the rise of AI-driven healthcare solutions are shaping the future of the industry. Tune in for an insider's view of what it takes to get big deals across the finish line and where opportunities are emerging in healthcare M&A!

Listing of the Week:

Rally de Leon, broker with Transworld Business Advisors of Raleigh, presents a premier cabinet refinishing franchise in a prime market. The down payment is priced at $149,900, and the business generates nearly $500,000 in sales with $85,000 in SDE last year. Because the current owners live two hours away, growth has been limited, but with local leadership, revenue could easily double. For more information, call Rally at (919) 602-0355 or email [email protected]

Deal of the Week:

Alexander Woo, broker with Transworld Business Advisors of Orange County, closed his first transaction: a long-standing hair salon. Though the business wasn't profitable, the seller needed a quick exit before relocating abroad. By repositioning it as a cost-effective alternative to starting a new salon, Alex secured a buyer within three months and closed escrow in two more. The buyer gained a ready-to-operate salon at a fraction of startup costs, while the seller moved stress-free. For more information, call Alexander at (714) 923-1222 or email [email protected]

Key Takeaways From This Episode:

• [00:30] An overview of today's topic: Large M&A deals.

• [03:00] Introducing Andrew Bab and his path from investment banking to law and healthcare M&A.

• [07:04] The current state of healthcare and M&A amid market uncertainty, regulation, and healthcare antitrust hurdles.

• [09:55] Impact of increased interest rates and private equity's $2–3 trillion in "dry powder".

• [12:17] Why large deals require extensive legal, banking, and accounting teams.

• [16:19] Deal timelines: negotiation, signing, and regulatory approvals.

• [17:40] Common reasons deals collapse, including valuation disputes and antitrust concerns.

• [20:26] The impact of AI-driven solutions on healthcare M&A deals.

• [22:35] Challenges in healthcare, from staffing shortages to drug pricing pressures.

• [26:14] Deal of the Week: Alexander Woo (Orange County) sold a long-standing hair salon to a buyer who wanted an affordable way to enter the business before the seller's move abroad.

• [29:20] Listing of the Week: Rally De Leon (Raleigh) is selling a premier cabinet refacing franchise in a booming market with strong sales and growth potential.

Links Mentioned in Today's Episode:

The Deal Board Podcast

Subscribe to The Deal Board Podcast YouTube Channel

United Franchise Group

Transworld Business Advisors

Transworld on LinkedIn

Transworld on Facebook

Call us — (888) 719-9098

Email us [email protected]

Andrew Bab

Andrew Bab on LinkedIn

Alexander Woo

Email Alexander Woo

Call Alexander Woo — (714) 923-1222

Rally de Leon

Email Rally de Leon

Call Rally de Leon — (919) 602-0355

Premier Cabinet Refinishing Franchise in Prime Market

#thedealboard #transworldbusinessadvisors #realestate #commercial

Quotes:

"One of the headwinds for healthcare now is growing regulation. One of the areas that Trump is not relaxing [is] in antitrust [and] healthcare." — Andrew Bab [0:08:01]

"One reason deals die is a lack of agreement on the valuation of a certain aspect of the company." — Andrew Bab [0:17:45]

"I think that they will be investing more in AI driven healthcare technologies. No question. Both in drug discovery [and] in the pharma space." — Andrew Bab [0:20:33]

Longer Quotes: "You can get to a point where the antitrust authorities are signaling you that [they're going to give] you a second request. A second request is a multi million dollar process, because you've got to basically give every piece of paper that exists to the antitrust authorities. — So many people don't want to go through that, and they build into their agreements an ability to get out of the deal in that case." — Andrew Bab [0:19:35]

Andy and JT welcome you to another episode of The Deal Board Podcast. This week, we are joined by Eric Straus and Sam Curcio from Transworld Advisors Manhattan to discuss deal challenges and how to overcome them, live from New York's Theorist Podcast Studios. We reiterate why remembering the letters TKD is important, discuss the biggest underestimation of the deal process, why having the right tools is essential, and why ultimately hiring a professional can help you take your deal across the finish line. For more insights and advice on ensuring deal progression and success, be sure to tune into our conversation today!

Listing of the Week:

Matt Manavi from Transworld San Diego Central is selling a Telehealth-Enabled weight loss company with recurring revenue. It's very profitable and scalable, addressing patients nationwide. For more information, call Matt at (714) 923-1222 700 or email him at [email protected].

Deal of the Week:

Eric Straus from Transworld New York sold a fashion brand with impeccable speed and efficiency for a young mother who needed a quick exit. They priced it very aggressively and appropriately, and eventually sold it to a father for his daughter-in-law. For more information, call Eric at (917) 719-5920 or email him at [email protected].

Key Takeaways From This Episode:

• [00:40] How to overcome deal challenges and keep the process moving along.

• [01:50] Remembering these three letters: TKD (time kills deals!)

• [03:10] Introduction to today's guests, Eric Straus and Sam Curcio from New York.

• [03:28] The biggest underestimation of the deal process.

• [04:20] Sam shares a recent deal they had challenges with.

• [05:55] The importance of having the right tools to apply.

• [07:00] Why hiring a professional can be essential to take your deal across the finish line.

• [11:20] Talking bluntly and having someone to get everyone else in line.

• [14:25] How New York deals compares with the rest of the country.

• [16:00] Top tips for people going through a deal.

• [19:08] Deal of the Week: Eric Straus from Transworld Advisors of Manhattan sold a fashion brand with impeccable speed and efficiency for a mother who needed a quick exit.

• [20:35] Listing of the Week: Matt Manavi from Transworld Business Brokers of Orange County, California, is selling a weight-loss company with Telehealth Medicine.

Links Mentioned in Today's Episode:

The Deal Board Podcast

Subscribe to The Deal Board Podcast YouTube Channel

United Franchise Group

Transworld Business Advisors

Transworld on LinkedIn

Transworld on Facebook

Call us — (888) 719-9098

Email us [email protected]

Eric Straus Transworld

Eric Straus on LinkedIn

Eric Straus Phone (917) 719-5920

Sam Curcio on LinkedIn

Sam Curcio Transworld

Sam Curcio Phone (646) 470-9433

Theorist Podcast Studios NY

#thedealboard #transworldbusinessadvisors #realestate #commercial

Quotes:

"No deal goes smoothly. If you spend any time in this world, you'll realize that every deal has hair on it. You're dealing with people and people have personalities and it's a very emotional process." — Sam Curcio [0:03:55]

"A broker's job is not about finding the buyer. A broker's job is about getting a deal across the finish line." — Eric Straus [0:06:03]

"There's no question that hiring a good broker is worth the investment to help with the process. It's not an easy process, it's an emotional process — and having someone who's done it hundreds and hundreds of times obviously, is going to be beneficial." — Eric Straus [0:06:40]

Andy and JT welcome you to another episode of The Deal Board Podcast. This week, they are unpacking the deal killers that have the potential to stand between you and the dream of selling your business. Starting with the financials, we unpack the practicalities of good record-keeping before moving on to the realities of outgrowing your people. Next, we dive into the crucial role of up-to-date technology to support your business operations and explore the complex topic of pricing your business appropriately. Lastly, we discuss how to build a deal team that truly works for you. Join us as we lift the lid on each of these topics, sharing some pearls of wisdom to help you keep the deal dream alive!

Listing of the Week:

Frank Curcio of Transworld New York is selling a boutique clothing shop in the Hudson Valley that is close to mass transport and has plenty of parking. It is perfect for anybody with an eye for fashion and invites visitors to spend extra time browsing. For more information, call Frank at (845) 288-4733 or email him at [email protected]. Deal of the Week: DOTW - Ryan Armstrong Ryan Armstrong from Transworld Advisors of Phoenix sold a frame shop in a small town to a buyer who moved the business to a larger city and merged it with an antique furniture store. If you have a tough deal to sell, contact Ryan at (480) 447-3504 or [email protected].

Key Takeaways From This Episode:

• [00:40] How deal killers can crush your dream of selling your business.

• [01:38] Three ways to have good books and records.

• [08:17] What to look for when you want to know if your business has outgrown its people.

• [10:22] The role of relevant and up-to-date technology.

• [12:41] Why it is crucial to price your business appropriately.

• [15:55] Understanding the importance of having the right team.

• [18:10] Selecting the right deal team from Transworld.

• [19:56] Deal of the Week: Ryan Armstrong from Transworld Advisors of Phoenix sold a frame shop in a small town to a buyer who moved the business to a larger city and merged it with an antique furniture store.

• [21:31] Listing of the Week: Frank Curcio (New York) is selling a boutique clothing shop in the Hudson Valley.

Links Mentioned in Today's Episode:

The 3 Most Common Deal Killers

The Deal Board Podcast

Subscribe to The Deal Board Podcast YouTube Channel

United Franchise Group

Transworld Business Advisors

Transworld on LinkedIn

Transworld on Facebook

Call us — (888) 719-9098

Email us [email protected]

#thedealboard #transworldbusinessadvisors #realestate #commercial

Quotes:

"Don't ruin your dreams of selling your business!" — Andrew Cagnetta [0:1:17]

"When you're an intermediary or you're going in and talking to that seller, you're probably going to have to carry some paper." — JT Tatem [0:13:44]

"Pricing it right just brings it to market. We always say that you don't want to price it so low that you leave money on the table — that's not good for you as the seller, and you don't want to price it so high that nobody calls." — Andrew Cagnetta [0:15:02]

How long does it take to sell a business, and what's the right price to make it happen? Andy and JT welcome you to another episode of The Deal Board Podcast. This week, they dig into the latest numbers shaping the business brokerage market. They unpack Transworld's record-breaking 2024 results, explore how deal multiples vary by earnings, and explain why correct pricing is the key to avoiding expired listings. During the conversation, they also discuss the influence of baby boomer retirements, the power of co-brokerage, and how buyer behavior is evolving in today's market. Looking ahead, Andy and JT share why 2025 is off to a strong start and why the second half of the year could be even better. Tune in and discover the data, trends, and strategies you need to navigate the market with confidence.

Deal of the Week:

Wayne Blease's sale of a diversified events business featuring two event centers, a chapel, a restaurant with catering, multiple B&Bs, and a fully built Western town. The business included over four acres of real estate. Sold for over $3M after a two-year search for the right buyer to preserve the seller's legacy. For more information, call Wayne at (713) 201-2346 or email him at [email protected].

Listing of the Week #1:

Rupesh Bharad shares an exciting opportunity on a 75-year-old, high-end blinds and window treatment business with $750K in bottom-line earnings. Listed for $2.4M, with the option to purchase the real estate for an additional $1.6M. SBA financing options are available, making this a strong opportunity for buyers looking for a legacy business with real estate income potential. For more information, call Rupesh at (804) 835-6363 or email him at [email protected].

Listing of the Week #2:

Rupesh Bharad is selling a 21-year-old, relocatable art and display business with $200K–$250K in bottom-line earnings. The sale is bank-financeable and listed for under three times its earnings. The business is also suitable for operation from any location. For more information, call Rupesh at (804) 835-6363 or email him at [email protected].

Key Takeaways From This Episode:

• [00:00] Introduction and what listeners can expect from this episode.

• [01:03] Celebrate success as Andy and JT announce $1B in transactions for 2024.

• [02:09] How generational shifts are creating a surge in business sales worldwide.

• [03:39] Why understanding the marketplace is key and what businesses often get wrong.

• [06:13] Find out why small businesses are still the backbone of the economy.

• [07:27] Trends in sellers owning business real estate and keeping it for rental income.

• [08:25] Why opening the market enhances seller outcomes and speeds up sales.

• [10:47] How stats guide strategies at Transworld and what drives multiples.

• [14:40] Navigating pricing when selling and the common mistakes sellers make.

• [17:36] Learn why sales can take several months and the danger of "testing the waters."

• [19:47] Projections for 2025 and why buyers must act quickly in today's market.

• [22:13] Deal of the Week: Wayne Blease talks about selling a Western-themed events business with multiple revenue streams.

• [24:26] Listing of the Week #1: Rupesh Bharad tells us about a 75-year-old window treatment business with an optional real estate purchase.

• [27:30] Listing of the Week #2: Rupesh Bharad is selling a relocatable art and display business with strong earnings and bank financing available.

Links Mentioned in Today's Episode:

The Deal Board Podcast

Subscribe to The Deal Board Podcast YouTube Channel

United Franchise Group

Transworld Business Advisors

Transworld on LinkedIn

Transworld on Facebook

Call us — (888) 719-9098

Email us [email protected]

Florida Business Brokers

Wayne Blease

Rupesh Bharad

#thedealboard #transworldbusinessadvisors #realestate #commercial

Quotes:

"One of the deal killers is just [that] people don't understand the marketplace." — @acags [0:04:22]

"The seller, when they hire, they don't care where the buyer comes from." — JT Tatem [0:09:29]

"[Transworld] always [says] that the quality and quantity of earnings will drive multiples." — @acags [0:12:03]

"Businesses are not going to be overpriced because people don't like to negotiate anymore." — @acags [0:16:24]

Andy and Jessica welcome you to another episode of The Deal Board Podcast. This week, they celebrate a major milestone in The Deal Board's journey: its 200th episode! They reflect on launching the podcast back in 2018, share exciting stats (including over 50,000 downloads and more than 20,000 YouTube views), and discuss the evolution of business brokerage over the years. From pandemic pivots and global expansion to generational shifts and the rise of Exit Factor, this episode honors the Deal Board community and marks a bittersweet farewell for Jessica as co-host, who is focusing on Exit Factor and her new show, How I Sold. It also highlights The Deal Board's growing educational impact, international reach, and exciting future under new leadership!

Listing of the Week:

Thomas Milana (South Florida) is selling a well-established 20-year-old HVAC company with $6.7M in annual revenue and $600,000 in discretionary earnings. Asking price is $2.1M. The business handles both residential and commercial retrofits and is in high demand. For more information, contact Thomas at (561) 702-6867 or email [email protected]

Key Points From This Episode:

• [00:35] Reflecting on how it all started at an IBBA conference in New Orleans in 2018.

• [02:32] Celebrating 50,000+ downloads and 20,000+ YouTube views.

• [03:31] How the pandemic became a catalyst for growth in business brokerage.

• [04:50] Early discussions on the "seller tsunami" trend.

• [05:46] Millennials and Gen X shifting from corporate careers to business ownership

• [06:55] The rise of exit planning as a strategic business phase.

• [08:02] Global expansion and how the podcast resonates internationally.

• [10:22] The podcast's influence on business buyers, sellers, and industry professionals.

• [12:26] New voices and guest hosts from across the Transworld network.

• [13:32] Shifting co-host duties as Jessica focuses on Exit Factor and How I Sold.

• [15:54] The podcast's future as a growing industry resource.

• [18:36] How loyal listeners use the podcast as a training tool and deal-saving resource.

• [22:23] Keeping up with trends, laws, financing, and the seller wave.

• [26:43] Deal of the Week: Joe Strickland (Lakeland, FL) closes on a Port St. Lucie daycare.

• [28:51] Listing of the Week: Thomas Milana (South Florida) is selling a $6.7M revenue HVAC company in South Florida.

Links Mentioned in Today's Episode:

The Deal Board Podcast

Subscribe to The Deal Board Podcast YouTube Channel

United Franchise Group

Transworld Business Advisors

Transworld on LinkedIn

Transworld on Facebook

Call us — (888) 719-9098

Email us [email protected]

Andy Cagnetta

Andy Cagnetta on X

Jessica Fialkovich

Jessica Fialkovich on X

Exit Factor

How I Sold Podcast

International Business Brokers Association (IBBA)

United Franchise Group (UFG)

JT Tatem

Joe Strickland

Call Joe — (863) 559-7381 Email Joe — [email protected]

Thomas Milana

Call Thomas — (561) 702-6867

Email Thomas — [email protected]

'Get Cool Profits and Add-On This HVAC Opportunity'

#thedealboard #transworldbusinessadvisors #realestate #commercial

Quotes:

"We won't claim that we made buying businesses cool, but maybe we had some small part in the education process." — @jessfialkovich [0:06:26]

"The podcast is a metaphor for business. – The podcast is building and it's accelerating on that J curve upwards. It's how businesses and industry are, too. Transworld and the business brokerage industry are just taking off." — @jessfialkovich [0:16:42]

"Businesses need good support. The beauty of Exit Factor is that Transworld can give you that support when you've decided to sell." — @acags [0:17:01]

"An educated consumer is our best customer." — @acags [0:22:58]

Andy and JT welcome you to another episode of The Deal Board Podcast. This week, they take a deep dive into one of Transworld's hottest segments: construction. From small trade businesses to large-scale infrastructure firms, construction companies are a consistent force in the market and, as you'll discover from this conversation, they're ripe for sale. Tune in to find out what makes them so appealing to buyers, the common challenges of selling them, and how Transworld brokers can help you navigate complex deals to deliver successful outcomes!

Listing of the Week:

Thomas Milana (Transworld Fort Lauderdale) is selling a well-established, 20-year-old HVAC business in South Florida. With $6.7 million in annual revenue and $600,000 in discretionary earnings, the company specializes in both residential and high-demand commercial retrofits. The asking price is $2.1 million. It includes rolling stock and a strong reputation in the market. For more information, call Thomas at (561) 702-6867 or email [email protected].

Deal of the Week:

Dan Tomlin (Transworld Jacksonville) closed a $2.4 million deal for a construction management company specializing in high-end owner's rep services. The seller had stringent buyer criteria, leading to a highly selective process with over 40 prospects considered. The eventual buyer, a Navy veteran with shipbuilding experience, was a perfect fit. Creative financing and a working capital structure helped seal the deal. Contact Dan at (904) 800-7355 or email [email protected].

Key Points From This Episode:

• [00:24] Why construction is Transworld's #2 sector by volume and #1 by total dollars.

• [02:17] How demand stays strong across residential, commercial, and infrastructure.

• [03:47] 4M+ US construction-related businesses, many owned by retiring baby boomers.

• [04:50] High-demand specialty trades like HVAC, plumbing, and electrical.

• [06:14] Customer concentration and licensing as key deal considerations.

• [08:35] Earnouts and seller transitions to ease buyer concerns and improve deal terms.

• [10:38] Common industry challenges: seasonality, economic cycles, and cash flow variability.

• [12:55] Reasons that work-in-progress and working capital must be carefully calculated.

• [14:35] The value of confidentiality and an experienced agent to screen unqualified buyers.

• [16:52] Scalable, financeable businesses, with strong buyer interest and high ROI potential.

• [18:28] How even small, unsophisticated firms can sell well with strong buyer upside.

• [20:45] Listing of the Week: Tom Milana is selling a $6.7M HVAC company in Florida.

• [22:14] Deal of the Week: Dan Tomlin sold a construction management firm for $2.4 million.

Links Mentioned in Today's Episode:

The Deal Board Podcast

Subscribe to The Deal Board Podcast YouTube Channel

The Deal Board on LinkedIn

The Deal Board on Facebook

United Franchise Group

Transworld Business Advisors

Transworld on LinkedIn

Transworld on Facebook

Call us on (888) 719-9098

Email us at [email protected]

Andy Cagnetta

Andy Cagnetta on X

JT Tatem

Thomas Milana

Get Cool Profits and Add-On This HVAC Opportunity

Dan Tomlin

#thedealboard #transworldbusinessadvisors #realestate #commercial

Quotes:

"[The construction industry] is almost 5% of the US GDP, and it's the second largest segment that we sell – But as far as dollars are concerned, it is by far the biggest thing." — @acags [0:03:16]

"If you do have a construction business, both work-in-progress and working capital will have to be not only addressed, but included." — @acags [0:13:32]

"It's tough to control the confidentiality piece. You want a Transworld agent – who [does] all the vetting of the buyers up front and then only bringing those who are suited for that particular purchase – to the seller, and protecting the seller from an onslaught of inquiries." — JT Tatem

[0:15:09]

"[Construction] is an industry that's not going away. It's consistent. It performs year after year after year. There may be some [seasonal highs and lows], but it's never going to stop." — JT Tatem [0:16:31]

Andy and Jessica welcome you to another episode of The Deal Board Podcast. This week, Andy sits down with Jessica and business exit strategist Kelly Chess to explore the fast-growing Exit Factor franchise. They dive into how Exit Factor helps business owners increase valuation, clean up financials, and develop exit strategies that maximize returns. Kelly also highlights the importance of clean financials, documentation, and having a coach to guide long-term planning. With over 90 territories sold in just 18 months, Exit Factor is quickly becoming a go-to for entrepreneurs looking to build and sell smarter. To learn how to turn your business into a more valuable, sellable asset, tune in today!

Listing of the Week:

AJ Ramsey (Eastern North Carolina) is selling a high-volume commercial roofing business serving top national production builders. The business generates $24M in revenue with $1.6M in earnings. For more information, call AJ at (919) 325-6611 or email [email protected].

Deal of the Week:

Guillermo Birmingham (Richmond, VA) sold a struggling kebab restaurant that was transformed by new ownership into a thriving Mexican eatery doing $2.2M in revenue in its first year. Guillermo even helped the buyer secure licenses and create buzz that packed the place on opening day. To learn more, call Guillermo at (202) 410-1555 or email [email protected].

Key Points From This Episode:

• [00:54] How Exit Factor has expanded to 22 states and 93 territories in under two years.

• [02:31] Helping business owners uncover untapped value in their operations.

• [03:00] Coaching and accountability as a cornerstone of Exit Factor's process.

• [04:08] Leveraging market data to boost value and monetize hidden opportunities.

• [06:48] Exit Factor's 62-point qualitative assessment explained.

• [08:33] Addressing sellers' post-exit identity and long-term goals.

• [11:06] Optimizing profit, operations, and team structure ahead of the sale.

• [11:57] Why clean financials are non-negotiable for serious buyers.

• [13:06] Ideal timeline: one to five years for a strong, well-documented exit.

• [17:25] Coaching as a mirror to break bad habits and unlock potential.

• [18:30] Listing of the Week: AJ Ramsey is selling a $24M commercial roofing business in the Southeast

• [19:52] Deal of the Week: Guillermo Birmingham sold a local kebab house that became a $2.2M Mexican restaurant success.

Links Mentioned in Today's Episode:

The Deal Board Podcast

Subscribe to The Deal Board Podcast YouTube Channel

The Deal Board on LinkedIn

The Deal Board on Facebook

United Franchise Group

Transworld Business Advisors

Transworld on LinkedIn

Transworld on Facebook

Call us on (888) 719-9098

Email us at [email protected]

Jessica Fialkovich on X

Kelly Chess on LinkedIn

Email Kelly at [email protected]

Call Kelly on (954) 495-2775

Exit Factor

AJ Ramsey

Listing: Large, Award-Winning, SE US Commercial Roofing Contractor

Guillermo Birmingham

#thedealboard #transworldbusinessadvisors #realestate #commercial

Quotes:

"A great entrepreneur is creative. They're always trying different things. What we've been able to do with Exit Factor, with the sister relationship with Transworld, [is that] we actually know the formula to unlock value, whereas a lot of business owners don't." — @jessfialkovich [0:03:35]

"[Exit Factor works] with people who aren't quite ready to sell yet. It might be [3 to 5 years], and we can develop a relationship with them. We can get to know them and what their goals are, not only valuation-wise, but what comes after the sale. That's an important piece of it." — Kelly Chess [0:08:07]

"[Going] through this process to learn what it's like to value your business – brings a whole other level to the way that [business owners make] decisions moving forward and the kind of strategies that they're bringing in." — Kelly Chess [0:16:12]