The Exit - Presented By Flippa

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You might be surprised by how much you can get for it: https://flippa.com/exit

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In this episode of The Exit: Kirk Michie, Managing Partner at Candor Advisors, shares insights from his 30-year career in capital markets and M&A advisory.

He discusses his transition from financial advising to helping founders navigate successful exits.

Kirk emphasizes the importance of understanding your "why" as a founder before pursuing an exit, noting that matching with the right buyer depends on understanding one’s core motivations and objectives with your exit.

Regarding valuations and buyers an owner will face, Kirk speaks through how the multiples and types of buyers will change according to characteristics of your business and variables including EBITDA size, revenue sources, and risk factors.

Kirk heavily stresses the need for proper preparation and protection, which includes professionalizing financials before sharing with potential buyers, avoiding sharing raw QuickBooks data, and being cautious about revealing too much information too soon.

For more details and insights from his entrepreneurial journey, listen to the latest episode of The Exit.

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Kirk Michie is the Managing Partner of Candor Advisors, consultants to founder-led businesses contemplating capital events and value enhancement. For more than 30 years, Mr. Michie has worked with entrepreneurs, closely held business owners, and high net worth families to achieve their strategic planning, liquidity, and legacy objectives. Mr. Michie has raised and deployed more than $1 billion of capital, been involved with evaluating more than 2,000 direct investments, and participated as principal or advisor on dozens of buyout, refinancing, or sale transactions.

Websites - https://candor-advisors.com/

- https://www.ebitdauniversity.com/

LinkedIn - https://www.linkedin.com/in/kirkmichie/

Check Out Flippa’s Data Insights Tool: https://flippa.com/data-insights

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The Exit—Presented By Flippa: A 30-minute podcast featuring expert entrepreneurs who have been there and done it. The Exit talks to operators who have bought and sold a business. You’ll learn how they did it, why they did it, and get exposure to the world of exits, a world occupied by a small few, but accessible to many. To listen to the podcast or get daily listing updates, click on flippa.com/the-exit-podcast/

Want a quick estimate of how much your business is worth?

With our free valuation calculator, answer a few questions about your business and you’ll get an immediate estimate of the value of your business.

You might be surprised by how much you can get for it: https://flippa.com/exit

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In this episode of The Exit: Robin Gagnon, co-founder and CEO of We Sell Restaurants, takes us through her 21-year journey helping restaurant owners navigate exits.

Her company has grown to become the largest restaurant brokerage firm in the nation, operating in 45 states with over 1,000 listings valued at approximately $450 million.

Robin emphasizes the importance of proper financial documentation and presentation when preparing for a sale, explains how franchise restaurants typically trade at higher multiples than independent restaurants, and discusses the benefits of selling individual locations versus grouping them together.

She advises owners to start the exit process early, obtaining independent third-party valuations, and maintaining good relationships with franchisors during transitions.

For more details and insights from her entrepreneurial journey, listen to the latest episode of The Exit.

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Robin Gagnon is the Co-Founder and CEO of We Sell Restaurants, a brand that has carved an unparalleled niche in the industry as the nation's leading and only business broker franchise focused on restaurants. Under Robin’s leadership, We Sell Restaurants has grown to 45 states where it dominates the restaurant for sale marketplace and franchise resales, delivering on the founder’s vision to sell more restaurants than anyone else. Robin is a member of the IFA (International Franchise Association) Board of Directors Vice Chair of the Franchisor Forum and Past Chair of the Women’s Franchise Committee.

Website - https://www.wesellrestaurants.com/

LinkedIn - https://www.linkedin.com/in/robingagnonrestaurantbroker

Check Out Flippa’s Data Insights Tool: https://flippa.com/data-insights

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The Exit—Presented By Flippa: A 30-minute podcast featuring expert entrepreneurs who have been there and done it. The Exit talks to operators who have bought and sold a business. You’ll learn how they did it, why they did it, and get exposure to the world of exits, a world occupied by a small few, but accessible to many. To listen to the podcast or get daily listing updates, click on flippa.com/the-exit-podcast/

Want a quick estimate of how much your business is worth?

With our free valuation calculator, answer a few questions about your business and you’ll get an immediate estimate of the value of your business.

You might be surprised by how much you can get for it: https://flippa.com/exit

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In this episode of The Exit: Todd Sullivan, CEO of ExitWise, shares insights from his journey through multiple successful exits, starting with a hockey equipment patent that he licensed and sold 22 months after creating it.

After this, Todd progressed through several ventures, including companies acquired by CBS and Microsoft.

Todd emphasizes the importance of balancing venture capital expectations with personal goals, advising entrepreneurs to prioritize their own financial security over investors' demands for outsized returns.

Through ExitWise, Todd now helps other founders navigate M&A processes. His advice to entrepreneurs is to view exits as part of a longer journey rather than a single defining event, encouraging founders to take wins when available and build upon their successes.

For more details and insights from his entrepreneurial journey, listen to the latest episode of The Exit.

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Todd Sullivan is a highly successful tech entrepreneur who has built and sold 4 companies. His companies have been acquired by strategics including Microsoft, CBS and Amer Sports

and a private equity backed platform. Today, Mr. Sullivan is the CEO of Exitwise.com where his company helps founders and business owners who are thinking about selling their businesses, hire and manage the world’s best M&A experts to maximize the sale of each business.

LinkedIn - https://www.linkedin.com/in/toddfsullivan/

Exit Wise Website & Podcast - https://exitwise.com/

- https://www.youtube.com/@exitwise

Check Out Flippa’s Data Insights Tool: https://flippa.com/data-insights

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The Exit—Presented By Flippa: A 30-minute podcast featuring expert entrepreneurs who have been there and done it. The Exit talks to operators who have bought and sold a business. You’ll learn how they did it, why they did it, and get exposure to the world of exits, a world occupied by a small few, but accessible to many. To listen to the podcast or get daily listing updates, click on flippa.com/the-exit-podcast/

Want a quick estimate of how much your business is worth?

With our free valuation calculator, answer a few questions about your business and you’ll get an immediate estimate of the value of your business.

You might be surprised by how much you can get for it: https://flippa.com/exit

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In this episode of The Exit: Tim Schumacher, co-founder of SaaS Group, shares insights from his experience acquiring and growing software businesses.

He discusses his journey from founding Sedo.com to co-founding SaaS Group, emphasizing his belief in subscription-based business models and stable revenue streams.

Tim and SaaS Group's philosophy prioritizes a founder-friendly approach to acquisitions, focusing on cultural fit, team preservation, and transparent deal processes.

Tim believes that the timing of an exit should be based on personal readiness rather than market conditions, and deal structures should align with the founders' goals and circumstances.

For more details and insights from his entrepreneurial journey, listen to the latest episode of The Exit.

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While Tim Co-Founded Saas.group in 2018, he also is General Partner at World Fund and is a recognized entrepreneur and climate investor. Alongside founding World Fund, Tim has previously co-founded the world’s largest domain marketplace Sedo.com in 2001 before founding Eyeo - the makers of Adblock Plus. He has also invested in companies such as Ecosia, gridX, Zolar, Pachama and CarbonCloud and was awarded ‘Best Male Investor’ at the German Startups Association Awards in 2020.

LinkedIn - https://www.linkedin.com/in/timschumacher/

Saas.Group - https://saas.group/

Check Out Flippa’s Data Insights Tool: https://flippa.com/data-insights

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The Exit—Presented By Flippa: A 30-minute podcast featuring expert entrepreneurs who have been there and done it. The Exit talks to operators who have bought and sold a business. You’ll learn how they did it, why they did it, and get exposure to the world of exits, a world occupied by a small few, but accessible to many. To listen to the podcast or get daily listing updates, click on flippa.com/the-exit-podcast/

Want a quick estimate of how much your business is worth?

With our free valuation calculator, answer a few questions about your business and you’ll get an immediate estimate of the value of your business.

You might be surprised by how much you can get for it: https://flippa.com/exit

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In this episode of The Exit: Andrew Dickow, Managing Director at Greenwich Capital Group, shares insights from both the buy and sell sides of mergers and acquisitions.

Andrew discusses valuation methodologies, focusing on the importance of clean financials and understanding market multiples. Specifically in the food and beverage industry, he introduces his "40/20 rule" as performance benchmarks to receive an attractive valuation: 40% gross margins and 20% EBITDA margins.

He explains leveraged buyouts, highlighting their benefits to both parties involved in the deal while cautioning about the risks of over-leveraging.

He also advises entrepreneurs to be wary of unsolicited offers from private equity firms and emphasizes the importance of hiring proper advisors to run a competitive process.

Regarding timing, Andrew notes a recent boom in M&A activity due to anticipated lower interest rates and potential tax implications.

For more details and insights, listen to the latest episode of The Exit.

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Andrew Dickow is a Managing Director at Greenwich Capital Group and Townsend Street Capital with over 18 years of experience in both mergers and acquisitions and business

operations. Andrew leads the Food and Beverage/Consumer practice for GCG and TSC and has significant experience working with consumer-packaged goods, distribution, contract manufacturing, and ingredient companies. Andrew focuses on both the sell-side and buy-side and has advised numerous clients through recapitalizations, leveraged buyouts, business valuations, and financial analyses.

Website: https://greenwichgp.com/

LinkedIn: https://www.linkedin.com/in/andrewdickow/

Check Out Flippa’s Data Insights Tool: https://flippa.com/data-insights

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The Exit—Presented By Flippa: A 30-minute podcast featuring expert entrepreneurs who have been there and done it. The Exit talks to operators who have bought and sold a business. You’ll learn how they did it, why they did it, and get exposure to the world of exits, a world occupied by a small few, but accessible to many. To listen to the podcast or get daily listing updates, click on flippa.com/the-exit-podcast/

Want a quick estimate of how much your business is worth?

With our free valuation calculator, answer a few questions about your business and you’ll get an immediate estimate of the value of your business.

You might be surprised by how much you can get for it: https://flippa.com/exit

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In this episode of The Exit: Connor Tomkies shares insights from his entrepreneurial journey, including the successful exit of Support Ninja, a company he bootstrapped and scaled to over $50 million in revenue and 4,000 employees.

Connor discusses the challenges of growing a people-focused business vs. a software-focused business.

In preparation for exits, Connor suggests entrepreneurs create a confidential information memorandum (SIM) before engaging bankers or brokers to find the best acquisition partner for their business.

Connor also emphasizes the value of mentorship and peer support during and after the exit process. In light of this, Connor currently runs the Entrepreneur Cooperative, a community focused on supporting founders through the exit process and beyond.

For more details and insights from his entrepreneurial journey, listen to the latest episode of The Exit.

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Connor Tomkies is all about helping entrepreneurs scale their businesses and enjoy life after a successful exit. Whether it's through Operator Equity, the Entrepreneur Cooperative, or hosting the Made It Podcast, he's there to support founders with growth and smooth exits. Now Connor invests through Operator Equity, where he invests in founder-led businesses and helps entrepreneurs navigate through successful exits with minimal hassle.

Website: www.entrepreneurcooperative.com

Connor’s Podcast: www.madeitpod.com

LinkedIn: https://www.linkedin.com/in/connortomkies/

Check Out Flippa’s Data Insights Tool: https://flippa.com/data-insights

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The Exit—Presented By Flippa: A 30-minute podcast featuring expert entrepreneurs who have been there and done it. The Exit talks to operators who have bought and sold a business. You’ll learn how they did it, why they did it, and get exposure to the world of exits, a world occupied by a small few, but accessible to many. To listen to the podcast or get daily listing updates, click on flippa.com/the-exit-podcast/

Want a quick estimate of how much your business is worth?

With our free valuation calculator, answer a few questions about your business and you’ll get an immediate estimate of the value of your business.

You might be surprised by how much you can get for it: https://flippa.com/exit

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In this episode of The Exit: Jason Schappert, founder of M0A, shares his journey from flight instructor to successful entrepreneur, specifically discussing how he bootstrapped M0A, an online aviation education platform, from zero to an eight-figure exit over 16 years.

Jason highlights the challenges of disrupting traditional aviation education by moving ground school online, facing skepticism but ultimately proving successful.

The exit process, initiated by a customer inquiry, took 10 months to complete. While that sounds like smooth sailing, Jason mentions how valuable the two previously failed acquisition attempts were in preparing the company for its eventual successful exit and the importance of subscription-based revenue and proprietary technology in achieving a favorable valuation.

For more details and insights from his entrepreneurial journey, listen to the latest episode of The Exit.

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Jason Schappert is a serial entrepreneur and financial technology visionary dedicated to empowering individuals to achieve financial freedom. He is the co-founder of Moola, an AI-driven investment platform that simplifies complex financial concepts and provides personalized insights and recommendations to help users make informed investment decisions. Prior to Moola, Jason successfully built and exited a previous business, demonstrating his entrepreneurial prowess and ability to build successful ventures from the ground up. He is a passionate advocate for financial literacy and believes that everyone deserves access to the tools and knowledge necessary to achieve financial security. Jason is a strong leader, committed to continuous learning and personal development, and a devoted husband and father. His mission is to empower the next generation to take control of their financial futures and create a world where everyone has the opportunity to achieve financial freedom and live a life free from financial stress.

Websites: https://moo.la/

Instagram: https://www.instagram.com/moola_copilot/

LinkedIn: https://www.linkedin.com/in/jasonschappert/

Check Out Flippa’s Data Insights Tool: https://flippa.com/data-insights

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The Exit—Presented By Flippa: A 30-minute podcast featuring expert entrepreneurs who have been there and done it. The Exit talks to operators who have bought and sold a business. You’ll learn how they did it, why they did it, and get exposure to the world of exits, a world occupied by a small few, but accessible to many. To listen to the podcast or get daily listing updates, click on flippa.com/the-exit-podcast/

Want a quick estimate of how much your business is worth?

With our free valuation calculator, answer a few questions about your business and you’ll get an immediate estimate of the value of your business.

You might be surprised by how much you can get for it: https://flippa.com/exit

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In this episode of The Exit: Wayne Zell, a renowned exit attorney, founder of Aspire to Exit, and CEO of Zell Law, shares insights from his 44-year career in estate planning, exit planning, and business law, which he has also written about in his book, “Your Multimillion-Dollar Exit”.

Wayne emphasizes the importance of proper preparation for business exits, discussing key aspects such as valuation, personal financial planning, and management succession.

Some common examples of proper documentation include accrual-based financial statements and proper employee documentation to facilitate smooth transactions.

The conversation also touches on more complex considerations, such as the differences between strategic and private equity buyers and the complexities of stock purchases versus asset purchases.

For more details and insights from his entrepreneurial journey, listen to the latest episode of The Exit.

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Wayne M. Zell, Esq. is an active speaker, award winning author, the CEO and Managing Member of Zell Law, and Founder of Aspire to Exit. He has been advising clients for over 30 years on business succession, business exits and estate planning. Wayne, a CExP (Certified Exit Planner) is an expert in complex estate planning, business planning, taxation and business exit strategies.

Websites: https://www.zelllaw.com/

- https://www.blueprintforwealth.org/

LinkedIn: https://www.linkedin.com/in/wayne-zell-5aa1147/

Check Out Flippa’s Data Insights Tool: https://flippa.com/data-insights

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The Exit—Presented By Flippa: A 30-minute podcast featuring expert entrepreneurs who have been there and done it. The Exit talks to operators who have bought and sold a business. You’ll learn how they did it, why they did it, and get exposure to the world of exits, a world occupied by a small few, but accessible to many. To listen to the podcast or get daily listing updates, click on flippa.com/the-exit-podcast/

Want a quick estimate of how much your business is worth?

With our free valuation calculator, answer a few questions about your business and you’ll get an immediate estimate of the value of your business.

You might be surprised by how much you can get for it: https://flippa.com/exit

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In this episode of The Exit: Simon Alex Bérubé, a startup coach and investor, shares the story of his transition from software engineering to founding a sleep improvement mobile app company that grew to 40 employees before being acquired by Teladoc after an eight-month exit process.

Simon emphasizes the importance of accurate and long-term forecasting, clean financials, organized documentation, and overall maintaining “a clean house” in preparing for an exit.

Regarding when to exit a business, Simon suggests that the best time to sell is during rapid growth with predictable forecasts.

Some lessons learned regarding growing a business include focusing on marketing alongside product development and trusting one's intuition.

Currently, Simon is engaged in startup coaching, focusing on product, marketing, and data strategies, while exploring new ventures that align with his goal of positively impacting people's lives.

For more details and insights from his entrepreneurial journey, listen to the latest episode of The Exit.

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Simon Alex Bérubé’s path began with founding Ipnos and creating Relax Melodies (later rebranded as BetterSleep), which he led as the CEO to a successful acquisition by Teladoc Health in 2021. He describes his post-acquisition experience at Teladoc, under BetterHelp's sponsorship, as an invaluable part of his journey. Starting from coding the first version of his app, Alex traversed the challenging landscape of entrepreneurship, evolving from a programmer to a successful startup leader. Alex is dedicated to helping founders and businesses achieve their goals.

Website: https://www.simonalexberube.com/

LinkedIn: https://www.linkedin.com/in/saberube/

Check Out Flippa’s Data Insights Tool: https://flippa.com/data-insights

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The Exit—Presented By Flippa: A 30-minute podcast featuring expert entrepreneurs who have been there and done it. The Exit talks to operators who have bought and sold a business. You’ll learn how they did it, why they did it, and get exposure to the world of exits, a world occupied by a small few, but accessible to many. To listen to the podcast or get daily listing updates, click on flippa.com/the-exit-podcast/

Want a quick estimate of how much your business is worth?

With our free valuation calculator, answer a few questions about your business and you’ll get an immediate estimate of the value of your business.

You might be surprised by how much you can get for it: https://flippa.com/exit

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In this episode of The Exit: Vincent Alessi, a multiple-exit founder and current subject matter expert at OpenAI shares his journey from humble beginnings in Michigan to becoming a successful entrepreneur and AI expert in the fields of biology and chemistry.

He discusses his first venture, Covaron Advanced Materials, which developed innovative materials with a strong sustainability profile. The intellectual property alone was worth $32M and the company was acquired by an industrial consortium after a nine-month process.

In preparation for the exit, Vincent was intentional about creating a plan for how the business would continue to be successful without him as the founder.

The exit allowed Vincent to transition into new areas, eventually leading him to his current work in AI, specifically in biosecurity and chemoinformatics at OpenAI.

Vincent provides a cautious but optimistic view of AI's future, predicting significant advancements in scientific applications within 5-7 years.

For more details and insights from his entrepreneurial journey, listen to the latest episode of The Exit.

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Vincent Alessi is a multi-time exited Founder who creates and sells innovative technology products by inventing solutions to valuable problems while running the GTM and commercialization to get them into customers hands. With 12+ granted patents, 2 company exits, multiple successful products, and >$1.9B of enterprise value created, Vincent is happy to offer his help to others through consulting and advisory services.

Sign-Up Link for Bits In Bio - https://www.bitsinbio.org/

LinkedIn - https://www.linkedin.com/in/vincentaalessi/

Check Out Flippa’s Data Insights Tool: https://flippa.com/data-insights

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The Exit—Presented By Flippa: A 30-minute podcast featuring expert entrepreneurs who have been there and done it. The Exit talks to operators who have bought and sold a business. You’ll learn how they did it, why they did it, and get exposure to the world of exits, a world occupied by a small few, but accessible to many. To listen to the podcast or get daily listing updates, click on flippa.com/the-exit-podcast/