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]