By Carl Grimes (CBI Founder)
The call came in with good news, good news that was ten years in the making.
The call was from Laura Ruether asking what address she should mail the check to?
I always enjoy calls that start like that, but it was doubly satisfying as Laura explained this was the last in a series of checks to us at CBI for a business (DataKeeper Technologies http://data-keeper.com/) that we sold for her over 10 years ago.
That’s right, Laura was still collecting royalties on a business she transferred back in 2011 and she (and CBI) are thankful for it.
Laura had this to say about her first experience selling a business, “Ten years after selling my computer software company through CBI, I can look back and realize that a confidential business broker is the only way to go.
Not only did I get the sale price desired, but had multiple offers to choose from and the final offer structure accepted gave me 10 years of additional income and helped my tax situation.
CBI helped me understand that if I chose the right buyer and put some “skin in the game” with a little owner’s financing in the way of a slightly less sales price in exchange for royalties over 10 years, I would do much better in the long run.
I did in fact make double my sales price due to royalties over the next 10 years.
I have lifelong friends in both Allen Lindley and Carl Grimes of CBI and the buyer of my company.
Don’t get me wrong, the process is full of ups and downs and there is nothing you can do to make it a completely smooth sale process, but if a seller is willing to properly prepare all documentation requested by the broker in a timely fashion, and listen to the broker’s advice about price, the business will sell. Don’t forget, a broker makes more money when you make more money, so they absolutely work hard for you.”
That’s about as strong an endorsement as we could ask for.
Working with Laura was a pleasure as she was coachable, prepared and responsive, things every seller needs to be to get a deal closed.
Her integrity and creativity created a deal structure that the buyer embraced as Laura continued to assist him for a period of three years after the sale.
Deals like Laura’s are both financially, professionally and personally rewarding.
Now, who’s next?