Being one of the potential buyers who couldn’t even get a call with the seller, this experience was a personal reminder to have my commitment, plan, and financing fully buttoned up before engaging with a broker. Good businesses move fast, and the competition is fierce. I review about 50 businesses a week, and this one stood out because Walker’s package was exceptionally well done. It painted a clear picture of the past, reduced unknown risks, and outlined a bright future for the business. Unfortunately, by the time I mulled it over for a weekend, it was already gone. My takeaway: being prepared is crucial, and a good broker can make all the difference.
Several times I've been a potential buyer on an appealing business. Sent what I thought was a pretty solid LOI. Then either didn't hear back at all or eventually heard back that there were so many LOIs they could hardly deal with them. Then found out months or a year later they are back on the market. So I kind of wonder if really hot businesses like this have a huge amount of interest at roughly market prices - which (reasonably) inspired sellers to seek above-market prices - then have a hard time finding someone to close.
Did you misspeak at around ~8:00, where you said the bidding had pushed the price up to about where she bought it? I would have expected that even if she wasn’t interested in scaling the business that her operational improvements would have added some value.
Respectfully, is this also an indication that the business is priced too low? It sounds like the extra work you did is not being fully monetized if the demand is that high. Or is that something just learned in retrospect?
Hey walker, Loved your content, however i couldn't help but notice how we can do some tweaks in your video editing, that will improve retention and engagement. If you are interested in discussing them, give us a reply
Being one of the potential buyers who couldn’t even get a call with the seller, this experience was a personal reminder to have my commitment, plan, and financing fully buttoned up before engaging with a broker. Good businesses move fast, and the competition is fierce. I review about 50 businesses a week, and this one stood out because Walker’s package was exceptionally well done. It painted a clear picture of the past, reduced unknown risks, and outlined a bright future for the business. Unfortunately, by the time I mulled it over for a weekend, it was already gone. My takeaway: being prepared is crucial, and a good broker can make all the difference.
Several times I've been a potential buyer on an appealing business. Sent what I thought was a pretty solid LOI. Then either didn't hear back at all or eventually heard back that there were so many LOIs they could hardly deal with them. Then found out months or a year later they are back on the market. So I kind of wonder if really hot businesses like this have a huge amount of interest at roughly market prices - which (reasonably) inspired sellers to seek above-market prices - then have a hard time finding someone to close.
Did you misspeak at around ~8:00, where you said the bidding had pushed the price up to about where she bought it? I would have expected that even if she wasn’t interested in scaling the business that her operational improvements would have added some value.
Respectfully, is this also an indication that the business is priced too low? It sounds like the extra work you did is not being fully monetized if the demand is that high. Or is that something just learned in retrospect?
Hey walker,
Loved your content, however i couldn't help but notice how we can do some tweaks in your video editing, that will improve retention and engagement. If you are interested in discussing them, give us a reply