PLAN YOUR EXIT
Unlock the value of your service business
M&A Advisors | Business Acquisitions
THE BURNOUT EFFECT
What started as a dream and has been your passion for the past 10, 20, or maybe 30 years can run you down over time. The burdens of running a small business, even a successful one, can be taxing. You wear too many hats, you work extremely long hours and you always feel your resources are stretched thin.
For years, small business owners who didn’t have someone to pass their business down to were forced to walk away and maybe get pennies on the dollar for their equipment.
DEFINE YOUR OWN FINISH LINE
The world has changed. Today small service business owners can reap the rewards of a surge in private equity coming into the services space.
For business leaders who build strong businesses, there is a huge opportunity to execute a very profitable exit plan. Now you have the opportunity to define your own finish line. Whether you are looking to retire, or just start a new chapter in your professional and personal life, there really is no downside to having a strong exit strategy.
AN EXIT PLAN CAN TAKE MANY DIFFERENT FORMS
From a $300 pressure washer to a 7 figure wash business, Ray Burke exited his business as a way to fund his retirement, and focus on helping other wash businesses find the same success.
From literally zero to the successful sale of a $7M service business, Jeremy Morgan decided to stay on and continues to lead Krystal Klean into the next stratosphere of growth and prosperity.
MORE THAN YOUR AVERAGE ADVISOR
Tony Morgan spent 20 years growing and then exiting Krystal Klean, a window washing & painting company, with his brother Jeremy. During that time they acquired over 20 companies, and built a $7M service business.
After his exit, Tony is putting his experience into his passion for small business owners by helping them have a successful exit of their own service businesses.
The difference between a good exit, a great exit, or no sale at all really comes down to understanding the M&A process in the context of a service business. The Sell Your Service Business Podcast is all about guiding you as you explore what it takes to grow and successfully exit a service business.
WHAT MAKES A BUSINESS SELLABLE?
Traits of a Sellable Business
- Systems Driven
- Recurring Revenue/Contracts
- Number of Customers
- Strong Profitability
A sellable business, one that is desirable to a buyer, is also the best kind of business to own. There really is no downside to creating a sellable business whether you plan to own it for 5 or 15 more years.
What Does The Acquisition Process Look Like?
Evaluation
Close
Earn Out
Freedom
SELL YOUR SERVICE PODCAST
Episode 1: Your Pot of Gold At The End of The Rainbow
This is the sell your service business podcast. A discussion dedicated to the art of building and taking your service business through the acquisition process. In this episode we discuss the plight small business owners go through as they grow, hit ceilings, and find themselves ready to move on. And the exciting market we are in where private equity and other buyers are buying up service businesses and creating a huge opportunity for business owners to make a meaningful and life-changing exit. Tony Morgan, the co-founder of Krystal Klean, built a sold a $7M service business. Today Tony focuses his attention on helping other business owners navigate the acquisition process. Brad Williams, co-founder of Structured to Grow is a speaker, entrepreneurial enthusiast, and GTM consultant.
Episode 2: An Insider view to buying and selling a service business
The buying and selling service businesses have undergone a massive transformation in the last 20 years. Where once businesses were bought and sold for pennies on the dollar, today there are serious buyers with deep pockets creating opportunities to build and then exit a service business with a lucrative return. Tony, built his business during the wild west days, acquired 21 companies in a span of 20 years, and has seen that world change dramatically from a first-hand perspective. This journey culminated when he and his brother sold their $7M service business to a private equity group. After going through this transition in his own business Tony stepped into the role of helping other entrepreneurs through their journey of exiting a business. In today’s episode, we are going to talk about that journey, what it was like, and the world of service business acquisitions today to set the stage for the next episodes where we will dive into several aspects of what it takes to successfully exit your service business.
Episode 3: What Is My Company REALLY Worth?
When it comes to a company valuation there are many misconceptions that float around, so in this episode we are going to debunk the myths and talk about the nuanced process a buyer would undergo to come up with the fair market value of a company.
We discuss EBITDA, adjusted owner benefit, the multiple and how it’s affected, duplicatable results, being process-driven, and the importance of timing.