Deal Story: Enjoying Retirement
When you’re a business owner, retiring isn’t as easy as giving a few weeks’ notice and moving on to the next phase in your life. It requires careful preparation, a succession plan, and often the help of experts to sell your business. Mike and Cheryl Field, a husband and wife duo, found themselves in exactly that situation. The two wanted to sell their small business, US Power Bid, quickly so they could enjoy their future together, but they needed help to get a deal done.
They reached out to Calhoun Companies and were referred to Manoj Moorjani and Katie Black who focused on the seller’s main priority, getting a deal done quickly. Manoj and Katie helped price the deal fairly to generate interest in the business. The deal also included an added bonus - the seller was interested in working with the new owners for a year to make a leadership transition run as smoothly as possible.
While looking to sell a business quickly can often lead to hasty decisions, Manoj and Katie guided Mike and Cheryl through the process, ensuring they would find a deal that allowed for a quick transition at a fair price.
Once the business hit the market, there was a lot of interest from buyers. While the first buyer to express interest ultimately was not the right fit, Manoj and Katie quickly helped Mike and Cheryl find the perfect buyer that hit all of the goals they had in mind. Over the next year, Mike and Cheryl will support the transition in ownership, then move on to enjoying their retirement knowing that their business is in good hands.