Deal Story: First Time Seller
When Chee Yang, the owner of Ace Colorz Auto Body LLC, decided he was ready to sell his business to pursue other interests, he knew he needed help. Chee called Calhoun Companies and was put in touch with agents Chris Lappen and Duane Johnson.
“Most business owners are not able to sell their business on their own,” says Chris Lappen. “Starting, growing, and managing a successful business requires a different skill set than selling one. If you want to successfully sell a business and see your legacy left in good hands, trust a professional.”
Chris and Duane got to work immediately, analyzing the business and getting it ready to hit the market. Luckily, the business itself was in a good position to sell. While there was not much infrastructure, the location was ideal and financials were in order and easily reconciled. Taking into consideration that Chee ran the businesses on his own with some part-time help, Calhoun Companies helped determine the price and set the business up for a quick sale.
The ideal buyer quickly became apparent. An industry buyer was actively looking to expand their operations, and was interested in acquiring Ace Colorz Auto Body. The deal would give the buyer additional space and business, while Chee could trust that his loyal customers would be left in good hands while he moved on to other passions.
“Finding a synergistic buyer is often a great outcome for a seller,” says Lappen. “These deals often end up being win-win situations with sellers being able to leave their business in good hands and buyers being able to grow their companies.”