Let me take you back to a Wednesday morning. I was sipping strong black coffee (cowboy style, none of that frothy oat milk nonsense) on the tailgate of my truck, watching the sun rise over the ridge behind the shop. That’s when it hit me—this business I’d built with my bare hands and God’s good humor had grown bigger than I ever imagined… and I was ready to let it go.
Now, I ain’t gonna lie to you. Selling a business is not like selling an old Harley or pawning your granddaddy’s pocket watch. It’s a full-on rodeo—financials, lawyers, emotions, and a whole bunch of people with clipboards asking uncomfortable questions. But if you hang with me a bit, I’ll lay it all out—straight talk, hard lessons, and the one thing I’d absolutely do again if I had to sell another business.
Why the Heck Was I Even Selling My Business?
Good question. And one I asked myself about thirty-seven times a day.
I wasn’t burnt out, exactly. I wasn’t broke either. Truth is, I just knew it was time. I’d taken the business—a custom fabrication shop—from a one-man operation in my garage to a team of 12 cranking out work for half the state. I wasn’t just tired, I was finished. There’s a difference.
And the idea of spending more time on my land, maybe finally writing that outlaw country album I’d been threatening to record since ’94… well, it sounded better than another quarterly tax meeting.
So the question was no longer if—it was how.
Mistake #1: Trying to Sell It Myself
My first idea (and buddy, it was a bad one) was to DIY the sale.
I mean, I’d negotiated equipment deals, hired crews, even navigated the IRS without losing my mind. How hard could it be to sell a business?
Spoiler alert: Real hard.
I put together some spreadsheets, cleaned up the books, and reached out to a couple of local investors I’d met over the years. One guy ghosted me. Another offered half what the business was worth—and he wanted me to stay on and run it for two years. For free. 😂
That’s when I realized I needed help.
Enter the Business Broker
Now, if you’ve never worked with a business broker, here’s the deal: they’re kind of like real estate agents for businesses. But the good ones? They’re more like private investigators, therapists, and financial analysts all rolled into one many of which are listed on reputable sites like Business Broker News.
I found mine through a referral—guy named Rick. Wore bolo ties, had a gravelly voice like he smoked cigars with breakfast. I liked him instantly.
He came into my shop, looked around, and said something that stuck with me:
“You don’t just want a buyer. You want the right buyer. Someone who won’t run your legacy into the dirt.”
Preach, Rick.
The Valuation Wake-Up Call
Rick put me through a valuation process that made my head spin. I’m talking EBITDA, SDE, market comps, asset breakdowns… It was like the financial version of looking at yourself in one of those brutally honest dressing room mirrors.
Turns out, I had some strong numbers, but there were a few weak spots too—like customer concentration (too many eggs in one client’s basket) and sloppy documentation on recurring contracts.
Here’s the kicker though: with Rick’s help, we cleaned that stuff up. In about three months, the business was leaner, meaner, and way more attractive to buyers.
The Showings… Like Dating, But Weirder
Once the business hit the market, it felt like online dating. But instead of photos and brunch preferences, it was profit margins and growth potential.
We got bites. Some were just tire-kickers. One guy thought he could double profits by cutting staff and outsourcing everything overseas (hard pass). Another didn’t have financing lined up.
But then came her—a woman named Lisa who ran a successful HVAC company and wanted to diversify. She “got” the business. Understood the culture. Talked to my shop foreman and didn’t flinch when he dropped an f-bomb.
We had a winner.
The Deal: Not Fast, Not Easy, But Worth It
From LOI (Letter of Intent) to closing took about four months. There were more Zoom calls with lawyers and CPAs than I care to count. But we worked through it.
Price was fair. Terms were clean. And here’s the best part—Lisa asked me to stay on for 90 days as a consultant, just to help with the transition. She even paid me for it. Double win.
The day the wire hit my account, I didn’t buy a Lambo. I didn’t fly to Bali. I took my wife to that old steakhouse in town we hadn’t been to in years. Ordered the ribeye, medium rare, with a bourbon neat.
And I exhaled.
So… What’s the Best Way to Sell Your Business?
Glad you asked, partner. Here’s my take, boiled down to brass tacks:
Hire a business broker. Not your cousin who “knows a guy,” but someone experienced in your industry who listens. They’ll earn their commission and then some.
Get your financials in order. Clean books are sexy. Seriously. Hire a CPA if you need to.
Know your why. Selling a business is emotional. Be clear on your reason or you’ll second-guess everything.
Find the right buyer, not just the richest. Your business is your baby. Don’t sell it to someone who’ll trash it.
Be patient, but prepared. Deals fall through. Keep your cool. And don’t stop running the business while you’re trying to sell it.
Final Thought from a Guy with Calloused Hands and a Full Heart
If you’re thinking about selling, don’t wait until you’re desperate or broken down. Do it from a place of strength. That way, you walk away proud—with money in the bank and your name still carrying weight.
And hey, maybe you’ll end up like me—writing blogs about it from your porch with a guitar on your lap and your dog at your feet. Not a bad trade-off, if you ask me.
Now go get what you’re worth. 🥃
P.S. If you’re seriously considering selling and don’t know where to start, shoot me a message. I may not be your broker, but I’ll sure as hell point you in the right direction.