Jeff Pohlman, Pohlman Tire & Auto Service.
“I just wanted to send you an email letting you know how much I appreciate working with you throughout the entire process of selling my business. When I was first contacted from the potential buyer I did not consider using a broker. I believed that I could handle the negotiations on my own. I did my own calculation of EBITDA and came up with a value for the business and what I thought would be a fair market price for the leases on my store locations.
Fortunately for me, you just happen to call that very day. You informed me that there could be buyers looking for a business of my size and you would like to handle the negotiations. I sent over the requested documents and you came back with a higher EBITDA than I had calculated and increased the lease values for my 5 locations based on the research you performed on the land values in my areas of operation.
I know most business owners do not entertain the thought of using a broker for the sale of their business. And I was one because of the cost of the brokers fee! But now I am a believer of the value a good broker will bring. Your fee was not only offset by the increased value of the business but the total increase in the overall lease agreements made the decision to sell an easy choice. My advice to other owners: business owners make poor negotiators. Hire a broker, pay the fee and enjoy the benefits of having a professional handle all the details of one of the most important decisions of your life.