By Cristhine O

Top Four Reasons Sellers Choose Akbosh Investment Group

An interview with Christopher Wick, investor and chairman of Say Yes! Enterprises 

Are you looking to sell your business? Or maybe you’re frustrated by brokers, unproductive listing sites, and unfair offers?

Then Say Yes! Enterprises is the right fit for you.

Say Yes! Enterprises was established by Christopher Wick, a serial entrepreneur based in Texas. Wick has many years of experience in the acquisition, building, and selling of successful businesses. After successfully assisting over 400 businesses through his award-winning international marketing agency, he transitioned into a full-time career in mergers and acquisitions.

Say Yes! Enterprises (SYE) was founded with a focus on catering to the needs of the sellers. Wick has first-hand experience of business acquisitions, having been both a buyer and seller in a business transaction. He understands the unique needs of business owners looking to sell their businesses and the limited availability of reliable resources available to assist them.

Business owners looking to sell their businesses

For SYE’s first acquisition, wick purchased a popular e-commerce store. His first official offer was accepted because there was an in-depth understanding of the seller’s desires, a thorough briefing of the business value, and a strategic discussion about the future of the business. One morning, he received this message from the seller:

“Hey, Christopher! I received your offer, and I want to let you know that I actually received a higher offer today. However, I think you’re the best person for the business. I’m going to accept your offer.”

The seller accepted his offer, and in less than seven days, he officially sold the business to Wick.

The big question here is: why did the business owner accept a smaller offer?

Why did the business owner accept a smaller offer?

Wick, while explaining this, stated, “ He did not accept my offer because it was the most money. He took my offer because of the education I gave him around his company’s value, the future of his business, and the level of investment I was making into the relationship with him. While the offer was absolutely in the zone of fairness, most sellers aren’t just seeking the most money: they’re seeking the most certainty and trust of who they’ll be working with.”

Listed below are the top four reasons sellers choose Say Yes! Enterprises.

1. Fair Valuations

SYE works to establish a business situation where all parties involved will benefit equally. For the smooth running and establishment of every business, there is a demand for a large investment of money, time, and effort. Business owners rightfully deserve fair and equitable valuations based on industry data, solid figures, and business performance.

EBITDA

Business valuations are determined based on the assessment of EBITDA, SDE, or profit valuation using industry-specific multiples. Though every business has its uniqueness, there are, however, categories and established industry standards applicable to each one.

If a buyer presents an offer that is too low, he is at risk of offending the business seller, potentially damaging the relationship, and losing the deal. Therefore, one of the most important factors in any acquisition is offering a fair offer that will benefit both the buyer and the seller.

Aside from the traditional valuations of companies, Wick also stands out as an exceptional investor because of his ability to recognize intangible assets.

Some assets do not have representation in a company’s profit and loss statement, yet Wick excels in identifying these intangible valuables. For instance, a large customer list and social media following that are valuable for future marketing efforts significantly increased the valuation of his first e-commerce acquisition.

2. Quick Closings

For a business seller, only a few things are more frustrating than getting stuck in an unnecessarily long business deal. Generally, most business deals that take too long to be concluded don’t often work. Instead, it costs business sellers their time and money.

Quick closings

Some entrepreneurs build their businesses with the intention of selling later.  However, most of them only opt to sell because of a problem or because they are going through a major life change such as burnout, retirement, partner problems, and huge financial expenses. SYE seeks to offer prompt assistance and relief in such circumstances.

The selling process is in three phases. In the first phase, Wick takes his time to know the business owner and his needs. The second phase involves a detailed discussion of the business’s financials and its valuation. Finally, an offer is made in the third phase.

Due to the simplicity of the process, any business owner who reaches the third phase can expect an offer. With so many deals in what is referred to as “deal flow” by acquisition professionals, Wick can quickly discern within the first and second phases if the deal will be possible. Wick holds a deep respect for business owners and their time. He also acknowledges the opportunity cost of the time business owners have invested that doesn’t result in a successful deal.

3. Flexibility 

SYE works with both buyers and sellers. Sometimes, business sellers have specific needs or a specific timeline to meet. However, you should know that special circumstances do not rule out the possibility of striking a deal.

Flexibility

According to Wick, “Special circumstances are usually what’s prompted the sale of the business in the first place. Where I’m able to add more value than traditional business buyers is my depth of understanding of what it’s like to be on the other side of the table as a seller. Sellers have needs. If a buyer doesn’t address those needs, they’ll most certainly either lose the deal or have an unpleasant transaction.”

Deal financing takes place separately according to each case in question. Many sellers aren’t aware of the financing options available for the sale of their business. While some deals involve an upfront cash offer, most transactions involve other forms of financing solutions like downpayments, seller financing, earn-ins and earn-outs, equity agreements, or revenue sharing. Sellers have several opportunities to either benefit only once or as Wick advises, on an ongoing basis.

4. Continuity 

As stated by Wick in an interview, “The seller is looking for someone who is credible. Someone who has resources, and is actually going to give them a fair offer. The next thing that a seller cares about is the future of their company. Sellers are looking for continuity and something they can be proud of with their milestone of selling their business.

Continuity

When I go into a company, I’ll almost always keep all the team members because I want to give them security and safety. Many business buyers will immediately go into a deal and trim staff to grow profits. While they can provide an immediate “benefit” to investors, that’s a poor choice in the material relationship with the business seller.

Acquisitions don’t happen overnight, and you’re going to have to work together. Sellers care about a fair offer, continuity, and quite frankly, someone that will be pleasant to work with.”

Selling a business should not break the seller’s emotional tie to the business. For many sellers, their company carries their name as well. So, after the sale, they continue to care deeply about the success of the business they built, the well-being of the staff they employed, and the satisfaction of the customers they served.

An essential aspect of continuity in business is upholding and continuing the seller’s vision for the company. Thus, in the discovery phase, SYE diligently takes the time to understand this vision, develop a plan, and implement strategies to propel it forward.

Discovery phase

On his reasons for this, Wick says,  “I try to see what is something they wanted to accomplish but maybe didn’t quite hit their goal. I ask myself, how can I make that happen? Did they have products they wanted to try but never could? Did they have a goal for how many people they wanted to serve but didn’t? Once I identify some key areas where I can help them achieve these things, this becomes instrumental in building the relationship with the seller.”

Say Yes! Enterprises is well-equipped with the resources to give sellers fair and equitable offers, a proven process for easy and successful acquisitions, and a high level of professionalism and respect throughout the entire acquisition process.

Want to learn more about selling your business to Say Yes! Enterprises? Or maybe you’re ready to sell your business to Say Yes! Enterprises? Please visit our website at https://sayyesenterprises.com/ or contact us via email at inbox@sayyesenterprises.com.

A Final Note On The Success Of A Business Seller

A Final Note On The Success Of A Business Seller.

“When all is said and done, the seller should have three key things from their business sale: a fair transaction value, a pleasant transition process, and an accomplishment they can be proud of. 80% of businesses will not ever have the achievement of being sold, they are only left to fizzle out or close. Business sellers should be proud when they’re within the 20% that actually achieve a successful transaction.” – Christopher Wick 

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Akbosh Investment Group is an investment management company that acquires, scales, and sells companies that benefit all stakeholders at large.

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