BUSINESS NAME: | Appliance Repair Business |
LOCATION: | Charleston, South Carolina |
INDUSTRY: | Trades/Services |
BROKER: | Adam Petricoff |
Situation
This business, founded by a husband-and-wife team in 1999, is strategically located in a fast-growing area. With a solid reputation for responsiveness and high-quality service, the owners had built a successful business and were now ready begin a new chapter in their lives. They knew Adam Petricoff personally and reached out to him to broker the sale of their business.
Our Proven Process to Successfully Market and Negotiate a Sale
Adam Petricoff was pleased to help his friends and be the champion of their goal to start a new chapter in their lives. He saw great opportunity in bringing this successful and well-positioned appliance repair business to market.
With a compelling Confidential Business Review (CBR) prepared, Petricoff took the business to market emphasizing the opportunity that this well-managed, turn-key appliance repair business presented in a high-growth market. The business listing immediately attracted a lot of attention from prospective buyers including more than 50 NDAs signed to gain access to the CBR. Multiple offers were received and despite being amid peak holiday season, the business brokerage process rapidly progressed from offer to negotiation to due diligence, financing, and close.
Petricoff had the pedal to the metal from offer received on 11/18 to closing on 1/14, less than 60 calendar days that happened to include Thanksgiving, Christmas, Hanukkah and New Years Day.
The Result
The buyers had significant business experience, having bought, grown, and sold a business recently. They enjoyed the experience so much, they decided to jump right back in the market and while looking discovered this appliance repair business for sale in Charleston, SC. They chose to ‘rinse and repeat’ their past experience and jump in to learn a new industry and apply their knowledge and can-do attitude to build on all that was already in place to take this business to the next level. The sellers were thrilled to find enthusiastic buyers to continue to care for and grow the business that they had worked so hard to build over the past 25 years.
There was a great fit among the sellers and buyers and a combined energy and commitment to move quickly. A conventional loan completed the financing aspect of the deal structure as both parties and attorneys remained highly responsive and committed to getting the deal done. Business Broker Adam Petricoff and transaction manager Lauren Stewart navigated holidays and common hurdles that arise to enable his sellers and friends to look ahead to a new chapter in their lives, knowing that the two new owners were highly capable and energized to own this appliance repair business.
“I was extremely impressed with the top-tier client service provided by Adam and his team. Their expertise in the field of business sales led to a successful transaction that exceeded my expectations. The entire process, which can be quite stressful, was made smooth and efficient thanks to their knowledge, experience, and professionalism. I highly recommend their services.”
Tara Hubara, Owner and Seller
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When it comes to one of the most important milestones in your life — selling your business, secure a business broker committed to achieving your goals.