I always knew that The Contract Shop® was special, but I never expected it to get swooped up as fast as it did when I put it on the market to sell. Truthfully, I’m more than happy with my decision, and the new buyer made me an offer I couldn’t refuse.
I’m happy with my decision, and I’m excited to see how it all unfolds under new ownership!
But that doesn’t mean this buying process was perfect — far from it actually. My business got offers and sold faster than most, but there are still a few things I wish I knew about selling a business and a few things I’d change if I had to do it all again.
Working with a brokerage to sell your business is kind of like working with a realtor — you can’t really list with more than one. But with brokerage firms, you can see what they value your business at before you decide to list. And while the one I worked with this time around was amazing, I have a feeling I may have been able to get more for The Contract Shop®.
Don’t get me wrong — the offer I got for it was amazing, and I’m so glad the process was easy and straightforward. And that I got offers faster than most people do. But I’m just plain old curious as to what else may have been out there.
I know that talking to too many people before making a decision can lead to analysis paralysis, but I still wish I had the chance to get more weigh-in. Surprisingly, this isn’t an easy topic to research. There’s not a lot of information readily available.
In fact, it kind of seems like a secret industry — which is part of the reason why I’ve been talking about what it’s like to sell your biz. If I had known more people who knew about this, I probably could have asked for a higher price because I would have had that insight going into the deal.
While I had been thinking about selling The Contract Shop® for a while, I still don’t think I was all the way ready to let it go.
Right after it sold, I was driving, and a song from 7 years ago came on, right around the time I started that business. It instantly reminded me of that time in my life, and there I was suddenly crying my eyes out!
I had set it to sell, not thinking any offers would come, but it happened so fast.
It is what it is now, and I by no means regret it, but if you’re thinking about selling your business, I would not do it while in the middle of other life transitions or changes. That ish is emotional!
Even if you don’t think your business is worth much, you could still make a lot from it. I can’t disclose what The Contract Shop® sold for, but I can say that you should definitely put some feelers out there if that’s what you’re leaning towards. You never know…the amount could change your life!
If you’re inserted in learning more about what goes into selling an online business, check out the video below, where I give you a complete behind-the-scenes look at what it’s really like!