DON’T SELL YOUR BUSINESS … yet. Consult with Exit Factor of Minnetonka before you put all your hard work up for sale! The locally owned consulting firm partners with business owners who want to maximize profitability, increase value, and prepare for a successful exit – on their terms. Proceeding without Exit Factor’s expert guidance is tantamount to leaving good money on the closing table.
And You Like Good Money
“I started out as an engineer, making microchips,” said Chris McBride, president and chief strategist of Exit Factor. “I spent nearly twenty years analyzing intricate systems, making sure they flowed together seamlessly.
“That skillset would serve me well in my next enterprise: an HVAC company, which I bought and ran for seven years. I tripled its sales and doubled its profits before selling to a private equity firm. Even so, it was only after the fact that I learned how much more money I could have taken from the sale, primarily by leveraging tax code in ways I hadn’t known were available at the time. A lesson learned the hard way!
“I decided to dedicate my career to helping fellow entrepreneurs avoid my mistakes. After lengthy research, I determined that Exit Factor offers precisely the wide network of experts and proven process that would help me do it best.
“A business may be extremely profitable, but that doesn’t mean it’s in its most profitable condition. Exit Factor analyzes every opportunity to make its owner’s departure as lucrative as possible, which begins by determining its current market value.
“How long has your business been around? Does it face any large risks? Does it possess any unique competitive advantages? Have you established plans to sell it before? Once we have answered questions like those and gathered comps, we’ll have a clearer picture of where your business stands relative to its peers, and where there are opportunities to improve its position in the market.
“Those opportunities may include raising profit margin. That was very much the case when I took over my HVAC company. It had initially fabricated its own sheet metal, despite being able to purchase the same product for one third of our materials and manufacturing costs. That change alone raised the profit margin on new construction from two to ten percent.
“Admittedly, that is only a single example. There are as many solutions to raising profit margin as there are businesses themselves. But once you’ve brought in an independent analyst to examine your own business’s internal processes, you’ll be amazed by how much more profitably it can operate with just a few judicious changes.
“Sometimes increasing profit margin isn’t the answer. Opportunities may instead await in increased sales, more efficient bookkeeping, more effective networking, or expanded marketing. Exit Factor will reveal them all, wherever they are hidden. For example, are you currently doing work that you could delegate, automate, or outsource? Simply doing so can make your job massively easier – and that much more appealing to a prospective buyer when it’s time to sell.
“Our process also identifies the most common concerns with selling a business, so that they can be mitigated before they kill a deal during due diligence or even at closing. Existing contracts and lease agreements often do just that, which is why we pinpoint and rectify them long ahead of time.
“While we optimize your business’s market value, we’ll also begin evaluating your exit strategy. Would you like to hand your business down to a family member? Trade it for another business in an altogether different industry? List it with a broker? Sell it to private equity, or to your own employees? We will help you evaluate your options, develop a strategy, and assemble a team to achieve your best outcome.
“I love fixing businesses, plain and simple. Helping entrepreneurs reap the greatest reward for all their hard work is the greatest feeling in the world – and I’d like to help you to get to greener pastures next. Reach out for a free consultation today!”
Call (952) 373-1922 or visit ExitFactor.com to get started!
DID YOU KNOW?
• Exit Factor typically doubles their client’s free time.
• Exit Factor increases business value by an average of fifty-four percent.
• Eight out of ten listed businesses fail to sell. Exit Factor’s success rate? One hundred percent.
• It typically takes six to twelve months to sell a business. Exit Factor halves that time.