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7 Minute Selling Video
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Why use BBI to sell your Practice
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For example:
1. Lee Fernandez, CPA called me in October to ask my opinion. He said he was thinking of selling but was not sure. It turned out he had cancer and would be going through “chemo” soon, but also, his current rent was going to double so he had signed a 5 year lease with a CPA friend who had just purchased a building. I told him to explain to the CPA about his cancer and get out of the lease. I then did a targeted mailout to CPA’s in his area and within a week had 7 buyers lined up for interview. I took time out from my vacation to handle the interviews. He ended up with an “all cash” deal and lived for two more years before passing away at age 66.
2. I got a call from Mark “E” regarding a situation concerning his cousin’s husband, Bob. Bob was in the hospital, unconscious already for 11 days with a failing heart. Mark E invited me to a meeting with the wife, her father, two attorneys, Bob’s insurance agent, the bookkeeper and 2 CPAs that were keeping the business going. As soon as Bob came out of his coma and was able to agree to the sale of his practice, I lined up 5 CPA’s for interviews and sold the practice for all cash with an SBA loan. I took time out from my vacation in Canada to “handle” the deal through. The buyer was in the practice within 2 weeks.
3. On a referral call from a past client, I listed Mr. Brown’s practice, which had declined to $6,700/yr annual gross. Turns out his office building had burned down 2 years prior, he sold off most of his clients, and he was dying of pancreatic cancer. I dropped my commission way down – he and his wife needed the money. Sold it in 3 weeks. Buyer still comments on how well the deal went.
When you need help, call Business Brokerage. We can help you solve your problem.
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