“Thanks for helping find a light at the end of a tunnel that didn’t involve a train. My business and properties had become interconnected in a way that made it hard to separate, but you found a way to sell five stores that worked for me. Couldn’t have done it without you. It was like your “Selling with Certainty” book was written just for me.”
“When me and my family decided that it was time for us to exit the convenience store industry and sell our chain of 14 convenience stores we did not know where to turn. We heard a proposal from a company that had direct mailed us, but they didn’t seem like the right fit. Fortunately we heard about Terry and his company American Business Brokers through a referral from a friend of ours in the convenience store industry. It was the best thing that ever happened to our business.
Terry was deeply involved in every aspect of the transaction and managed the process from the beginning to the end. Not only did Terry and his company get the stores sold; they also got us more money that we had thought we would get. I would highly recommend Terry Monroe for someone who is wanting to sell their convenience stores.”
“I can’t thank Terry and his company American Business Brokers enough for helping me sell my chain of 11 convenience stores. The stores had been owned and operated by my family for many years and his assistance and guidance was invaluable in making the sale happen. All of his hard work was appreciated and I wish the best of fortune for him in the future and would recommend Terry to anyone who is serious about selling their convenience stores.”
“Terry, I wanted to say thank you for all of your hard work and the time you spent helping me to sell my travel plaza, convenience stores and jobbership. Thanks to you I am now able to enjoy a more laid back life style and the fruits of my many years of work. It has been a pleasure and an enjoyable experience working with you.”
“When Terry and I first talked about selling my convenience stores and jobbership I was some what skeptical. But after he explained his process of how to be successful in the selling of convenience stores he was able to sell my convenience stores and my jobbership thereby allowing me to exit the industry completely.
Terry works very diligent and professionally and gets the job done. He deserves to be called the “closer”.
“Terry did an outstanding job for our company in helping us with the divesting of our convenience stores. His responsiveness and solution minded ideas were instrumental in the closing of deals that would not have happened without his input. If someone has a group of convenience stores and is serious about selling them, I would definitely recommend Terry in getting the job done.”
“I have worked with Terry several times over the years in the selling of some our convenience stores and have always found him to be very professional and knowledgeable. He has a process that he applies as to how convenience stores should be sold and implements the process with effective results.”
“I had been wanting to sell my chain of 12 convenience stores and wasn’t for sure who I could get to help me sell them. Even though I had bought and sold many stores over the years myself I knew that selling a chain of convenience stores is a completely different process. I was introduced to Terry from a mutual friend and with his guidance and tenacious personality we worked though the process of selling them all at the same time. Something that I needed to do, enabling to exit the industry and retire from the convenience store industry.”
“I had a very successful ethanol marketing company with accounts nationwide, but knew the time had come for me to change the way I was doing business. Terry helped consult with me in all of the aspects of selling my business. Not only did help find a buyer for my business, but he helped structure an exit plan that enabled me to receive a higher value than if I had sold the business by myself. What is remarkable is to this day Terry and I still talk on how to structure new acquisitions and business ventures. Great service after the sale.”
“As Director of Business Development for Speedway SuperAmerica, I used the professional services of Terry Monroe, and American Business Brokers, to assist in securing new stores and the disposing of non-strategic assets.
Terry was responsible for bringing Speedway SuperAmerica a group of 14 stores in Ohio that continues to be a very successful acquisition. Terry’s vast knowledge of the Convenience Store business, expertise in buying/selling properties and tireless efforts made for a very smooth transaction from start to finish.
I would strongly recommend Terry and ABB to anyone in the industry with similar needs.”
We have had an excellent working relationship with Terry Monroe and his company American Business Brokers. Because of Terry and his staff, we were able to put together some tough deals that have allowed us to not only divest of some under-performing stores, but free up capital dollars for some new builds in areas we were needing to expand into. We appreciate Terry’s help and look forward to working on future deals with Terry and American Business Brokers.
Terry and American Business Brokers handled the sale of my businesses and I was pleased with their attention to detail and being accessible when I needed to speak with them. I found Terry to be honest and represent my interest. I would recommend him to anyone who is anticipating selling their business.
Terry and me still talk about the challenges we faced and all of the issues that we had to deal with in order to get my chain of convenience stores sold. However, through his perseverance and willing to not give up we were able to put the deal together and most of all get it closed. I would recommend Terry and American Business Brokers if they really want to get a deal done and closed.
We started with over 20 convenience stores that I had accumulated scattered all over the State of Illinois. And we did it the hard way. Selling them one and two at a time, but Terry and his staff at American Business Brokers got the job done and now I can truly say that I am out of the convenience store business.
“Terry, my partners and I would like to thank you for representing us in the selling of our 23 convenience stores. Even though they were located in Texas, Indiana, Michigan, Pennsylvania, Maryland, Kentucky and New York your expertise and professionalism was a great asset in finding the right buyer for our stores.
This was a difficult decision, but you gave us the encouragement and insight that this would be the best opportunity for us.
We appreciate all the communications of keeping us informed of all the activities through the process. We all consider you a friend professionally and personally.”
“Our family had been in business for 3 generations when we decided to exit the fuel transit business. I contacted Terry, because I knew he was experienced in the valuing and selling of petroleum related assets. Eventually Terry and his group not only helped our family sell the transit business, but also our fuel distribution business and our fuel terminal.
Terry is well versed in the art of negotiating and deal making and was able to coordinate the sale of our company in a complex stock sale, thereby giving our family a tremendous tax savings and more profit to be shared among the family.
I would recommend Terry Monroe and his group to anyone who wanted to know what the market value of their business is worth and to help them sell their business for top dollar.”
“The outcome of employing the services of Terry Monroe was exactly what I had hoped for. Our stores were sold in a timely manner to a buyer that was fully qualified to perform the purchase.
I was originally hesitant, as a long time and successful business owner, to employ and pay a fee to a third party intermediary for a service that I thought I could perform myself. It was only after several conversations with Terry and his partner Bill Fecht that I realized that they were professionals in the area of marketing and the selling convenience stores.
Even though I had sold stores in the past, I was not able to find the type of buyer who would fit the selling criteria that I was looking for, but Terry did. The selling of one’s business is a very detailed and prolonged process, but Terry was there to help guide me through the many facets of the process and assisted me with the answers and guidance I needed to get the sale completed.”
“Our Oil Company and chain of convenience stores has been out family for 4 generations. So when the decision was finally made to sell, we wanted to make sure we had the person that could take us to the closing table and get us the highest value for our company. Our conversations with Terry spanned over several years and during that time he stayed with us and guided us on how to position our company to be sold for its highest value.
We feel that because of Terry and his expertise in the selling of convenience stores and his guidance in the selling process we were able to get the highest value for our stores and able to complete the sale of our family business in a timely manner.”
“I had talked with Terry over the past several years about the selling of my convenience store and truck stop, but when I finally made the decision to move forward, Terry sold both of the units for me and my only regret is I did not employ him earlier to get the stores sold.
If you are looking for someone who will work until they get the job done I would recommend Terry Monroe and his group when selling your convenience store or truck stop.”
I had talked with Terry and his partner Bill Fecht off and on for probably 5-6 years. We would get together and have lunch and they would share with me what was going on in the market place regarding what convenience stores were selling for and what type of buyers were available. We always had a good time talking and our meetings were informative, but I wasn’t ready to sell. So we continued to talk.
Then things changed. The convenience store industry changed to begin with. Even though MKM Oil had grown to 35 stores with several dealers and was extremely profitable I know ii was getting harder to compete with the national chains and we weren’t as efficient as we should have been. Plus I was getting older and the4re was not another generation to step in and take over the company.
SO after 26 years of owning and operating MKM Oil and no one else to take over the leadership or running MKM Oil, I decided to talk to Terry about the possibilities of selling MKM’s convenience stores.
Terry did just what he said he would do. First he worked with us on collecting all of the information about MKM Oil to be able to create a marketing package that could be presented to a prospective buyer and then began to implement the process of selling MKM Oil.
Believe it or not, we were able to keep the entire process confidential until the time we had contracted with the company who ultimately purchased MKM stores.
Terry is well versed in the art of negotiating and deal making and worked hand-in-hand with our accountant and attorney and was a vital part of the team that guided the sale of MKM Oil to a successful closing. I would highly recommend Terry Monroe and his group to anyone who is thinking about selling their convenience stores and wants someone who knows the process and has the skills that are needed to get the job done.
I had called and spoken with Terry over the years about the possibility of selling my convenience store and he was always transparent and informative with me as to what the market conditions were like, however I could not bring myself to putting the store on the market even though I knew it was the right thing to do.
Finally I called Terry and asked him to sell my convenience store and help me to exit the business. However, in order to sell my store I had to sell additional commercial real estate that I had acquired in order to get the sale to go through based on the current regulations in the city so it wasn’t as simple process as I thought it would be.
Terry is very knowledgeable in regards to commercial real estate and the selling of businesses and worked diligently and continually to ensure everything was complete and done properly through the entire process of working with the buyers until the closing of the sale of the store and additional parcels of real estate.
I would highly recommend Terry and American Business Brokers to anyone who is serious about working with a professional and desiring to exit the convenience store business.
Having been in the convenience store business for over 28 years and growing our retail division to 17 stores I always knew that eventually I would probably end up exiting the retail business at some time or another. Over the years I had spoken to Terry and his partner Bill Fecht on several occasions and considered selling our retail stores. Eventually I knew from my background in investment banking that the time was right for me to exit the retail business and contacted Bill and Terry to help me start the process.
Bill Fecht and Terry Monroe did an excellent job in valuing, marketing, working with prospective buyers and eventually closing on the sale of my 17 convenience stores and I could not be happier with their services. I would highly recommend Bill Fecht and Terry Monroe to anyone who is considering the selling and marketing of their convenience stores. They are both professional and knowledgeable in the marketing and selling of convenience stores.
I decided to sell by business in 2016 after being in the convenience store/car wash business for over 28 years. I knew how to successfully run these types of businesses, but wasn’t knowledgeable in selling my own business. Who should I contact that would be interested in purchasing a business – a local competitor or a large out of state company? What information would a potential buyer want and need? How do you keep all the information confidential? Am I too attached to my business to price it fairly and competitively? Since I was probably going to sell only one business in my life, I decided that I needed a professional in this area to assist me so I didn’t make any costly mistakes.
The first step was the hardest, finding the right person to represent me and take me through the process. I found that person in Terry Monroe with American Business Brokers and Advisors. From our first conversation, I knew that Terry was the right person. He explained the procedure and kept me informed every step of the way. When I became stressed, which believe me you will, he was there to reassure me that everything was going along as it should. He also kept the process as easy and straightforward as possible. He is very professional, well connected, honest, trustworthy and always looking after his clients’ best interest.
I can’t envision what it would have been like going through the sale of my business without Terry Monroe or imagine why anyone would want to try this major transaction on their own. I am so happy for both of my decisions – to sell and to hire Terry Monroe.
I had the pleasure of meeting Terry Monroe and Bill Fecht when Bill called to ask if I would be interested in acquiring a large chain of convenience stores in our market. This was the first strength of what makes American Business Brokers successful, they have an extensive and ever growing marketing network of potential buyers and sellers. Often, I hear of a chain in our region who sells and I never knew they were for sale. They “saved the brokers fee” by selling their life’s work to the person across the street. I always wonder how much money they left on the table, by simply not putting their business up for sale in a manner where their competitors can even enter into their final and most important sales transaction. Having a specialized broker makes even more sense, because their network is industry specific to the types of businesses that want to buy your life’s work. They have a pulse on the present expansion appetite that their network of buyers has.
Once I signed their confidentiality agreement, Bill passed me on to his partner Terry Monroe. Like most people in sales, Terry has a warm and friendly professional personality. However, it didn’t take more than a few minutes to realize that Mr. Monroe knew the ins and outs of the C-Store industry like no one I had met before. I thought, this guy could write a book on the intricate details of selling and buying a petroleum business. A few weeks later I found out Terry actually had written “The Art of Buying and Selling a Convenience Store”. To level the playing field, I went out, bought a copy, and quickly read it. While my wife said, it was perhaps the most boring book in print, I could not put it down. If you are interested in exiting, entering, or expanding in this industry, this book is necessary read. If you are serious and passionate about the convenience store industry as your vocation, you can un-level the playing field to your advantage, if read and understand every page. It is an easy read, but it details every step, so a transaction will successfully play out and when the keys are handed over, you can feel confident that if you work hard, you will achieve the ROI you had planned for.
Since beginning in this industry in 1981, I have purchased twenty different petroleum businesses. Every deal and every seller was unique. There are always bumps in the road and sometimes we run into roadblocks. The recent acquisition that we did with American Business Brokers & Advisors went very smooth, because Terry had thought ahead and what would have been a roadblock already was averted, because we had discussed the potential issue and we had a Plan B. Terry is a problem solver who has seen it all before and he has the ability to walk both sides through difficult issues.
I also really appreciate the technological advantage that buying a business through American Business Brokers & Advisors provides. Some businesses do their books in a non-traditional accounting format. Terry and Bill take great pictures and explain clearly, what is for sale. If needed their team will retype the financial reports to give you a few years history and the last 12 trailing months. This allows the buyer to view trends and these reports were all on a cloud format and very easy to view. His team put past environmental reports, past year’s income tax reports, real estate tax data, departmental financials, and organizational charts and I had constant access to these critical documents. He also clearly states EBITDA and other tools the seller feels are important to a potential buyer and their lender.
It is said that at the intersection of your passion and gifts lies true success. I am confident that you will not meet two more passionate people about our industry than Terry Monroe and Bill Fecht. The thing that makes them one in a million as brokers is that passion, but even more so, it is their education and their life experiences in our industry. I would highly recommend talking to American Business Brokers & Advisors if you are thinking about selling your life’s work. You won’t do better than Terry and Bill and their staff to represent you.
My journey into the convenience store industry is likely different than most people who have gotten into the business. My original vocation in the 1970’s was that of a CPA with Arthur Andersen & Company, a large accounting firm. However, I soon observed that my future as a CPA was not the course I wanted to pursue. If I wanted to build equity in tangible assets and be in control of my future, I needed to self-employed.
It was 38 years ago that I was able to purchase an interest in a client in the wholesale and retail fuel business. Like many at the time, we transitioned into salary operated convenience stores over the next several years. In 1993 I acquired 100% ownership and was able to continue growing the convenience store business into a successful and profitable chain of stores. In 2015 Terry Monroe and Bill Fecht inquired whether I wanted to sell my convenience store business. There were many issues to consider. They both are down to earth people who were able to discuss and understand all the pros and cons. After much internal deliberation and discussion with family members along with the guidance and advice from Terry and Bill, I concluded that the timing was right for my family and me to exit the convenience store industry.
Since I am an accountant by training, I was very cognizant of the business and tax ramifications presented by the sale of a business. Terry was able to work with me in helping to find the right buyer who was willing to accommodate my business and tax situation. During the process of working with the buyer of my stores, Terry was with me all of the way to help coach and prepare me what I should expect and how the process works. He was endlessly accessible by phone or email to respond to my questions or concerns.
I recommend Terry and his company, American Business Brokers & Advisors, to anyone who is considering exiting the convenience store industry. This industry is his specialty. His firm has many contacts. Their team members are knowledgeable and skilled working with buyers and sellers.
After owning and operating our 11 convenience stores for a number of years my husband and I decided that it was time to exit the convenience store business and pursue a different industry. While we were thinking about selling we were approached by a national convenience store company who said they were interested in buying our stores and ultimately made us an offer to purchase. What we thought was going to be an easy sale tuned out to be a disaster. The buyer said one thing but did another making us believe they were going to buy our stores only for the deal to fall apart. The experience was terrible and left us with our operations being disrupted and losing employees, because of the buyer’s actions.
It was shortly after our experience with the national company that was supposedly buying our stores that we were contacted by Terry Monroe who said he understood our situation and what had happened, and he could help us sell our convenience stores. To say we were doubtful would have been an understatement. We were tired, upset and beaten down from our previous experience of being taken to the altar only to have the purchase of our stores fall through.
Ultimately Terry was able to convince us that he could sell our stores and he would manage the process and ensure us that we would accomplish our goal and sell our 11 convenience stores.
I am happy to report that is exactly what happened. Terry did find a buyer who was the right buyer who purchased our stores at the market price and Terry managed the process helping us along the way letting us know what was going to happen next and why the buyer needed certain information in order to have a successful closing.
I would recommend Terry Monroe and his company American Business Brokers & Advisors to anyone who was interested in wanting to sell their convenience stores. His experience and determination to make the sale happen was invaluable in the sale of our 11 convenience stores.
After thirty years in the convenience store business, I knew it was time to sell, but my concern was who would I get to help me sell my business? Fortunately, I was referred to Terry Monroe who specializes in the sale of multiple convenience stores.
Terry worked diligently and was able to find a reputable buyer. My experience in working with Terry was that he was experienced and knowledgeable in what he was doing and he made the transaction go smoothly and timely. Terry was always friendly and personable, but at the same time professional. I would recommend Terry to any prospective seller who is considering selling their business.
We were extremely impressed by Terry’s diligence and professionalism in marketing of our convenience stores. He brought that same approach when it came to closing the deal. It takes someone with his level of experience and knowledge to move the entire process from preparing a business for sale to finding a buyer to ultimately a timely closing.
Terry was always candid and upfront with his communication and was excellent throughout the entire process. We made the right choice when we signed on with Terry and would recommend him to anyone who is looking for a knowledgeable and profession individual who gets the job done when it comes to selling their business!
My brother and sister and I had been in the convenience store business for over 35 years. The business was started by my Mom and Dad and passed on to us. Even though we always enjoyed the convenience store business and it was good to our families we decided that after so many years in the business it was time to sell our stores and move onto other ventures.
We were not sure how to sell our convenience stores, but we knew we wanted to sell them so at first we decided to sell them ourselves, which turned out to be a big mistake. They say ignorance is bliss and boy did we prove that. Trying to sell our stores turned out to be a complete ordeal with ultimately after many months of broken promises and time wasted the buyer and us parted ways.
It was then that I found Terry’s book “The Art of Buying and Selling of A Convenience Store” on the internet and ordered the book. In the book he had laid out everything that is suppose to happen in order to sell your convenience stores. Knowing we had not had a good experience in trying to sell our stores I decided to reach out to Terry and see if he could help us in the process of selling our stores.
After contacting Terry he met with my sister and brother and I and explained how the process of selling ones stores works and how long it would take and how much we could expect to receive for the stores.
I am happy to say that Terry delivered on everything he said he would do and ultimately was able to sell our stores for the price he said we would receive.
I highly recommend Terry if you are interested in someone who will do what they say they will do and will get the job done. He did us a great job and I am sure he will do the same for other families like ours who are ready to step away from the convenience stores business.
After 32 years as a third generation professional in the convenience store industry, I can very clearly say I have never seen the pace of change as I see it today. New fuels, new technologies, new products, new regulations and new, sophisticated competitors who seem to have an unending stream of capital can make your head swim. It did mine.
As former Chairman of the Wisconsin Petroleum Marketers Association (WPMCA), former Chairman of the National Advisory Group (NAG) and as current President of O’Connor Petroleum Co. Inc., I am well versed, seasoned and in tune with the state of our industry. It has been and remains my life.
For those sitting on the sidelines contemplating further acquisitions or perhaps an exit, it is time to take a solid look at your business. There is currently a “pocket of opportunity” that won’t last forever. The time is now. Don’t wait.
If you need honest, solid and valuable advise from a trusted industry veteran I suggest, as I did, that you speak with Terry Monroe. Terry will sit with you to clearly understand your business and your desires. After he has done so he will give you honest feedback and advice as to how you might best accomplish your goals. Terry is a straight shooter who gets the job done. He makes a complicated transaction easy. Having sold my business with Terry’s help I am now able to look back on my business and without seller’s remorse say “well done”. Thank you, Terry!
I just wanted to drop you a note thanking you again for your excellent counsel and expertise in brokering the sale of my convenience stores. From the beginning of the process, you advised me as to what the process would be like; from negotiating a fair and equitable selling price, then plotting a course to get through the “due diligence” phase as efficiently as possible, to reassuring me like a big brother when we hit snags along the way, right down to the day the transaction closed. You were there; both as consultant and mentor, to make what can be a very cumbersome process, a doable one, even while having to deal with the day-to-day obligations of running my company. I used your book “Selling with Certainty”, which I read prior to the taking the plunge, as a roadmap on how to sell my stores and live to talk about it! Your book proved invaluable to me as a motivator to get off the dime and get this thing done. Eventually we store owners will have to divest of our assets, and your book put me in the right frame of mind to get at it and get it done, for my family’s sake, and for my own well-being, heading into what should be unencumbered and enjoyable retirement years.
So, thanks again for all you’ve done to help me accomplish the most important financial goal of my life…the sale of my business and financial security for my family. As I mentioned to you earlier, with the weight of running my business now lifted from my shoulders, I feel like a kid on the last day of school, free to do whatever I want to do for as long as I want!
Best of luck to you in brokering future acquisitions, and in helping other business owners realize their dreams!
After owning and operating Riiser Energy for 20 years I had made the strategic decision that the time was right for me to sell Riiser Energy, which consisted of 34 convenience stores, transportation and trucking, home heating, commercial wholesale business, and dealer wholesale business. Once that decision had been reached I consulted with industry friends who had previously sold their businesses regarding brokers who understood the industry and who had the ability to sell my business in its entirety as I did not want to retain any of the operating segments. Those discussions led me to contact and ultimately sign with Terry Monroe of American Business Brokers and Advisors. Terry’s industry knowledge and contacts were instrumental in the sale process which met all of my criteria. Thus, I highly recommend Terry and his partner, Bill Fecht to other individuals in the convenience store industry who have expressed an interest in selling their business.
Frawley Oil Company is a third-generation petroleum marketer. The decision to exit the retail portion of our business was with mixed emotions, but for many reasons the time was right. We called upon the expertise of Terry Monroe and Bill Fecht to market our stores. I have known Terry and Bill for many years. I consider them the leaders in their industry. They know the pulse of the market and they know how to get to the players in this industry. They were instrumental in confirming valuations, negotiating with perspective buyers, dealing with legal councils, and most importantly, closing the sale on time. I would recommend their services to anyone considering a sale or a purchase, whether one store or multiple locations. They were discreet, professional, and I truly believe they had my best interest in mind.
This past year I had the pleasure of working with Terry Monroe on a large business sale involving a chain of convenience stores in multiple states. His vast experience in these types of transactions, along with his understanding of the emotions involved, allow him to come up with creative solutions to transaction hurdles. He conducts his business honestly and openly, and is a real joy to work with. If you’re thinking of buying or selling a large business, I highly recommend you call Terry.
Francois Oil is a third-generation business and part of our business consisted of a chain of convenience stores. When the decision was made to exit the convenience store business we wanted to make sure that the selling of the stores would be done in a professional manner with someone who was knowledgeable about the convenience store business. Terry Monroe and Bill Fecht were the ones who we had spoken to in the past and together they were able to accomplish our goal of exiting the convenience store business and receiving the highest value for our stores.
We feel that, because of Terry and his expertise in the selling of convenience stores and his guidance in the selling process we were able to get the highest value for our stores and able to complete the sale of our stores in a timely manner. And would recommend Terry and his company American Business Brokers and Advisors to anyone who is considering the selling of their convenience stores.
Our convenience stores had been in our family for 2 generations. When we decided to exit the convenience store business, we were directed to Terry Monroe and his company American Business Brokers. Terry was very hands on. He guided us through the process of valuing our business, working with the buyer and ultimately the selling of the stores. He understands the convenience store industry. I would recommend Terry to anyone who may be interested in learning the value of their business with thoughts of possibly selling their convenience stores at some time.
Terry and his company American Business Brokers were able to accomplish something that I thought to be impossible and that was to sell my chain of convenience stores and help me get the market price I wanted for my stores. Terry worked with my wife and I in the valuing of our stores, the marketing of the stores, the negotiation and ultimately the sale of our stores.
We would highly recommend Terry and his company if someone was interested in wanting to know the value of their convenience stores and ultimately in the selling of their stores.
My wife and I were referred to Terry and American Business Brokers by a very successful and long time friend in the convenience store business. We had owned our 4 stores for over 30 years and did not know what the process was for selling a convenience store or how one goes about selling their business. With Terry’s coaching and past business experience we were able to have the stores prepared and marketed in the correct way that ended in a successful sale of all the stores. We really appreciated Terry’s help and would recommend him to anyone thinking of selling their convenience stores.
Transactions completed under the guidance of Terry Monroe:
Terry Monroe has the decades of personal experience to guide you through the valuation and sale of your business. Having worked with business owners to facilitate hundreds of sale transactions, he is keenly aware of the nuances in valuing and selling businesses. And, he has walked in your shoes as an owner and operator of 40+ businesses himself.
As an advisor, Terry believes in creating the least disruptive environment for the seller as possible. His goal as an advisor is to ensure you are on the right track to prepare your business for sale when you decide the time is right, while always remembering that ultimately, you are in control. It is your business and only you will know when you are ready to sell. There are many times that Terry has worked with a business owner and advised them not to sell their business because the time was not right or the business was not ready. That is what an advisor will do: give the business owner advice on the reality of the business and situation.
If you are looking for a shorter-term engagement, Terry offers consulting services for current or prospective clients without a long-term engagement. When consulting with business owners, Terry is able to leverage his experience to help problem-solve or tackle specific issues. When working as a consultant, he will sit down with you, see the business you have built, develop a plan from valuation to sale, and walk with you each step of the way – through the financial, legal, and emotional aspects of selling your business – guiding you and making sure you get the highest possible value for your business.
Here is a hidden secret about Terry a lot of people don’t know about: In addition to helping clients sell their businesses, Terry will also occasionally be called on to represent buyers in finding and acquiring businesses. With his vast experience in working with sellers, he knows the kind of questions to ask in order to get the answers that will help the buyer acquire the business for the best price.
If it seems the seller is unprepared to sell, Terry has the unique ability to disclose things that a buyer needs to know which will either save the buyer considerable amounts of money or make the buyer walk away. In other words, the same principles from Hidden Wealth: The Secret to Getting Top Dollar for Your Business are used, but in reverse when Terry is representing a buyer, because the goal is to get the business at a reduced price instead of the buyer paying top dollar.
It really is not a fair fight when using Terry to help acquire a business. It is like having a golf pro as your partner in a foursome and the other side are just two regular guys.
But, life isn’t fair. The spoils go to the one who was the most prepared and knows what they are trying to accomplish instead of going into the game by the seat of their pants.
Terry has the experience to guide you through all aspects of the sale of one’s business, from the time the initial thought comes into one’s head to the planning and preparing of the business itself to the sale of the business and each step in between. His role in over 800 sale transactions and working with over 1,000 buyers and sellers has him able to advice and consult on the following in regards to business transactions: