In our first video interview, James describes what it was like selling a business for the first time with AcquisitionStation.com.
“I plan on using the service again. What other testimony could a person have? Would you do it again? The answer is yes, and I will be doing it again, and I’m recommending to some of my best friends. What else is there?”
Ryan: My name is Ryan Sorensen, I’m with Acquisition Station. We’ve got James here. He is a happy client of mine on the sell side. We just got done with our first transaction together, and things have gone pretty smoothly. I actually just want to ask him a couple questions as part of our exit seller questionnaire, and see how he feels about the process. How’s it going James?
James: Hey. It’s good here on this end.
Ryan: Sweet. The first thing is, we’re going to ask, how did you find us? How was the journey leading up to working with AcquisitionStation?
James: A few months back, I had an opportunity to look around on the web and find people who had the expertise to sell online businesses. Myself, I’m a marketer for over 15 years or so, around 16 now. I knew that online business were different than say a brick and mortar business or you know a wash-mat or something.
Ryan: Very different.
James: They’re very different types of business, and our business needed someone to sell it that had the ability to sell online businesses and to find clients that were specifically looking at online businesses including international clients because online businesses don’t have a location, therefore it widens up the ability to find more buyers for that business to an international scope.
When we first found Acquisition Station, there was only a couple of competitors in the marketplace for online businesses, and Ryan at Acquisition Station worked really, really well.
Ryan: Thank you. I appreciate that. Just starting off, I’m sure that you had some reservations just because you’d never been through the process with a broker before. What are some of the things that impressed you about the process?
James: This was my first business sale. I’d been working in building these businesses for many years, but this is the first one I actually sold. What was impressive about the process, really, it came down to just a very smooth going process. In other words, the people, the guys at Acquisition Station knew so much about the sales process that they could always tell me what was coming next, what to expect next in the process. Ultimately, that smoothed it out. You know, when you’re a new buyer or seller, you have this emotional roller coaster you’re going through, right. If you’re a seller, you want to get as much for your property, and if you’re a buyer, you want to get the property at the best value, and to make it all smooth. It’s an emotional roller coaster. The guys at Acquisition Station, including Ryan, have this ability to just predict what’s going to happen next because it’s a smooth process, and then to smooth out the roller coaster to nice level ground.
Ryan: I think that’s one of the best things about the process is being able to just level out those emotions for the clients. It can get pretty crazy sometimes, and we’re just glad to help. That goes to the next thing, what are some of the things that you feel like could have gone better because nobody’s perfect, and any suggestions that you have?
James: Suggestions or improvements, there’s so many different things that could happen during a sales process. Basically being prepared for those things. You didn’t really have any issues, really. It’s all about finding leads that could buy the property, the web property, and having the guys at Acquisition Station generally close those needs, we only need one buyer. You only need one buyer. There were no major issues or improvements that could be really done. We got our one buyer, that’s all we needed.
Ryan: That’s true. I mean, overall, it took a little bit longer to find the buyer than we had hoped, but in the end, as long as it closes, and everybody’s happy, I think it’s a win, win, win for everybody.
James: Exactly. Yeah.
Ryan: That’s awesome. Talking about the buyer, do you feel like they are actually a good match for your business, and do you feel like they’re going to be successful?
James: When you’re finding buyers, there’s a whole bunch of people that could do it, but only the best qualified, the one’s that can do it really come through to the end. That really wasn’t a problem for me. Our business did not need a specialized … It wasn’t a dental office. It didn’t need a dentist to buy it. Anybody that could do internet business could do it. That really wasn’t a concern for us. So the buyer was the right buyer.
Ryan: Right. All right. That sounds good, and like you said, there are some business that just do take a specific amount of expertise or knowledge in the industry to really grasp it. This one was one of those that I feel like they’re going to be able to apply some marketing techniques, some of the stuff that we had talked about, suggestions we gave them, and be able to really grow it, and it’s going to help that you’re going to be there to help support them for a little while after the sale. I’m sure that they very much appreciate that. In the end I feel like it’ll be a very good success for them.
If it comes down to it, from your experience, would you say you’re comfortable with recommending Acquisition Station to other people, buyers and/or sellers?
James: Yeah. I plan on recommending them. I’ve got actually … I work out with a buddy who’s got businesses that he’s looking to sell. I could tell him, “I’ll be the guinea pig. I’ll be the guinea pig. I’ll go through this process first. I’ll tell you how it works out”, and then he can come in and sell his businesses. He’s got 2 more. For myself, I also have a few more, and I also plan on re-listing those with Acquisition Station when the time comes and it’s appropriate. I plan on using the service again, and that’s … What other testimony could a person have? Would you do it again? The answer is yes, and I will be doing it again, and I’m recommending to some of my best friends. What else is there?
Ryan: I think that’s pretty much the best you could do. We really appreciate that, and in the end, it was a great experience I think for everybody. Thank you, again, James. One last thing, is there anything else that you’d want to add to this video testimonial because when it comes down to it, this will go out to people who have never done time before. This might go to somebody who works with another broker and is looking to switch, and anything in that regard.
James: If you’ve already looking to switch or already put your business up for sale or something like that, I can say that it was a smooth process. The broker’s commission was good. It wasn’t over exorbitant. I’ve seen other brokers who they were over exorbitant. I’ve seen all sorts of … I’ve heard horror stories. None of those horror stories came true. You have heard horror stories too. Lots of horror stories probably selling businesses. I was just so happy that none of those things happened. It was all just very smooth, very normalized, and the business sold smoothly. What else can I say? It was a beautiful process, and it took the amount of time that we had planned about it taking, and the buyer was the right buyer, and we’re all very happy. That’s about it. It’s a beautiful thing.
Ryan: Awesome. Thanks again, James. We’ll be seeing some more of you in the future, and we’ll at this point now take care of the business with your buyer, keep them happy, and everything will work out. Thanks again, James.
James: Sounds good. Thanks Ryan.
Ryan: Have a good one.