Full-Service Business Specializing in Screen and Digital Printing and Embroidery

Location

Somerville, MA

Business Broker

John Brice

Situation

The business owner successfully ran this full-service business in Somerville, MA specializing in screen printing, digital printing and embroidery with a long standing marquis client list. He was referred to BayState Business Brokers and was introduced to business broker, John Brice, who would take the business to market so that he could slow down and start thinking about retirement.

BayState Business Brokers’ Approach

The digital printing and screen-printing market had largely become commoditized in recent years with online providers leveraging technology to undercut local providers’ pricing and churn out product. However, this business was uniquely positioned, providing personal customer service, local convenience and fulfilling small batch custom orders that the on-line businesses did not offer. This market positioning had served the business well and was an important differentiator in taking the business to market.

Together, Business Broker John Brice and the owner prepared a comprehensive Confidential Business Review (CBR) to summarize the market opportunity in this hot industry sector.

Results

There was tremendous interest in the business with multiple letters of intent (LOI) submitted within the first month of the business being marketed. With the owner, Brice reviewed and evaluated each offer, identifying the strongest offers and prospective buyers. The top prospective buyers were a husband-and-wife team with businesses in the same market sector in the Greater Boston area.

The business was especially appealing to these buyers as they wanted to expand their services to include embroidery and screen printing and expected to attain efficiencies leveraging the processes and systems from their current businesses.

A quick timeframe was desired by the seller, Peter, and business broker Brice met this goal by quarterbacking the process to close within 90 days from offer to closing with a full cash offer. After decades of running a business daily, Peter attained the return on his years of hard work including an off ramp that John Brice negotiated into the deal for him to have compensation and a role for six-months post close.

At BayState Business Brokers, we are fueled by our clients’ goals and, in this case, Peter’s goals motivated John Brice every step of the way to successfully market this business, attract two highly qualified buyers and close before year-end.

The seller has in place a period to assist him in transitioning towards retirement over the coming months and was so pleased with BayState Business Brokers and John Brice that he has already made multiple referrals and introductions for other business owners to retain their services.