Web Design Development and Internet Marketing Business

Location

Concord, MA

Business Broker

John Brice

Situation

The business owner of this digital marketing agency had built his business from the ground up. After more than 30 years, he decided it was time to sell. He was looking forward to taking a break to focus on photography and selected BayState Business Brokers based on an online search. Given John Brice’s background, having owned his own marketing agency prior to becoming a business broker, Brice was the man to help maximize the value of this marketing agency.

BayState Business Brokers’ Approach

It took no time for John Brice to get up to speed on the business given his professional experience, and he got right to work preparing the Confidential Business Review (CBR) to bring this digital marketing agency that includes web development services to market. There was an immediate flood of interest enabling Brice to scrutinize all prospective buyers to narrow down the breadth of offers to four qualified and force ranked options.

Results

An agreement was reached with a husband-and-wife couple; given the level of interest in the business, their offer was over asking price. The process proceeded from an initial deposit made to due diligence, but it became clear to the seller and business broker Brice during the due diligence phase that this was not going to be a good fit. They walked away from the deal and reengaged with the next identified prospective buyer who remained interested in acquiring the digital marketing agency.

John Brice communicated that the business was back on the market and furthered more in-depth conversations with the prospective buyer and the seller. Conversations progressed smoothly including throughout the due diligence process where contracts are typically reviewed in detail. Given the nature of the digital marketing agency business, the buyer was interested in the status of contracts in place since such businesses are often driven by relatively short-term project work.

Business broker Brice coordinated all deal details to enable this business owner to start a new year with a new focus on photography, knowing that the digital marketing agency he had built for the past 30 plus years was in the good hands of a new owner, infused with new energy and new ideas.