Top Four Reasons Sellers Choose Say Yes! Enterprises
Written by Marissa B. on October 12th, 2020
Want to sell your business? Overwhelmed by annoying brokers, pointless listing sites and unfair offers?
Welcome to Say Yes! Enterprises.
Say Yes! Enterprises was founded by Christopher Wick, a Texas-based serial entrepreneur. He has years of experience acquiring, building, and selling successful businesses. After helping 400+ businesses in his international award-winning marketing agency, Wick began a full-time career in merger and acquisitions.
Say Yes! Enterprises (SYE) was formed with the seller in mind. Wick has experienced both sides of business acquisitions as both the buyer and the seller. He understands the unique needs of business owners who want to sell their business and the lack of credible resources available for them.
The first SYE acquisition was the purchase of a popular eCommerce store. Due to the depth of understanding of the seller’s desires, detailed education around the business’ value and the strategic conversations around the future of the business, Wick’s first official offer was accepted. On an early morning, this message was received from the seller:
Hey, Christopher! I received your offer, and I want to let you know that I actually received a higher offer today. However, I think you’re the best person for the business. I’m going to accept your offer.
The seller accepted the offer and the business was officially sold in less than 7 days.
Why did the business owner accept a slightly smaller offer?
Wick explains, “He did not accept my offer because it was the most money. He took my offer because of the education I gave him around his company’s value, the future of his business, and the level of investment I was making into the relationship with him. While the offer was absolutely in the zone of fairness, most sellers aren’t just seeking the most money: they're seeking the most certainty and trust of who they’ll be working with.”
Here are the top four reasons sellers choose Say Yes! Enterprises:
#1 - Fair Valuations
SYE works to create a win-win situation for all parties involved. Every business requires a large investment of time, money, and effort. Business owners deserve fair valuations based on concrete numbers, industry data and business performance.
Business valuations are based on EBITDA, SDE or profit valuations at industry-specific multiples. While every business is unique, there are categories and industry standards within each one.
If too low of an offer is given, a buyer risks offending the business seller, damaging the relationship and losing the deal. One of the most important factors within an acquisition is a fair offer that provides a positive outcome for both the buyer and seller.
In addition to the traditional valuations of companies, Wick also is unique as an investor in recognizing intangible assets.
Some assets simply do not show up within a profit and loss statement, and Wick has a keen eye for recognizing these intangible valuables. For example, a large customer list and social media following that would be valuable for marketing efforts increased the valuation of his first eCommerce acquisition.
#2 - Quick Closings
#3 - Flexibility
SYE is a company that works with both buyers and sellers. Sometimes, the business seller has specific needs or a specific timeline to meet. Special circumstances don’t mean that a deal isn’t possible.
In fact, as Wick explains, “Special circumstances are usually what’s prompted the sale of the business in the first place. Where I’m able to add more value than traditional business buyers is my depth of understanding of what it’s like to be on the other side of the table as a seller. Sellers have needs. If a buyer doesn’t address those needs, they’ll most certainly either lose the deal or have an unpleasant transaction.”
Deal financing happens on a case by case basis. Most sellers are unaware of the possibilities to finance the sale of their business. While rare deals consist of an upfront cash offer, most transactions are creative with down payments, seller financing, earn-in’s, earn-out’s, revenue sharing, or equity agreements. There are opportunities for sellers to benefit only once or as Wick recommends, to benefit on an ongoing basis.
#4 - Continuity
A Final Note on The Business Seller’s Success
“When all is said and done, the seller should have three key things from their business sale: a fair transaction value, a pleasant transition process and an accomplishment they can be proud of. 80% of businesses will not ever have the achievement of being sold, they are only left to fizzle out or close. Business sellers should be proud when they’re within the 20% that actually achieve a successful transaction.” - Christopher Wick
About Say Yes! Enterprises
Say Yes! Enterprises is an investment management company that acquires, builds, and sells companies that benefit shareholders, customers, team members and communities at large.
About Christopher Wick
Investor, 9X Award-Winning Entrepreneur, and 5X Best-Selling Author & Speaker
*Founder/Principal of businesses that have been featured by Huffington Post, ABC, NBC and Wall Street Select*
Christopher Wick is an award-winning entrepreneur who has built, bought and sold various companies relating to social media marketing, e-commerce, real estate, retail and investing.
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Say Yes! Enterprises is an investment management company that acquires, builds, and sells companies that benefit shareholders, customers, team members and communities at large.
Say Yes! Enterprises is an investment management company that acquires, builds, and sells companies that benefit shareholders, customers, team members and communities at large.