Viking President Jay Offerdahl had a chance to sit down with Marvin L. Storm from the Business Exit Stories team to discuss to share some seller stories and how different business owners managed their exit strategy and transaction process during the pandemic. Here about several stories including:
An entrepreneur in a service sector identified a need where the sales, operations, and finance departments of his clients always seemed to be relatively inefficient. He conceptualized a customized solution that could revolutionize the service and hospitality industry. Little did he realize how perfectly his company would be positioned when COVID hit.
A young husband and wife team launched a business in the asbestos abatement industry, and again they benefited from have a business that was COVID resistant. Yet, they made crucial mistake.
A business owner that thought his landlord, and close personal friend, would renew his lease like he had multiple times over a 25-year period. Only to find out that money makes people, even close friends, do the unexpected.
A business that ran a tight ship and was organized which is unusual in the construction industry, because contractors are notorious for less than perfect operational, HR, and financial record keeping. When it came time to sell, right in the middle of Covid, the deal went smoothly when many other deals were struggling to get done.
Listen to the entire podcast here.