At age 14, Devak Patel began working for his father. Their family owned multiple Dairy Queen franchises, and Devak recalls the high expectations that came with working with his dad. While challenging, it also afforded him the opportunity to learn, not just from an employee perspective but also from his dad’s experience as the business owner. Devak developed an interest in business & finance, and his role in the family DQ businesses shifted to the finance & business side. Then, when he entered college at NC State University, he shifted into a more regional role focused on business development.
Since Devak wasn’t involved in the day-to-day of the family business during college, he decided to try a corporate job during that time. He worked as an analyst at PNC Bank in the finance and accounting department, and he found the corporate experience to be very different from what he’d previously had. “I felt like more of a cog in the system. There was no personal touch. I realized Corporate America isn’t the right place for me.”
Soon, Devak’s family began selling their DQ stores, and he got to see the business selling process firsthand. “I saw how difficult the process was for my parents. Today, I can relate to the business owner asking, ‘Why is it this way?’ There’s a learning curve when you sell a business… You’re selling what you’ve poured your life into.”
Devak found himself drawn to M&A and finance because of the opportunity to help other business owners like his family. He’s passionate about helping both sides benefit and helping people understand the process. “I don’t see buying or selling a business as just transactional. It is personal.”
Driven by this interest and passion, Devak reached out to Dan Wilson via the Viking M&A website to inquire about joining the Raleigh team. He has been a valuable addition to Viking M&A; and with his unique experience and background, he has proven well-equipped to provide support for entrepreneurs and business professionals.
Why Viking Is Here
Selling a business can be the biggest decision in a person’s life. Like all of our advisors across the Southeast, the Viking business advisors in Raleigh, NC, are experienced professionals who are here for the long term. We have no interest in rushing our clients through a sale or purchase. Devak sums it up well when he says, “We’re not here to sell you on selling your business; we’re here to educate and help. Viking advisors are not just transactional. I encourage owners to get a business valuation and see if you’re where you want to be. If you’re not, we can provide guidance on how to get there.”
Viking also has a network of thousands of potential buyers including individual buyers, private equity groups, and strategic buyers. Access to this kind of existing buyer pool can prove advantageous to any business owner, and our advisors also serve as the buffer to protect your confidentiality and vet all prospects for serious, financially capable inquiries only.
Because we know it often takes different perspectives and ideas to ensure the best result for a client, Devak has a top-notch team behind him. Each of our Raleigh-Durham area clients has a dedicated business advisor in Raleigh, along with a team of analysts and marketing professionals providing support through the entire selling process.
Advice If You Are Thinking Of Selling A Business
Devak reminds business owners that no one can predict exactly when an opportunity or need will arise; so, talk to an advisor about your eventual exit and make sure you have the information you need. That way, when you’re ready to exit, you can. Like all of Viking’s divisions, our business advisors in Raleigh, NC, engage with potential clients early on in the sales process and remain engaged until the timing is right for the client.
Advice If You Are Thinking Of Buying A Business
If you are thinking of buying a business in Raleigh, NC, Devak encourages purchasers to consider industries they may already have experience in; or, if someone already owns a business, remember to consider add-on opportunities. Our business advisors in Raleigh can help ensure that you obtain the appropriate amount of information about a company you’re considering. Viking actually pre-qualifies businesses through SBA lenders, so the buyers we work with can have confidence in their purchase.
If you are considering business advisors in Raleigh, NC, contact Viking today for a confidential consultation or business valuation at no cost, no strings attached.