Recent content by Jerseytunahunter

Oops I meant 8 figures sorry!

No "number" for us. Always maxed 401k, bought investment properties, wife has a pension and we're set for healthcare (teacher). I sold my company last year for 10 figures. We could easily retire today. I guess we've realized we like our jobs and continue to work. Maybe when we hit the...

Time to take me off the list! Sold my company, we closed Monday. I agreed to a very lucrative three year earn out. I'll probably state for two of those years but not Firing anytime soon.

Well, here we are it's Christmas Eve. We close 12:01AM November 1st. I couldn't even put into words how difficult the quality of earnings and due diligence were. We signed the LOI Sept 7, so to get all of the work done in seven weeks made it I think 2x harder. Anyway very little to do...

Sold my company. Well, we close 12:01AM Nov 1st. It's been a Hell of a ride, started the business in 1983 when I was 20. When I began to think about FIRE I was very apprehensive about staying busy and having some place to be. Asked a lot of friends who retired early what are you doing today...

Jersey Shore

Totally agree with OP. Spent a lifetime investing in 401k, IRA, bought investment properties, built my business. We raised our kids to be good people and hard workers. If you asked them "would you like to win a million dollars or earn a million dollars" 10 times out of 10 they would say earn...

Awesome information thank you for taking the time to post. My broker is a master negotiator and has done deals with this buyer in the past. This is both good and bad as they know they'll see each other again down the road. There is a fair amount of trust and integrity between them but my guy...

Yes all cash. We have a small amount of loans and leases which will be paid off at closing. We're trying to get to 90/10.

No

Corn18 this is gold please keep going I'm taking notes.

Thx for the responses very helpful information. They offered 80% cash at close, 20% in the EO. The earn out is based on a 15% increase in EBITDA yoy, which I think I could do. It will have a sliding scale for over performance and under performance. We're negotiating the terms now. I...

Update II: The broker and his team have done an amazing job organizing our information and planning the transaction. They identified 43 possible buyers in my space and created a "top 5" list based on fit and their history of closing deals at a good price. After reaching out to each to assess...

Agreed! (like me)

Update: signed the exit agreement with the broker and started the process of creating the pitch deck. A lot of work ahead but excited to be executing my plan. My intention from Day 1 was to build a salable business. It's been a hell of a ride since that day in 1983 but I've enjoyed minute of it!