Selling a Print Business: Kelvin Gage on Negotiations, Emotions, and Lessons Learned
In this episode of Printing's Alive, Warren Werbitt and Kelvin Gage discuss their journeys in the printing industry, focusing on Kelvin's path from starting his business to selling it to Australia's largest print company. They delve into the complexities of deciding to sell, involving external help, and negotiating while maintaining leverage and secrecy. The conversation addresses emotional and family considerations, financial discipline, and business readiness. Kelvin shares insights on creating win-win acquisition deals, managing staff reactions, and the emotional aftermath of selling. They also explore challenges working for the acquiring company, offering advice for potential sellers, and balancing outsourcing with new equipment investments.
Key Points
- Understanding the importance of running a clean, well-organized business can significantly affect the valuation and attractiveness of your company to potential buyers.
- Being prepared for a sale at any time by having detailed, up-to-date financials and customer data can expedite the negotiation process and ensure you get the best possible deal.
- When considering an earn-out arrangement, it's crucial to evaluate whether the acquiring company can maintain or improve the level of service you provided, as this can significantly impact your final payout.
Chapters
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Transcript
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