Some founders wait too long to sell. Others sell too soon. Get the timing right, and you can maximize your payday while minimizing risk.
This week on Built to Sell Radio, Kristie Shifflette shares how she scaled a capital-intensive business to 13 Orangetheory locations—bootstrapping, personally guaranteeing leases, and grinding through the day-to-day. But when she hit a key inflection point, she made a bold move: She sold.
You’ll discover how to:
Recognize the $10 million milestone—and why it matters to acquirers.
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Decide when to take some chips off the table (and when to double down).
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Spot the warning signs of an offer that will likely be re-traded.
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Play hard to get—even when you want to sell.
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Negotiate for more. Kristie got her acquirer to bump their offer by $1 million.
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Max out an earn-out payment—even if you don’t quite hit your targets.
Get this wrong, and you risk burning out, missing your peak valuation, or walking away with less than you deserve.
Kristie timed her exit right—and made every move count.
Quote of the Week
We didn’t even know what we were building until someone told us, ‘This is worth real money.’ That changed everything.
Deals
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A-Mark Precious Metals, Inc. (NASDAQ: AMRK) has acquired three businesses that specialize in selling collectible coins:
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Spectrum Group International (SGI), parent of Stack’s Bowers Galleries – A company that runs coin auctions and sells rare coins to collectors. It was acquired for $92 million and had $10.9 million in EBITDA, giving it an EBITDA multiple of 8.44 times.
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AMS Holding (AMS), operator of GOVMINT – A company that sells collectible coins directly to customers through a large team of sales representatives. It had $9.3 million in EBITDA, with an EBITDA multiple of 9.89 times.
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Pinehurst Coin Exchange (Pinehurst) – One of the largest coin sellers on eBay, specializing in both modern and collectible coins. It had $7.7 million in EBITDA, with an EBITDA multiple of 11.95 times.
These acquisitions allow A-Mark to grow its collectible coin business and expand its customer base.
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