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February 16, 2018 |
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Scott Miller knew that telling his employees he wanted to sell his $3M company, Miller Restoration, could get messy. But he wasn’t prepared for what actually happened.
Scott Miller grew Miller Restoration to a $3M business specializing in cleaning up the mess caused by floods and fires. When a new business idea caught his attention, Miller decided to sell his business. After two false starts, he ended up successfully selling for 3.5 times pre-tax profit.
Miller knew telling his employees would be hard, but nothing could prepare him for what happened next.
In this episode, you’ll learn:
Miller navigated offers from potential acquirers more easily because he knew what his target sale price was. Module 12 of The Value Builder System™ walks you through The Envelope Test, which is designed to help you determine your dream check. Get started for free right now by completing Module 1.
Scott Miller is the owner of two businesses in the western suburbs of Philadelphia: True Blue Auto Glass, a mobile auto glass repair and replacement company, and The Growth League, a business coaching practice that specializes in the growth and support of franchisees and other small businesses. Miller Restoration, a company started by Miller in 2005, was recently sold to an organization in the property damage industry with a growth-through-acquisition model. Prior to starting his property damage restoration business, Miller ran a successful, franchised printing business for just over ten years. He has also held positions in marketing, sales, and management in the advertising and commercial food sales industries.
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One Bold Move That Can Make Your Company More Valuable
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The company grew nicely. By 2016, it had around $9 million in revenue and a client list that featured some of the U.K.’s best companies. Hyder-Smith and Denner decided it was time to go beyond their borders and enter the U.S. and Asian markets. To fund the effort, they raised $7.2 million from the Business Growth Fund (BGF), one of the U.K.’s largest private equity groups. BGF’s investment valued Adestra at around $35 million — a little shy of four times revenue.
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Built to Sell Intel - July 2021
On this month’s episode of Built to Sell Intel, John will be sharing key insights from the latest group of entrepreneurs interviewed on Built to Sell Radio.
John recaps his favorite anecdotes in this monthly live broadcast, highlighting helpful strategies and transferable lessons.
Double an Offer, Without Turning off an Acquirer
Wes Mathews built High Level Marketing, a digital advertising agency, to $6.5 million in annual revenue. The business was thriving, but when COVID hit, Mathews started to question the risk he was shouldering employing 49 people. It was around that time that Mathews received an email that would change his life forever.
