About this episode
When you get an acquisition offer, your eye will immediately go to the offer price. That’s only natural. But, there are two other negotiating points that could have just as large an impact on your windfall when selling your business.
Groot discovered the importance of all three when he went to sell JP’s Coffee Shop– a business that USA TODAY® voted one of “Top 10 Coffeehouses in America”.
In Jack Groot’s case, he sold his business to a supplier.
Your supply chain will include natural acquirers adjacent to your business. We’ll help you identify a short list of strategic acquirers during month 11 of The Value Builder System. It all starts with getting your Value Builder Score.
About Our Guest
Jack grew up in Grandville, lives in Hudsonville, and owned his business in Holland MI for over 20 years. Jack Groot’s entrepreneurial role model was his father, Jake Groot. The family business of homebuilding and developing and selling real estate started in the late 1940s, shortly after Jake emigrated from the Netherlands. Jack credits his father for being a great example of problem solving, thinking outside the box, and how to do customer service. In 1993, Jack founded JP’s Coffee in Holland, named a “Top 10 Coffeehouse in America” by USA TODAY® Travel Destinations. He also created an international coffeehouse and business training school, and was an industry consultant, industry magazine columnist and blogger. After Jack sold his business interests, he returned to his homegrown roots in customer service, buying and selling real estate, as well as consulting for others in business start-up and operations.