This week on Built to Sell Radio, Ben Landers shares how he built Blue Corona, an eight-figure digital marketing agency focused on home service businesses and negotiated an extraordinarily clean exit with no earn-out—a rare feat in the service business world.
Ben’s journey is packed with actionable insights for business owners preparing to sell:
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Avoid earn-outs: Learn how Ben structured his deal to achieve a clean exit, avoiding the common pitfalls of earn-outs in service businesses.
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Stand firm on value: Ben shares how he handled lowball offers, particularly from search funds, and ensured his business commanded the right price.
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Master partnerships: Navigating a silent partner with nearly half the equity, Ben balanced mentorship and ownership to position Blue Corona for success.
If you’re planning your exit—or just curious how top entrepreneurs achieve extraordinary deals—this episode is a must-listen.
Quote of the Week
I told the acquirer up front, ‘No earn-out. The number has to make sense for me to walk away.’ That’s the only way I was willing to sell.
The Trophy
After selling Blue Corona, Ben celebrated his success in style by treating himself to his dream car—a sleek Porsche 911 convertible.
Deals
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Simple Mills, a company specializing in better-for-you snacks, is being acquired by Flowers Foods, Inc. (NYSE: FLO) for $795 million in cash. The acquisition expands Flowers’ presence in the growing healthy snacking segment. Simple Mills is estimated to generate $240 million in net sales for 2024, with the acquisition price reflecting a revenue multiple of approximately 3.31 times.