“So you are thinking about selling your online business. Where do you start? Well, being an online business I searched the internet for brokers. I came across several very professional sites. Since this was a big deal for me, I contacted all of them and interviewed each company.
My experience was this:
1. One company wanted me to put $10,000 down and it was non-refundable whether he sold the business or not.
2. Another company told me that he could sell the business for as high a valuation as I thought the company was worth.
3. Another company told me that no matter who I sold the company to it would be on a full note.
4. Another company told me that my valuation was way too high.
5. Another company told me that they would put together an entire plan (no charge). They would source companies ahead of time and have them lined up prior to signing any contacts with them. I inquired about who they would be contacting, what type of buyer, investors, entrepreneurs, etc. They told me that they thought the best place to start was to contact my competitors first and go from there.
Clearly, when I got of the phone after speaking with each broker, I had red flags.
Then, Lenny Farber called me. He was the full package. He was everything that I imagined and more! He listened and he understood my business. He did not sugar coat anything. Instinctively I knew that this guy could sell my business and he would do it with honesty and integrity. He knew what it was going to take to sell my unique business. He wasn’t the broker with the lowest commission and he wasn’t the broker with the highest commission, he was the broker who listened. When I say he listened, I do not mean that I bossed him around and he did what I told him to do. It means that he understood my business. Since I had never sold an online business before I had questions about his process and how he would find a buyer for my business, etc. I had plenty of questions and he answered all of them, his plan made perfect sense to me. I decided to work with Lenny.
Immediately my expectations were met. He sent me the prospectus about my business and I didn’t even have any edits. Wow, he heard everything I told him about my unique business, everything! From that day on, we were off and running. Not only did he make me happy, but the buyers who eventually purchased my business also sang his praises to me. Although he worked for me, he still worked with the buyers.
No matter what came up, Lenny was there and handled everything. I remember texting him on a Friday night about 9:30 pm and he called me 1 minute later…I could go on and on. The business was put up for sale and sold 4 months later. If it wasn’t for Lenny, I seriously do not know where I would be right now. If you think that selling your house is a big deal, multiply that by 10. If you do not have Lenny by your side for this, all I can say is good luck because you are going to need it. I am a real person and would be more than happy to talk to anyone considering working with Lenny Farber. I am beyond a satisfied customer.”