One thing that becomes clear almost immediately is how welcoming and approachable Tod Fiscus is to those that meet him. He gives off this feeling of safety which is a big deal. Why? Well, as one of the principals at Transition360, a sell-side advisory firm for small business owners in the Pacific Northwest, Tod is the guide that helps people sell their babies. Okay, not like real babies but for many business owners, creating a business, caring for it, guiding it, and ultimately letting it go feels like raising a child. We learn from Tod the process of selling a business starts years before a transaction. Tod is an ally who helps owners get their business ready for sale, their financials in good shape, and gets all the skeletons out of the closet that could risk derailing a buyer’s interest. Then, when the business is ready for sale, Tod helps organize the financing for the buyer and drives the parties to an agreement. “Preparation is so key,” says Fiscus. “Buyers are blown away if they don’t have to spend six months doing due diligence and you can hand them all the documents they’re going to need without them spending much energy at all. We want the buyer to feel very confident when they are getting everything they need to make a good decision.”
Something Tod and his team have perfected is the use of SBA (Small Business Association) lending as a source of financing. Although an SBA acquisition loan is not for everyone, it provides the ability for the seller to receive 85-90% cash at closing while simultaneously allowing the buyer to only have to put down about 25% of the purchase price to make the deal. This episode will definitely get your wheels spinning if you have been thinking about buying a business or selling. Enjoy!
In this Freedom Speaker Series episode with Tod, you will learn:
- How sellers can best prepare their business for an acquisition
- The power of the SBA as a source of financing
- How good advisors play an important role well before a transaction
We are fortunate to have Tod available to spend time with us on this edition of Stride 2 Freedom. If there is a speaker you’d like us to interview, let us know. Stay well. Stay safe. Stay healthy.
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If you’re interested in being a featured guest on our Live Webinars or if there’s a subject matter expert you’d like us to interview, please let us know!
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Show Notes + Transcript:Â
Transition360 website
Tod Fiscus Linkedin
Tod Fiscus email
Webinar Transcript:Â
Guiding Business Owners to Maximize the Sale of their Business
