October Newsletter Transitions In Business

October 2023

Transitions Trends

Why Do You Still Own Your Business?

I recently met with a business owner who was telling me how he took his entire team of 15 people to attend his retirement party in the Bahamas. The trip was five years ago, and he still owns and operates his business. Turns out, when the owner returned from the retirement trip a good customer persuaded him to help out one last time. One last time turned into back to work full time, for good.

Events

Dealmakers Conference

We are delighted to announce that Transitions In Business proudly supports the upcoming Dealmakers Conference, set to take place on Thursday, November 2, 2023, at the Interlachen Country Club in Edina. Join us for a dynamic day of knowledge-sharing and networking, alongside prominent CEOs, visionary investors, and seasoned advisors who are at the forefront of driving our regional economy.

The Smart Business Dealmakers Conference is your gateway to connecting with a diverse array of local dealmakers. From middle-market CEOs to top-tier investors and lenders, to leading M&A experts, this event unites professionals across the spectrum.

Explore a wide range of insightful sessions, covering everything from raising capital to mergers and acquisitions, and even delve into the world of alternative asset investing. This conference is designed to provide a comprehensive view of the ever-evolving M&A landscape.

For more information or to register

M&A Panel Discussion

On September 13, Transitions in Business held an M&A Panel Discussion at The DoubleTree Park Place hotel in St. Louis Park. We were delighted with a great turnout of 70+ attendees, with lively audience participation on The Art of Selling & Buying a Business. Transitions in Business President Sam Thompson moderated the discussion, and Lauren Altschuler, M&A Advisor served as a panelist. We are grateful for our distinguished guest panelists: TJ Bonnett (Business Buyer), Tom Sedlack (Business Seller), Melissa Johnston (EntreBank), Jake Parsley (SMB Law Group) and Kelly Pedersen (Caissa Wealth Strategies). A common theme discussed was the importance of communication, preparation, and the emotional highs and lows of buying and selling a business.

Our colleague Lauren Altschuler provided 3 Top Steps for an exit plan: Psychological Preparedness, Business Preparedness, and Financial Preparedness. Lauren also spoke on the Top Reasons Businesses Don’t Sell: Lack of Preparedness, Sellers’ Unrealistic Expectations of the Business Value, Economic Issues (ie Pandemic), and Customer Concentration. Please reach out to us if you have questions. We would love to assist.

Edina Car Show

Transitions In Business took great pride in sponsoring the Fifth Annual Edina Car Show, held on September 16th at the 50th and France district. The event offered a splendid opportunity to appreciate vintage, classic, and exotic collector cars, surrounded by fellow car enthusiasts on a delightful day.

M&A Statistics

Know Your Buyer

Data taken from the Q2 2023 Market Pulse Report published by the International Business Brokers Association (IBBA) and M&A Source.

Transitions In Business

6550 York Avenue South, Suite 205

Edina, MN 55435

952-405-8470

sthompson@transitionsib.com

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