A Broker’s Perspective on Selling TrollingMotors.net

The sale of a business can be a fickle mistress. Thomas Smale of FE International is a business broker who knows this all too well. He specializes in selling high ticket online property stores, as well as other properties. Thomas offered some extremely valuable advice to me during the process of selling TrollingMotors.net.

On this week’s episode, we’ll dive in to the first of a two-part series to wrap up the TrollingMotors.net auction case study. I’ve invited Thomas on to the show to share some of that insight and advice with you.

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Here’s What You’ll Learn

  • How I qualified the prospective buyers after they made a bid.
  • Why there is such a lack of transparency in traditional acquisition processes.
  • From a broker’s perspective, how to make sure every part of the deal is safe for both parties.
  • The importance of trust and building that kind of a relationship during the acquisition process.
  • Why it’s not always about getting the highest price possible.

What Was Mentioned

This Week’s Contest – Win Some Stylish Accessories from VoltaJewelry.com

This week we’re going to be giving away your choice of a pair of cuff links or a necklace from VoltaJewelry, who create awesome custom accessories made out of watch and timepiece components.  To enter the contest, all you have to do is give us a review on iTunes. Just make sure you leave some communication info so we have a means to contact you. We’ll pick one lucky winner and we’ll send them their free accessories!

Want to Be Featured on the Show?

Reach out to us with your questions or feedback for the show, and submit any first sale announcements or other progress achievements!

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6 Comments

  1. Thanks for having me on, Andrew, hope it was useful to some of your listeners. If anyone has any questions, would be more than happy to help in the comments or via email if it’s a more private question.

    1. Hi Thomas,

      Very interested in what you do and learning if you can help me purchase an eCommerce business as well.

      Let me know what the best way to get in contact with you is, thanks!

  2. Thanks for doing this follow up Andrew. I’ve been following the sale from the beginning and I’m quite impressed by the process which took some ingenuity on your part – something that I think is important to have as an entrepreneur. I particularly found the section on protecting both parties to be enlightening because I have an irrational fear of scams, ok maybe it’s not that irrational, but it’s something that I think about a lot. I’ve always thought I’d sell my online business on my own (if I ever do) to save on fees and also because I just feel like it can’t be that hard, but now since places like Flippa where buyers normally hang out charges more, it makes sense to go with a broker who knows what they’re doing and still may charge the same as Flippa or just a little bit more. I don’t think I have the resources available to do the sale like you did Andrew, but like I said, I think it’s awesome you were able to pull it off and help educate people along the way. Thanks again

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