There are a lot of transactions going on right now as property management businesses are acquired by investment companies, consolidators, and other managers seeking to grow.  It may seem an attractive notion if your company has some good growth and you feel the time is right to get out and move on.

But wait…..it’s not an easy process, and as Sarah Bradford, former owner of Steamboat Lodging Company and Winterpark Lodging Company says:

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‘Selling your business is almost like learning another business’.

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In this episode, Sarah – who is also the co-host of the Sarah & T Podcast - shares her story of why she decided to sell and the ups and downs of the process.

There are some great nuggets for any manager who may be thinking about the future and an exit strategy.

Sarah talks about:

• Preparing for sale and what has to be in place before you go to market
• The five things you need to do to clean up your business before putting it up for sale
• Choosing the right broker
• Knowing your numbers inside and out
• How she chose her buyer and why some potential buyers got locked out
• How she was able to walk away on the closing date
• Creating a strong company culture for a smooth transition
• What needs to be in an owner contract and why you may need to look at yours carefully
• Why she’s not talking about what’s next

Links mentioned:

‍Raincatcher

‍C2G Advisors – Jacobie Olin

‍Related podcast episodes:

‍VRS377 - How to Create a Short-Term Rental Exit Strategy - with Jacobie Olin