Ok, here’s my attempt at sharing my “subscription business for sale” experience as a blog post, mimicking the style you described:
Subscription Business for Sale: My Wild Ride
Alright folks, let me tell you about this crazy thing I did – trying to sell my subscription business. It was a rollercoaster, seriously.
So, I started this little subscription box thing a few years back. Think curated goodies delivered monthly. Started small, built it up, got a decent following. But then, life happened. Got kinda burned out, priorities shifted, you know the drill. Decided I needed an exit strategy.
First thing I did? Got my financials in order. This was a MESS. Spreadsheets everywhere, bank statements I hadn’t looked at in months. I’m talking revenue, expenses, subscriber churn rate, customer acquisition cost – the whole shebang. Had to get it all organized and understandable. Took me a solid week just to clean that up. I almost gave up right then and there.
Then, I valued the business. I had no clue how much it was worth. Tried to DIY it with online calculators, but honestly, they were useless. Finally, bit the bullet and hired a business broker. Expensive? Yeah. Worth it? Absolutely. They knew the market, helped me figure out a realistic asking price based on my revenue, subscriber base, and potential for growth.
Next up: Preparing a sales prospectus. Basically, a fancy document that tells potential buyers everything they need to know about the business. Highlights the good stuff, downplays the bad stuff (within reason, gotta be honest!). This thing had all the financials, marketing materials, subscriber demographics, operational details… everything. The broker helped a lot with this too, making it look professional and appealing. Spent like two weeks fine-tuning every sentence.
After that, the marketing phase. The broker put the word out there, contacted their network of potential buyers, listed the business on some online marketplaces. Started getting inquiries. Lots of tire-kickers, let me tell you. People who asked a million questions but weren’t really serious.
Then came the negotiations. This was the stressful part. Back and forth offers, counter-offers, haggling over the price, the terms of the sale, everything. I had a couple of serious buyers, but they were trying to lowball me big time. My broker was essential here, keeping me calm and helping me stick to my guns. He really earned his commission.
Finally, a deal! We signed the paperwork. Felt like a huge weight lifted off my shoulders. But it wasn’t over yet.
Next was the due diligence phase. The buyer’s team went through everything with a fine-tooth comb. They wanted to verify all the financials, make sure I wasn’t hiding anything. It was intrusive, but necessary. They even interviewed some of my key employees.
And finally, the closing. Money transferred, ownership changed hands. Done.
Now, here’s the thing: It wasn’t easy. It took longer than I expected, it was more stressful than I imagined, and I definitely left some money on the table. But, I did it. I sold my subscription business. Would I do it again? Maybe. But next time, I’d be a lot more prepared.
My key takeaways?
Get your financials in order EARLY.
Hire a good business broker. They’re worth their weight in gold.
Be patient. It takes time to find the right buyer.
Don’t be afraid to walk away from a bad deal.
So, yeah, that’s my story. Hope it helps someone out there. Now, if you’ll excuse me, I’m going to go relax on a beach somewhere. I’ve earned it.
