April 26, 2013
Bridge Ventures, LLC
Chicago, Illinois 60662
This story is about a stubborn old coot who thought he could sell his business without help. Big mistake. Having exhausted several attempts to sell my hearing aid practice from 2010 through 2012, I reluctantly dug out a business card from Craig Castelli of Bridge Ventures in Chicago. My last communication with Craig had gone something like this: “If things go south on the sale, I will get back to you.” It went all the way to the South Pole.
The first surprise came with the extraordinary and in-depth business valuation Craig generated. I received more information about the financial health of my business than during the course of my 23 year ownership. It underscored the reason I became an Audiologist and not an Accountant. When the time came to set the asking price my response was “Yeah, right!” Imagine my embarrassment when I was offered more than the asking price.
Then began what seemed like an endless number of phone calls, meetings, emails, texts, and attorney consultations all of which become part of the selling process. For the novice it can be daunting, but Craig kept this tightly wired old coot from losing it on several occasions as we labored on with the process. I once told Craig that he was wise beyond his years for maintaining such calm in the midst of what felt like total chaos.
Then the day arrives and you begin updating your online bank account every five minutes to see the money arrive. At this juncture, the hassles and headaches fade into the distance as all the years of building value into your business has finally been realized.
I can only make the highest recommendation for Craig Castelli and Bridge Ventures. Selling a business requires stepping through many mine fields but Craig can take you through safely to the other side.