Peter, along with his partner Gary Morton, formed SKUFood to help business owners in the food industry develop and execute effective merchandising strategies to access, maintain and grow shelf space and sales velocity at major food store chains in Canada. SKUFood’s podcasts (called SKUFood Talks) cover a host of topics of interest to its food business members across Canada.
Eric and Peter’s podcast focused on the near-term and longer-term actions that business owners can take to increase the marketability and value of their business, if they decide to sell in the future. Eric also outlined how a typical sale process can unfold, once an owner begins working with an outside transaction advisory firm like SDR Ventures. He explained the level of involvement required by owners at each stage and the keys steps throughout the process. He also outlined some of the challenges that can arise and what business owners can do to mitigate those issues before they become deal breakers.
Selling a business is often the most significant financial decision that an entrepreneur makes throughout his/her entire career. Eric and Peter discussed the numerous misconceptions owners often have about how their business will be perceived by buyers. These misconceptions include how easy or hard it will be to sell and how long the sale process may take.
You can listen to the full podcast here.