Resources

Upcoming Webinar

We will see you in the new year!
January 6, 2023

Join us on our webinar to find out how to prepare your business for sale to a strategic buyer. Learn about the business sale process, the different kinds of transactions, and how to improve the value of your company upon sale – even if you’re years away from selling.

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How to make the most out of the OpnRoad Resources with Founder @ Scott Duke

Coming Soon: Preparing a Property Management Firm for Sale to a Strategic Buyer

Podcasts

Our latest podcast appearances and download resources for listeners.

Why Become an Entrepreneur with Robert Szmigiel

Why Become an Entrepreneur with Robert Szmigiel

Scott joins Canada's Podcast host Robert Szmigiel to shine some light on his entrepreneurial journey. Amongst many topics, the two discuss why people become entrepreneurs and how to sell a business for $20 million. Canada’s Podcast was created out of a need to build a...

Avoiding the Owner’s Trap with Chris Goodman

Avoiding the Owner’s Trap with Chris Goodman

Scott Duke has founded 11 companies during his entrepreneurial journey; from fleece clothing to a hot-dog stand to a property management firm. All of Scott’s experiences taught him the value of building transferability into a business so that one day, when you’re...

Preparing Your Business for Acquisition with Jason Hunt

Preparing Your Business for Acquisition with Jason Hunt

This podcast goes over how to properly prepare your business for sale. We cover what you need to get in order in terms of selling your business. We’ll also discuss how to go about selling your company, and the changing dynamics you need if selling your business for a...

Downloads

Business Owner’s

Saleability Checklist

A complimentary, one-page road map for you to think about when selling your business. Decades of OpnRoad experience and transactions, all in one clear document to help you get started.

Business Sale

Accelerator

As a valued podcast listener, we are offering an exclusive discount for our  Business Sale Accelerator course (as offered by our subsidiary and learning arm, Gateway Capital).

Quick Reads

Business Sale Process

STEP 1 - Set Objectives

Knowing what a perfect exit looks like for you, your shareholders, your family, and your stakeholders is the first step, and most important step toward a successful exit.

Owners need to have a clear vision of what makes their exit a success and define how the sale drives purpose for their next stage in life.

STEP 2 - Valuation

Know exactly what your business is worth in today’s market, and where the value comes from in the eyes of a buyer. 

Only when your business’s value drives are known and understood can they be leveraged during negotiation.

STEP 3 - Risk Analysis (Sellability)

Determine if your business is sellable, and if it will make it through a buyer’s due diligence process.

STEP 4 - Marketing

Create your Blind Profile (teaser), Financial Overview (normalized financial statements), CIM (Confidential Information Memorandum), and Marketing Video.

Confidentially market business to your network, or leverage our marketing system to put your opportunity in front of 10,000+ active buyers. 

STEP 5 - Negotiation

Navigate the bidding process, LOIs (Letter Of Intent), and negotiation to maximize the sale price.

STEP 6 - Closing Activities

Navigate legal documents and the transition of all tangible, and intangible assets.

Top 5 Deal Killers

Profitability

If a business’s normalized earnings are under $100,000 it creates challenges for a sale because there is not enough free cash flow to pay an owner’s salary and service the debt from financing a purchase.

Role-Identity Fusion

In many instances, businesses are unsellable because the owner has tied their identity, social well-being, and life’s purpose to the creation and operation of the business.

Subconsciously, they feel if they sell the business a part of them is dying.

The subconscious thought of death prohibits the owner from signing the sale document and they walk away from their own successful sale agreement.

Owner Dependance

If an owner needs to work in a business more than 10 hours per week, it’s an indication of owner dependence.

Some owners can easily resolve this issue by delegating work to a GM. Others have difficulty transferring power and are forced to stay on for 2-3 years post-sale to train a new manager for the buyer.

In some cases, the owner’s skill set is not transferable, making the business unsellable.

Customer Concentration

If a single customer represents more than 15% of revenue, 90% of buyers will not move forward with the purchase as the riskiness of the business is deemed too high.

OR

If a single customer represents more than 30% of revenue, the business is unsellable due to insolvency risk if the single customer were to be lost.

As investment banker Rob Slee states, “the company is one phone call away from oblivion.”

Supplier or Key Person Dependance

If the business is reliant on a single supplier that can’t be replaced, it may be unsellable.

If the business is reliant on a single employee’s knowledge or skillset it may be unsellable.

How to Win in Your Deal

Experienced, practiced, and equipped competitors win at any game.

And in the world of business sales and acquisition the most experienced players have an extremely unfair advantage.

When selling your most valuable asset, to ensure you are prepared to win you must:

  • Know what your company is worth and why.
  • Ensure your company will make it though an investor’s discovery and due diligence process.
  • Prepare your business so it’s set up to be transferable.
  • Hire an experienced team and tie their compensation to your wealth creation.

    OpnRoad M&A Library

    We created the most comprehensive list of transactional professionals, business sale service providers, valuation tools, lenders, value advisors, and business sale resources.

    Everything you need to sell or acquire your business.

    General Business Sale Resources

    Free business sale information.

    YouTube Channels

    The Happy Deal Maker
    Brent Cenkus
    BizBuySell
    Dan Martell
    SmallBiz Experts
    Moran Pober
    Freedom Factory
    David Barnett
    Financially Simple
    Nate Lind
    Buy & Sell A Business Marketplace

    Podcasts

    Built To Sell Radio
    Sell My Business
    The Happy Dealmaker
    Sell In 10 Weeks Podcast
    M&A Science
    Deal Maker Academy
    The Business Owners
    Quiet Light

    Courses

    Business Sale Navigator
    Business Sale Accelerator

    Slack Channels

    Inside Biz

    Top 10 Articles

    How To Sell A Business
    How To Sell A Small Business In 7 Steps
    7 Steps To Selling A Small Business
    5 Mistakes To Avoid When Selling
    How To Sell Your Business In 6 Steps
    Tips For Selling Your Business
    How To Sell Your Business
    Digital Exits 7 Steps
    CNBC How To Sell A Business
    6 Ways To Get The Best Price
    How To Buy & Sell A Business Online

    Top 10 Books

    Built To Sell
    The Art Of Selling Your Business
    Private Capital Markets
    There's Always A Way To Sell Your Business
    How To Sell Your Mid-Size Business
    Restaurant Dealmaker
    Little Book of What Next?
    Walk Away Wealthy
    Sell Your Business For An Outrageous Price
    If They Can Sell Pet Rocks, Why Can't You Sell Your Business?

    Transition Events

    Business Transition Forum
    Business Transition Conference
    Small Business Expo
    Virtual Sell Your Business Conference
    America's Small Business Summit
    Divestopedia Webinars
    Exit Plan Summit

    Blogs

    The Happy Dealmaker
    BizBuySell
    BDC Business Sale Blog
    The Entrepreneur Business Sale Blog
    Biz Journals How To Sell
    Divestopedia
    Fit Small Business
    Buy and Sell A Business

    Facebook Groups

    Business Buying Mastermind
    Small Business Ownership Network
    Buy Sell Alliance
    Small Business Owners United
    Entrepreneurs
    Business Transition Information Network
    Business Buyers Club

    LinkedIn Groups

    The M&A Forum
    National Business Dev Ass.
    Business Transition Simplified
    I Want To Sell My Business
    Small Business Forum
    Eprenz.com

    Valuation Resources

    Tools to help you determine the value of your business.

    Valuation Tools

    Capitaliz
    Value Opportunity Profile
    ValuAdder
    Equidam
    BixEx Value Calculator
    ValueTrax
    CalcXML
    Buy and Sell A Business Value Tool
    Business Reference Guide
    Page Up
    Jazoodle
    Equidam
    Business ValueXpress
    Biz Equity

    General Market Data

    IBIS World
    BizBuySell - Data
    Small Business Trends
    IBBA Market Pulse
    Avg. Broker Commission Data
    Divestopedia
    CAN Financial Performance Data
    NAICS CODE

    Sale Price Comparison

    Business Valuation Resources
    BizMiner

    Listing Your Business for Sale

    Domestic and global business listing services.

    Canadian Listing Sites

    BusinessesForSale.com
    Business Sell Canada
    CompanyListing.ca
    IBBA Canada
    Zolo
    Venture Connect
    Imagine Kootenay
    Kazooga
    Business Exchange
    Otonomy

    Global Listing Sites

    Acquizition Biz
    Buy And Sell A Business
    BizBuySell
    BusinessBroker.net
    Business Explorer
    Business Mart
    Business 2 Sell
    Dealstream
    Exchange
    LoopNet
    Local Buz for Sale
    GlobalBX
    Buyertise
    BizQuest
    Flippa

    $1 Million & Up EBITDA Listing Sites

    Axial
    PitchBook
    Search Funder
    Village Wellth

    Marketing Comapnies

    ValueCraftz
    Pitch Deck Fire
    Pitch Deck Services

    Value & Exit Planning Advisors

    People to help you maximize the value of your company and plan your future.

    Value Consultants

    OpnRoad
    Go SmallBiz
    Value Builder System
    Supplement Advisory

    Valuation Experts

    OpnRoad
    Kalex Valuations
    Hilco Valuation Service
    Swift Valuation
    JBV Valuation
    Biz Equity
    Mr Valuation
    Fair Market Valuations
    Bafoeval Valuation

    Financial Planners

    Edward Jones
    TD Wealth
    Investors Group
    Iron Shield
    Manulife
    Workable Wealth
    EP Wealth Advisors
    Focus Financial
    Mission Wealth
    KLS Financial

    Exit Consultants

    OpnRoad
    Mackey Advisors
    Group 50
    Exit Adviser
    Cayenne Consulting LLC
    Be The Bees
    NAVIX
    MAUS
    Corporate Value Metrics
    Effectuation Optimum
    Strategy Leaders
    ProStrategix
    Value Consulting
    CMC Partners
    John F Dini
    Stone Consulting Group
    Exit This Way Consulting
    Touchstone Advisors
    Paratus Business Resources

    Accountants

    Mazuma
    Enkel
    Baker Tilly
    BDO

    Transition Law Firms

    Nixon Wenger
    The Smith Law Group
    Wright Business Law
    GLG LLP

    Online Law Firms

    Rocket Lawyer
    Legal Shield
    Ask A Lawyer
    Law Depot

    Tax Strategists

    APO Financial
    Bomar Law
    Matt Chancey
    Big Ideas For Small Business
    Baker Law Firm

    Business Sale Intermediaries

    People that will help you sell your company.

    M&A Advisors

    OpnRoad
    Axial's List
    Beacon Advisors
    BizEx
    Catalyst Brokers
    Hatteras Group
    Osprey Capital Partners
    Apex Exit Advisors
    Promerita
    M&A Worldwide

    Business Brokers

    OpnRoad
    Axial's List of 895 Broker Companies
    Website Closers
    Sunbelt Business Brokers
    Link Business Brokers
    Transworld Business Brokers
    Murphy Business Brokers
    VR Business Brokers

    Investment Bankers

    DIY Programs

    Business Sale Navigator - FREE
    Sell By Owner
    Sell Biz
    Udemy
    Lynda - FREE
    David C Barnett

    Realtors

    Keller Williams
    NAI Captial
    International Financial Group
    Berkshire Hathaway
    Re/Max
    Exit Realty
    Coldwell Banker
    Sutherby's International

    Associations & Networks

    Groups dedicated to business sales & exit planning.

    Intermediary Associations

    Cali Association of Business Brokers
    IBBA Canada
    IBBA International
    DealBuilder Logo
    DealBuilder
    M&A Club Logo
    M&A Club
    Alliance of M&A Advisors
    M&A Source

    Other Associations

    NACVA
    Canadian Franchise Association
    Business Valuation Association
    American Society of Appraisers
    Association For Corporate Growth

    Exit Planning Associations

    Exit Planning Institute
    Exit Planning Exchange
    Exit Planning Solutions

    Buyer Networks

    Places to find your buyer.

    Buyer Websites

    Search Funder
    The Business Buyer Directory
    Global Buyer Directory
    E World Trade
    Business Buyer Club
    Global Buyers Online
    Grata

    Private Equity

    Private Equity Info
    Axial's List of 528 PE Compaines
    Crunch Base
    Snowdon Partners

    Buyer Associations

    Biz Dev Association
    National Biz Dev Association

    Capital Sources

    Places to find you or your buyer money.

    US Banks

    JPMorgan-Chase
    Bank of America
    Wells Fargo
    Citibank/Citigroup
    U.S Bank
    PNC
    Capital One
    TD Bank
    Bank of New York Mellon
    State Street

    US Lenders

    SBA Loans and Grants
    NerdWallet
    100 Most Active SBA Lenders
    Biz2Credit
    Bluevine
    Mr Valuation
    Kabbage
    SmartBiz
    FundBox
    Seek Business Capital
    Fundra

    Grant & Government

    Canadian Grants & Financing
    Mentor Works Financing
    Canadian Grant Business Center
    Canada Startups
    Innovate BC
    Fundura Grants
    SBA Loan and Grants
    USA Funding Options
    NerdWallet
    Bend US Grants

    Canadian Banks

    Bank Of Montreal (BMO)
    Scotia Bank
    CIBC
    TD
    Royal Bank of Canada (RBC)
    National Bank of Canada
    Desjardins Group
    HSBC Bank of Canada
    Laurentian Bank of Canada
    Canadian Western Bank

    Canadian Lenders

    ICapital
    BDC
    Thinking Capital
    GreenBox Capital
    OnDeck Capital
    Merchant Growth
    Lendfied
    Sharp Shooter Funding
    CanaCap
    Company Capital

    Crowd Sourcing/Other

    Kickstarter
    Indiegogo
    Crowd Supply
    Crowdfunder
    WeFunder
    Fundly
    LendingClub
    Crowcube
    Funding Circle