"I started Fanny's Play House, Inc. 34 years ago in a two bedroom apartment. The hobby turned into profitable Mom and Pop business, specializing in multicultural dolls and puppets for the school supply industry and creative playthings for specialty stores. Two years ago, I started to prepare myself on the sale of the business in the near future. I am in niche business, one which can be difficult to sell. I was advised by some people to use the services of an evaluator. I interviewed several and found the fees exorbitant for a small business like mine.
That was when I turned to SCORE. My advisors there, over a period of months, helped me to evaluate the business, set realistic goals. They agreed with me that a broker is not needed. Networking will be the best venue. They even helped me to draft a solicitation of sale to be sent to targeted companies in the school supply industry.
Fortunately, within 3 months of networking, I found a company which is a right fit. This company is established, does a much bigger volume of business and appreciate what I had accomplished over the years. My advisors at SCORE helped me in the negotiation, reinforcing the strategy of not naming a price, but letting the buyer make an offer. I was also advised on the tax structure of the payment.
Closing took place recently. I was offered a very fair amount, mostly in cash. I was also offered a design contract. I cannot be happier with the deal. It could not have happened without SCORE. Not only was I given prompt appointments to meet the advisors, I received advice by email".
Thank you, Carl Hank and Sid!