Mergers & Acquisitions – They say selling a business is an art – we’ve turned it into a science
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It’s one thing to consider selling your business. It’s another thing to actually do it. On this edition of “Deal Talk,” Jeff Allen meets with Dr. Harry Freedman, who talks candidly about his experience of selling his business—a successful franchise quick oil change shop. Dr. Freedman discusses some of the anxiety he had during the process, along with what he believes was the key to a smooth transaction. You’ll also learn about the team that Dr. Freedman worked with every step of the way. This show provides a fascinating first-hand account of selling a business and is particularly valuable if you are considering selling a business for the first time.
Orthopedic Surgeon
Dr. Harry Freedman, MD is an orthopedic surgeon in Seaford, DE. He is currently licensed to practice medicine in Delaware.
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Business wise, Dr. Freedman started out from a sideline business with a managing partner, and they opened by a quick lube or oil change, convenient oil change as it’s called now, in 1988. Just prior to opening the store, the person to be the managing partner moved away so, he ran this business for well over 25 years, although it was not on a day-to-day business. Dr. Freedman did all the book keeping and disbursements and payroll outside.
Eventually, Dr. Freedman and his wife started to fomally market the business when the manager and assistant manager decided that they didn’t want to be owners themselves. He then contacted Morgan & Westfield and got a a realistic evaluation of his franchise business. Dr. Freedman, within the last couple of years, sold his business.
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