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RCollard
post Oct 22 2019, 03:13 PM
Post#1



Posts: 86
Joined: 21-May 08
From: Wyoming


I have a successful and profitable business whose sole product is an Access-based application. For 25 years I have developed, marketed and supported the product which has a good installed base and recurring revenue via subscriptions and maintenance. I’m now considering my exit strategy and wonder if anyone here has previously sold a software business or found a successor.

I know software businesses can be sold through a broker. But I’m sure there are young entrepreneurial developers out there looking to move from hourly consulting to predictable revenue and product-focused work. Any ideas where to look?

--------------------
Rick
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FrankRuperto
post Oct 23 2019, 04:05 PM
Post#2



Posts: 353
Joined: 21-September 14
From: Tampa Bay, Florida, USA


Why give up your business when you can hire someone else to maintain it and continue to draw income from it?
How can you or someone else put a dollar value on your business?
Perhaps after a while, the developer you hired becomes more acquainted with your app, customer base, operations, etc, then you can offer him/her the option to buy and you continue to receive a percentage?

hth, Frank

--------------------
Currently supporting pawnbrokers that use my store management system developed with Access 2010 on Windows7. Experienced with Informix and Oracle DB's.
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RCollard
post Oct 23 2019, 05:35 PM
Post#3



Posts: 86
Joined: 21-May 08
From: Wyoming


QUOTE
Why give up your business when you can hire someone else to maintain it and continue to draw income from it?


Perhaps I was a poor judge of character back then but my two past attempts to bring someone on board did not work out, were costly and an enormous distraction. I'd rather find someone committed from the start via a purchase. I would expect to have to work closely with a new owner and developer for a significant but fixed period of time during the transition. I have provided pre- and post-sales technical support M-F, 52 weeks a year for the past 20+ years. So my exit strategy should include removing all such responsibility.

As others have noted, there are lots of ways to value a business and I will employ an NDA with any prospects.

--------------------
Rick
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Posts in this topic
- RCollard   Business Successor   Oct 22 2019, 03:13 PM
- - DanielPineault   Here and other specialized boards would be my gues...   Oct 22 2019, 03:58 PM
|- - RCollard   I don't want to alarm existing or prospective ...   Oct 22 2019, 04:14 PM
|- - RCollard   I've added our web site to my profile so anyon...   Oct 23 2019, 10:01 AM
|- - DanielPineault   From what I've seen either they simply walk aw...   Oct 23 2019, 10:12 AM
||- - projecttoday   Well, this website's posters mostly work as de...   Oct 23 2019, 10:49 AM
|- - GroverParkGeorge   This is partly a spurious side story, but I once a...   Oct 23 2019, 10:44 AM
|- - RCollard   One relative has expressed interest in the busines...   Oct 23 2019, 11:55 AM
|- - DanielPineault   Just be ready though. Anyone seriously looking in...   Oct 23 2019, 11:59 AM
|- - jleach   Typically that stuff is done under NDA and general...   Oct 23 2019, 01:29 PM
|- - DanielPineault   QUOTE Typically that stuff is done under NDA Very ...   Oct 23 2019, 01:32 PM
|- - jleach   We have a saying in aviation: "Rules and regu...   Oct 23 2019, 01:35 PM
- - FrankRuperto   Why give up your business when you can hire someon...   Oct 23 2019, 04:05 PM
- - DanielPineault   QUOTE How can you or someone else put a dollar val...   Oct 23 2019, 04:15 PM
|- - FrankRuperto   If I were a potential investor, I would first want...   Oct 23 2019, 04:29 PM
|- - jleach   Personally I'd be far more concerned about gen...   Oct 23 2019, 04:34 PM
- - RCollard   QUOTE Why give up your business when you can hire ...   Oct 23 2019, 05:35 PM



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