Nothing makes me happier than helping operators realize their dreams
As a former operator, I know firsthand how satisfying it is to complete a successful new account installation. There is nothing more satisfying for an OCS, vending or micro market operator. As a business intermediary who represents sellers exclusively, I get that same thrill after successfully facilitating a deal that allows an operator to sell their business and enjoy life to the fullest.
A cause for celebration
Once a successful sale is completed, most operators are ready to move on to their next chapter. Rarely do we see an operator perplexed about their future, asking themselves, “What do I do now?” It’s quite the opposite. The sellers we work for are well prepared to change direction and in every recent case, because of today’s booming convenience services market, the sale is a cause for celebration. These improved times are bringing new business brokers into the game – some of whom have only done a few deals, only in the best of times. Even in tough times, our process at VBB Advisors works.
Our process works - even in tough times
Consider these outcomes from sellers who chose VBB Advisors for guidance in tough times.It just happened to be March of 2020 (at the start of the pandemic) when Mike Hammergren decided to sell Apex Vending. He ultimately closed his deal with Elite Vending in December of that same year. As Hammergren points out, his successful journey during a worldwide crisis is proof that Mike Kelner and VBB Advisors have a winning formula. After the sale, Hammergren moved down to Florida’s Gulf Coast to play a lot of golf!
Our process works – need a quick sale?
For David Perry from Choice Refreshments in Rochester, New York, his unique reason to sell was a fundamental disenchantment with doing business in New York state. Perry was particularly unhappy with the state’s handling of the pandemic, which he felt was crippling the business community. He wanted to sell quickly and start enjoying life.
“Ultimately, I decided to get out while the getting was good. That's when I reached out to Mike Kelner in January and we were sold by middle of March,” Perry explained. “Right off the bat, I was pleased with his contract – it was simple, it was fair and there was no retainer, unlike some brokers.”
Perry noted one more big benefit to working with VBB Advisors. “It was great to be working with a sell side broker who only had our interests in mind. It was also nice to feel confident about our selling price based on Mike’s valuation.”
“The benefit was high six figures.”
I am particularly proud of our work related to the Legend Food Service sale. Kyle Loughran is not your typical convenience services operator. He was attracted to our industry for many reasons, including micro markets and new technology. With a background in private equity, he had been involved in over 30 M&A deals before starting Legend Food Service. With all his experience in deal-making, when it was time to sell the company, he turned to Mike Kelner and VBB Advisors.
Why would an experienced M&A oriented entrepreneur choose to work with a sell side broker instead of doing the deal on their own? Loughran outlined several reasons why he chose VBB Advisors. “M&A is hard,” said Loughran. “It takes a lot of time and focus. Mike is an expert in M&A and he will get you the best offer. I don't think a full-time operator is going to have the bandwidth to focus on a deal the way Mike does. That extra bandwidth on the front end of the deal translates to dollars,” he said. “For us, using Mike translated to multiple offers – the benefit was high six figures.”
A grand slam home run
When it all comes together – planning, the economy, the right market and a company who has checked all of the boxes that define a premium deal, the VBB Advisors process hits it out of the park like a grand slam home run.
That was the case for Jodi and Mike Glimpse of Camelback Vending in Pheonix. They had a clear plan to retire in Hawaii, a plan that took shape during their 18 years as a full-service operator. Planning was the key here and that well planned approach is something that every operator should keep in mind.
The Camelback deal was perfect. Everything lined up for Jodi and Mike. They were operating in a growth market that all the major players were interested in. Their own business was growing rapidly, and they had all the right technology in place. With that tailwind, they sold their business for the highest price to sales ratio I have ever seen.
Jodi said she was happy to have a broker who was representing her exclusively. “The fact that Mike is a seller’s broker was very important,” she noted. “I never wanted to feel like I had someone playing on both sides. It's like trying to buy a house using the realtor who is selling the house. You don't ever know if you're getting the most honest feedback or advice. With Mike, I always knew he was looking out for our best interests.”
Three valuable lessons
One lesson to be learned as we sit here in Q1 2025 is that you will be rewarded for planning when you are selling your business. If you want to sell your business in January 2026, now is the time to start the process. One of the great benefits of starting the selling process well in advance is that the entire experience will be calmer and easier. When the seller knows everything is completely in order and their company is perfectly positioned to generate multiple offers, that mitigates a great deal of stress.
Another lesson to be learned – deal only with a “sell side” broker, who represents your interests exclusively.
Lesson number three – VBB Advisors has a process that works – in good times and bad – for premium operators and for those who fall a little short of an “A grade.” I can help you improve that grade!
Take that first step
Buyers come to me because they know that I serve sellers who have thoroughly and thoughtfully considered their exit strategy with my help. That is the type of seller that you want to be – a seller who has their ducks in order, has taken steps to make their business as attractive as possible and a seller who values their employees enough to make a deal that everyone will feel good about.
Take that critical first step. That is often the toughest one to take.
Order my free 2025 Exit Strategy Planner. At the very least, it will provoke some thought, and this is a good time to think about your future.
What ever your reasons are to sell your company - the timing, a sense of frustration, the desire to enjoy life or an interest in rewarding yourself for years of hardwork – VBB Advisors can help you realize your goals.
I am Mike Kelner, the leading sell sideintermediary in the convenience services industry. Let’s sit down and have a conversation. Use this appointment scheduler to set up a meeting with me.
Or – give me a call at 704-942-4621
