70 - A Wild Mountain Exit

Poised for Exit produced a special edition show and  invited Randy Krivo of Sunbelt Business Advisors to be a guest interviewer and feature a client of his who successfully sold her business during COVID!  Amy Frischmann and her brother Dan, took over the Wild Mountain Ski Resort from their parents in 1995, who bought the business in 1972. Amy and Dan sold the business to an owner operator in March of 2020, but due to the onset of the pandemic, the closing was cancelled. After some creative structuring facilitated by Randy, the buyer, seller, and lender worked together to get the deal done, and it closed in June of 2020. Randy worked closely with Amy and Dan to help them achieve their best possible exit. The magic for Amy was that the buyers were the right fit. Legacy was very important to her and her family. They knew they didn’t want to sell to a large corporation, but rather to a buyer who had a personal interest and experience in the ski industry; they did just that. Amy was asked what it was about the selling process that surprised her, and she shared three things:1.      Selling is an emotional experience2.      Meeting with prospective buyers was at times like an interrogation (!)3.      Selling your business is a full time job on top of a full time jobShe said that without Randy’s help, it never would have come together.Now, Amy is working full time in her other family-owned business (that goes back to 1906!) called Taylor’s Falls Scenic and Boat Tours, and Taylors Falls Canoe and Kayak. You can check out what Amy’s up to here.Find Randy here and find Julie here.Thank you to this month's sponsors! Sunbelt Business Advisors and JAK CPA's.Connect with Julie Keyes, Keyestrategies LLCFounder, Consultant, Author, Pod-caster and Instructor