Ep 11: From Founder to Freedom: Path to Selling a Business and Pursuing Adventure

In this episode, Jacob Koenig interviews Tim Shea, the founder and former CEO of FRG Waste. Tim discusses his journey with FRG Waste, a waste and recycling-based business he founded in 1996. He started by selling waste handling equipment and later expanded to provide comprehensive services, including processing materials and finding alternatives to landfill, all with a focus on sustainability and environmental responsibility. Tim talks about how his company's unique approach, transparency, and client-centric focus helped them grow and become successful over the 27 years of its existence. He also shares the experience of selling another company called Absolute Destruction. The discussion touches on the challenges of the sales process, the due diligence involved, and the importance of being well-prepared for selling a business. Tim emphasizes the need to have accounting and contracts in order and the importance of keeping customers and employees informed while going through the sales process. Tim then contrasts his experience of selling FRG Waste directly to a buyer without an advisor and selling another company through Woodbridge, a business brokerage firm. He highlights the benefits of working with Woodbridge, including their team's support, project management, and expertise in guiding the sales process. This episode also delves into the emotional aspect of selling a business. Tim shares his personal experience of transitioning from being the CEO to stepping away from the day-to-day stress of the business. He plans to buy a hybrid boat and embark on a journey along the Eastern Seaboard, showcasing his commitment to sustainability. The conversation ends with Tim expressing his appreciation for Woodbridge and their assistance in successfully selling his business. Here’s what to expect this episode: Importance of Preparation for Selling a Business The Value of Working with a Business Brokerage Firm The Emotional Aspect of Selling a Business Navigating the Due Diligence Process Balancing Business Success and Personal Dreams Connect with Tim Shea: https://www.linkedin.com/in/tim-shea-6247191/ Connect with Jacob Koenig: https://woodbridgegrp.com/ Learn more about your ad choices. Visit megaphone.fm/adchoices