What Buyers Actually Look for When Buying a Business

If you think a big EBITDA number alone will get you a big exit… you’re in for a rude awakening.In this episode, John sits down with longtime business advisor David Barnett—who’s helped sell hundreds of companies—to break down what actually drives value when it’s time to sell your business.From misunderstood multiples to messy financials, from distressed sales to “built-to-sell” winners, this conversation pulls back the curtain on how deals really get done—and why most owners leave money on the table.Because the reality is simple: Buyers aren’t just buying your profit… they’re buying how confident they are that profit will continue without you. What you’ll learn in this episode: Why EBITDA alone doesn’t determine your valuation  The 2 questions every buyer asks before making an offer  How poor systems, bad margins, and owner-dependence kill deals Most businesses don’t sell because they weren’t built to sell. If you want a real shot at a high-value exit, this episode is your roadmap.Connect with David Barnett: 👉 https://www.davidcbarnett.com/Connect with John: 👉 https://x.com/thehvacjack💡 Yelp — A Smarter Way to Win LeadsGoogle costs are up. Lead quality is down. You’re paying more for less.Meanwhile, Yelp generated 125M+ home service leads last year—and powers results across ChatGPT, Google AI, Apple Maps, and Alexa.Less competition. Higher intent.👉 Book a call: https://business.yelp.com/ownedandoperated 📞 Sponsored by Quo — The Modern Business Phone for Service ProsMissed calls mean missed business. Quo (formerly OpenPhone) is the AI-powered phone system that logs calls, creates summaries, and automates follow-ups — keeping your team connected and customers happy.?🎁 Start your 7-day free trial and get 20% off your first six months at https://quo.com/owned If you enjoyed this episode, leave a 5-star review—it helps us reach more operators building real businesses.Send Us Mail!More Ways To Connect with O&OJohn's Podcast YouTube ChannelOwned and Operated Newsletter Bonus Videos From JohnLeave a ReviewJohn Wilson, CEO of Wilson CompaniesJack Carr, CEO of Rapid HVAC📌 Disclaimer: Some links may include UTM parameters or affiliate relationships, meaning we may earn a commission if you make a purchase. Episodes may feature sponsors, but all opinions expressed are our own.