Steve Michaels has found a way for smaller services to now get the higher multiples like larger services. He has spearheaded something akin to a buyers group – but in reverse. It’s called the shared profit plan or a sellers group. The large buyers of telephone answering services do not want to bother with smaller operations.
To combat this Michaels combines the billing of smaller answering services together. Then they can get to that sweet spot the larger buyers are looking for: at least $100,000 in billing per month. “We also are developing groups with $200k or even $300k in monthly billing,” Michaels added, “and then the multiple goes up for everyone.” There will be certain parameters to qualify for this program.
Privacy and confidentiality are major concerns. All sellers’ information will be kept private so they will not know who the other sellers are – just the buyer. “If you are thinking of selling and would like to receive fifteen times or more for your business, call me,” Michaels concluded. Contact Steve Michaels at 800-369-6126 or firstname.lastname@example.org.