You know what they say about assumptions!
I’ve been selling pool routes for over 10 years and can count on one hand (with a few fingers left over) how many owner-financed deals we’ve done. It wasn’t because we didn’t like doing owner-financed deals, we just assumed sellers wouldn’t be interested in it.
Last week I received an email from a buyer I worked with a couple of months ago. Here’s the message he sent:
I told Brian I would reach out to the seller to see if he’d be interested in owner financing. After a few back and forths, the seller agreed to finance 40% of the purchase price and the buyer will sign a personal guarantee for the loan. By the time you read this the deal will have closed. It turned out to be a win, win for both parties which are something we always strive for at Sealey Business Brokers. Here’s the caveat, not all sellers are open to providing financing on their route but you should never assume that no seller will provide seller financing. So if you see a route that you’re interested in and you have 60% to put down then send us an email at email@example.com to see what we can do.
Oh, I almost forgot, we’ve seen an increase in multiple buyers interested in the same route. The key to closing in this situation is being ready to close quickly. We had another situation where one buyer wanted to set up their LLC and transfer funds from another account. By the time all that was done, the route was sold.