A Light at the End of the Tunnel

There is always a light at the end of the tunnel. For Robin and Rick Peters, that light was spending more time in their favorite place - the Sunshine State. After 40 years and two generations of owning and operating Furniture Manor, Robin and Rick were ready to retire and spend more time in Florida. They started discussing the idea with their CPA, who recommended they connect with Calhoun Companies agent Robert Warrick. 

“When Robin and Rick gave me a call, two things became clear,” says Robert. “They were ready to enter a new stage of their life and they wanted the new owner to keep their business rolling.” 

Robert set out to find potential candidates, one of which was the perfect fit. They were a motivated individual buyer with lofty international expansion and digital goals. With the buyer identified and the sellers on board, it was time to dig into negotiations. 

“There were a handful of factors that contributed to the business’ pricing,” Robert explains. “There was a market valuation on the real estate, inventory at landed cost plus customer deposits, and SDE on the business. While all of these pieces pointed towards commanding a premium price, we had to take into account the market and state of the industry as a whole.”

Over the course of the next several months, the buyer and sellers went back and forth as the deal began to shape up.

“There were some obstacles that we had to overcome,” says Robert. “My role was to represent Robin and Rick’s best interest, and at times that meant keeping them from leaving the table.”

Robert took the lead in moving things forward, working with Robin and Rick and their CPA, as well as the buyer’s bankers, the SBA, and neutral attorneys.

Robert emphasizes, “Keeping a steady mind, full transparency and relentless communication with both sides was critical in getting this deal done.” 

Throughout this process, Robert not only continued to build a positive, trusting, and educational relationship with Robin and Rick, but worked relentlessly to ensure their family’s goal of a successful transaction came to fruition. And, after months of negotiations, the deal was successfully closed. 

Looking back on the experience Robin says, “Robert was always willing to talk. I can’t tell you enough good things about him. He’s very professional, keeps his cool, and can cool others down. Ultimately, he got us a good price and we’re very happy with where things landed.”