Closed transaction · May 2013
Stafford & Jones Cigars
MDR & Associates took Stafford & Jones Cigars, a cigar retailer, through to closing in May 2013.
The transaction
- ClosedMay 2013
- SectorBusiness & consumer services
- LocationRichardson, Texas
- BuyerStrategic buyer: Lone Star State Cigar Company
- Engagement to closing60 days
- Represented byMDR & Associates
The sale
How it ran
In May 2013 we represented three cigar retailers in one transaction: Stafford & Jones Cigars in Richardson, Two Brothers Cigars in Plano and Fine Cigars in Allen.
All three were sold to Lone Star State Cigar Company, which with the purchase held four lounges along the US 75 corridor in Collin County.
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What buyers look at in a service business
Recurring and contracted revenue
The strongest single driver. Revenue under contract, on a schedule, or under a maintenance agreement is worth a multiple of the same revenue sold ad hoc.
Owner dependence
If customers buy because of you, the buyer is not buying a business. Reducing this is the highest-return work available before a sale.
Customer retention and length
Churn and average tenure tell a buyer what they are really acquiring. Have the numbers ready before they ask.
The full list, and who the buyers are: Selling a service business in Texas.
Your company
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