Northeast Dog Walking Company Sold for $340K, LOI in 65 Days
Rachel Horner
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2 min read
About the Business
Industry: Pet Care – Dog Walking and Pet Sitting
Location: Northeast
Size: $250K–$500K in annual revenue, $100K–$150K in cash flow
Sale price: $340,520
Listing to signed LOI: 65 days
Signed LOI to close: 102 days
The Challenge: Selling a Business With No Storefront
The company ran without a physical location, so its value was a broad client base built on referrals, with less than 10% of revenue from its top three customers. The owner wanted a buyer who would succeed with the business he had built.
65 Days to a Signed LOI: Financing Lined Up Early
What happened at every stage
Valuation: Baton valued the business on $100K–$150K in cash flow and marketed the business through a private data room.
Buyer Outreach: Baton ran qualification calls with buyers before introducing them to the owner. The owner met the two leading buyers in person: an individual buyer and a competing local pet-care company.
Offer Selection and Negotiation Support: Baton asked the competing buyer for a final offer by a set deadline, and the lead buyer raised his LOI to $340,520 that same day. Baton had introduced him to an SBA lender a month earlier, so he was already pre-qualified for bank financing.
Diligence and Closing Support: Baton convened a final negotiation call with both attorneys to settle the last open terms. The deal closed 102 days after the LOI on an SBA loan.
The Results
The buyer is an individual first-time buyer with a finance background, who formed a new company for the purchase. Through Baton's process, the business:
Sold for $340,520 in an SBA-financed deal
Closed with no seller note and no earnout
Was financed through an SBA lender Baton introduced before the LOI
What's next for the business?
The purchase agreement included two weeks of owner training for the new owner, with the option of two more.
Advice and Lessons for Future Sellers
Line up financing early. A buyer who is pre-qualified for an SBA loan brings a more certain offer.
Keep more than one buyer in play. A second serious bidder gave the owner a real choice at decision time.
Get both attorneys on one call. A single negotiation call can settle open terms faster than rounds of email.