Western Pet Boarding & Daycare Sold for $940K, 34% Over Asking
Rachel Horner
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2 min read
About the Business
Industry: Pet Care – Dog & Cat Boarding, Daycare and Grooming
Location: West
Size: $500K–$750K in annual revenue, about 15 employees
Sale price: $940,000 (asking price: $700,000)
Listing to signed LOI: 130 days
Signed LOI to close: 82 days
The Challenge: Retiring Without Losing What They Built
The owners were ready for full retirement, and their priority was a buyer who would keep the team and the standard of care in place.
“I'm not looking for the best price. I'm just looking for the best deal, people who I think I can really work through the process with, because getting a term sheet is one thing, getting to the close is a whole other deal.”
130 Days to a Signed LOI: How Holding the Price Paid Off
What happened at every stage
Valuation: Baton set the asking price at $700,000, about 3.1 times cash flow.
Buyer Outreach: 85+ buyers viewed the listing, 30+ opened the data room, and Baton ran a separate email campaign to about 530 strategic-buyer contacts. When interest was slow, the Baton advisor held the $700,000 price instead of cutting it, because a national buyer was still evaluating the business.
Offer Selection and Negotiation Support: A private-equity-backed national pet-care group submitted an LOI well above the $700,000 asking price. Baton kept a full-price local buyer in play as a backup until the owners signed.
Diligence and Closing Support: The buyer ran a full quality-of-earnings review and tax diligence. Baton worked both sides through diligence, and the deal closed 82 days after the LOI at $940,000.
The Results
The buyer is a national pet-care group whose model is to keep each location's name and local managers in place. Through Baton's competitive process, the business:
Sold for $940,000, 34% over its $700,000 asking price
Drew 2 LOIs, including a full-price backup offer
Closed 82 days after the signed LOI, with no lender involved
What's next for the owners?
The owners are fully retired after a 60-day, phone-only transition.
Advice and Lessons for Future Sellers
Don't cut your price too early. Holding at $700,000 left room for a national buyer to come in well above it.
Keep a backup buyer warm. A full-price local offer gave the owners leverage and a safety net.
Know what matters beyond price. The owners put their team first and still sold well over asking.