Midwest Mover Sold for $150K, Closed 41 Days After LOI

About the Business

• Industry: Home Services – Local Residential Moving

• Location: Midwest

• Size: $250K–$500K in annual revenue, 3 full-time staff plus part-time movers

• Sale price: $150,000

• Listing to signed LOI: 247 days

• Signed LOI to close: 41 days

The Challenge: Moving On to a New Phase

The two co-owners were moving on to a new phase of life. They wanted a buyer who could keep the trucks and crews running for local customers.

247 Days to a Signed LOI: Finding a Local Operator

What happened at every stage

1. Valuation: Once the owners supplied trailing-12-month financials, Baton re-ran the valuation on the most recent numbers before the listing went live.

2. Buyer Outreach: Baton contacted more than 500 buyers and syndicated the listing to outside marketplaces. 110 buyers viewed it, 35 opened the data room, and the owners met two of them.

3. Offer Selection and Negotiation Support: A pair of local operators who signed Baton's NDA submitted an IOI and then an LOI on the platform. Baton prepared the LOI for e-signature, and both sides signed it.

4. Diligence and Closing Support: The Baton advisor tracked purchase-agreement drafting and ran weekly calls with both sides. The deal closed 41 days after the LOI, with no lender involved.

The Results

The buyers are two local operators who already own a related business in the same metro, and they run the moving company through a full-time operating partner. Through Baton's process, the business:

• Sold for $150,000 to buyers Baton sourced

• Closed 41 days after the signed LOI

• Was financed with a cash down payment and seller financing, with no bank loan

What's next for the owners?

The owners focus on their other business interests and remain available to support the new owners.

Advice and Lessons for Future Sellers

1. Look for buyers who already run something nearby. Local operators with a related business saw a natural fit.

2. Seller financing can stand in for a bank. A cash down payment plus a seller-financed balance let the deal close without a lender.

3. Get your latest financials in early. Trailing-12-month numbers gave buyers the most current picture of the business.