Remote Bookkeeping Practice Sold for $132K, LOI in 3 Days
Rachel Horner
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2 min read
About the Business
Industry: Professional Services – Small-Business Bookkeeping
Location: Remote
Size: $50K–$100K in annual revenue, $50K–$75K in cash flow
Sale price: $132,000 (asking price: $132,000)
Listing to signed LOI: 3 days
Signed LOI to close: 19 days
The Challenge: Stepping Back on a Short Timeline
The owner ran the practice on her own and wanted to step back from the business as soon as possible. She needed a buyer who could take over her recurring monthly clients quickly.
3 Days to a Signed LOI: An Off-Market Buyer Ready to Move
What happened at every stage
Valuation: Baton re-ran the valuation before launch and set the asking price at $132,000, about 2.5 times cash flow.
Buyer Outreach: Before the public listing, Baton put the practice up as an off-market profile and reached out to 304 buyers, which drew all-cash interest from an individual buyer. In all, 50+ buyers viewed the business and 4 opened the data room.
Offer Selection and Negotiation Support: The owner met the buyer on a call that Baton set up, and he submitted an LOI the same day. She accepted the full $132,000 asking price in cash three days after going live.
Diligence and Closing Support: The Baton advisor set up a shared diligence tracker, a deal data room and weekly check-ins, with a written timeline to close. The deal closed 19 days after the LOI, ahead of that timeline.
The Results
The buyer is a first-time buyer with a background in finance, and he runs the practice hands-on. Through Baton's process, the business:
Sold for $132,000, its full asking price
Signed an LOI 3 days after going live
Closed all cash, with no lender or seller note, 22 days after listing
What's next for the owner?
The owner has stepped back from the business after a short transition of up to three months.
Advice and Lessons for Future Sellers
Off-market interest is worth acting on. An early inquiry on a private profile turned into a full-price sale once the owner listed.
Price it on a fresh valuation. An asking price grounded in current numbers gave the buyer a figure he signed at on day three.
All-cash deals can close fast. With no lender involved, the buyer and owner closed in under three weeks.