When you’re a small business owner, it’s hard to imagine what will happen to your business once you’re ready to move on from it. Do you just decide to quit and close up shop? Or is there an opportunity to sell it, creating a profit from the business you’ve worked so hard to build? In this episode of the This Week In Weddings podcast, we’re chatting with someone who successfully sold her service-based, wedding industry business and getting the inside scoop on how it can be done.
About our guest:
In addition to Planner’s Lounge, Debbie Orwat worked as a highly sought after wedding and event planner in Denver, Colorado for more than ten years. During Debbie’s ten year reign as owner, the company won numerous awards, including The Knot Best of Weddings Hall of Fame Award, 2 ICON awards, and was published in more than 30 wedding and lifestyle magazines. Debbie has been featured multiple times on local television stations as a party planning expert. Debbie also owned StudioWed Denver, a boutique wedding showroom and coworking space, for six years. In 2015, Debbie sold her event planning business and StudioWed to focus on Planner’s Lounge.
In this episode, listeners will hear about:
- Debbie Orwat’s background in the wedding industry
- The steps Debbie took to sell not one, but two businesses in the wedding industry
- What you’re actually selling when you have a personal, service-based business
- The things you can be doing now to ready your business for sale
- How Debbie determined the value of her business and found a potential buyer
- The one thing that didn’t go as expected shortly after the sale of her business
- Built to Sell by John Warrillow