Turning Bar Fridges into an $80M Acquisition Target
“Luke Peters founded NewAir in the early 2000’s and eventually grew his business to $80 million in revenue. He eventually sold his company to a financial buyer in 2022,” shares Sam Thompson a Minneapolis business broker and the president of M&A firm Transitions In Business. “In this episode Peters talks about the “10% rule”, he answers buyers number one question and he shares tips on derisking your business.”
Luke Peters started off by reselling everyday appliances like bar fridges online. Eventually he built a brand and shifted to selling his products on big e-commerce retailers. Peters grew NewAir to $80 million in revenue before selling it for a life-changing windfall in 2022.
In this episode of Built to Sell Radio, you’ll discover how to:
- Think about something Peters calls “The 10% Rule.”
- De-risk your business in the eyes of an acquirer.
- Weed out charlatan acquirers that don’t have the money to buy your business.
- Answer the critical question every buyer asks.
Peters provides a masterclass for turning nothing into something valuable.