Welcome back to The Entrepreneur's Journey. In this episode, Jason Gabrieli is joined by John Buxton, founder of Options2Exit and former owner of Legacy Roofing. John shares how he grew Legacy Roofing into one of the country's largest roofing companies before selling the business and eventually using that experience to help other trade and home services owners prepare for their own exits. They discuss choosing the right buyer, building a strong advisory team, creating competition among potential buyers, preparing years before a sale, and the operational qualities that can make a business more attractive to acquirers.

In This Episode, You’ll Learn:

Why the highest offer may not always come from the best buyer for your business.

How the right legal, tax, wealth, and sell-side advisors can affect an exit.

Why preparing for a sale well before receiving an offer can create more options and value.

What buyers look for in trade and home services businesses, including strong processes, management independence, and a clear focus.

What we discussed:

[00:00:00] Introduction.

[00:01:44] How John grew Legacy Roofing from a startup in 2012 to a top-100 roofing company with four locations and roughly 130 employees.

[00:03:11] Why John originally viewed his business primarily as a cash-flow generator rather than an asset he would eventually sell.

[00:04:21] How acquisition inquiries helped John recognize the enterprise value he had created.

[00:07:40] What surprised John about private equity buyers and why understanding a buyer's vision matters.

[00:10:00] Why sellers should vet potential buyers just as carefully as buyers vet their businesses.

[00:11:34] Why the best partner is not necessarily the one offering the highest headline price.

[00:13:20] The importance of preparing a company for sale and exploring multiple potential buyers before making a decision.

[00:14:45] What John would do differently if he were selling Legacy Roofing again and what he believes he did right.

[00:16:23] Why an owner's existing attorneys, wealth advisors, and other professionals may not have the specialized experience required for an M&A transaction.

[00:18:56] How John's post-sale experience ultimately led him to create Options to Exit.

[00:22:25] The specialized M&A language and deal terms that can leave first-time sellers at a disadvantage.

[00:25:07] Why Options to Exit aims to increase enterprise value by preparing financials, identifying buyers, and creating a competitive process.

[00:26:55] How the Under Advisement program helps owners who may still be several years away from selling.

[00:32:38] How business-sale preparation can work alongside an owner's personal financial and wealth planning.

[00:35:25] How quickly the M&A market can change as buyers enter, pause acquisitions, adjust strategies, and react to industry conditions.

[00:38:44] Two qualities that can make a company more attractive to buyers: operating without constant owner involvement and remaining focused on what the company does best.

[00:41:54] Why owners considering an exit should evaluate their inner circle of advisors well before beginning a transaction.

3 Things To Remember

1. Preparing for an exit before you are ready to sell can give you more time to strengthen the business, understand its value, and compare potential buyers.
2. The best transaction is about more than the largest headline number; the buyer's strategy, terms, culture, and plans for the company can be equally important.
3. A business with strong processes, capable leadership, limited dependence on its owner, and a clear operational focus is generally easier for a buyer to understand and integrate.

Useful Links

Connect with John Buxton: LinkedIn | https://options2exit.com

Connect with Jason Gabrieli: [email protected] | LinkedIn

Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com)

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