Owning an MSP is a big commitment. Not only are you the CEO, but on any given day you are also the HR manager, marketing director and accountant. If you are feeling overwhelmed, you are not alone. Right now, only 40% of small businesses are turning a profit, according to the small business chamber of commerce. Of the remaining 60%, only half are breaking even and the other half are losing money. It’s a difficult situation for everyone, especially businesses like managed service providers with a long sales cycle. If you haven’t built up a financial cushion, your entire business is at risk.
If you are feeling overwhelmed and unsure about the direction of your MSP, you are not alone. 2020 has been a trying year for many small businesses. Many business owners are starting to wonder if they should sell their businesses, and there are many reasons they may be looking to sell. Perhaps one of these reasons resonates with you.
What Are the Benefits of Selling Your MSP?
Selling gives you the opportunity to pull the value out of all you’ve built, instead of worrying about it or potentially losing that value. If you are thinking about retirement, there is no better time than right now. Selling your business generates financial liquidity for you, allowing you to invest in whatever your next chapter may hold, whether it’s another business, property or time with your loved ones.
If you’re feeling hesitant to let go of all that you’ve built, another option to consider is that you may be able to sell your MSP and remain as an advisor or consultant – either on a full-time or part-time basis. Given your existing relationship with suppliers, clients and key employees, this kind of arrangement can ultimately help the buyers ease the transition and can be a win-win situation for both parties.
How Do You Choose Who to Sell to?
If you are like our CEO and owner, Danny Owens, you are proud of what you’ve built and the connections you’ve made with clients. You don’t want to give that over to just anyone. We understand that you want whoever takes over your company to care about your company and clients as much as you do.
You are probably looking for a buyer that will give you a fair price while still caring for and investing in your clients and employees. You may be thinking about selling to a large equity firm, but you know their first priority is profit. They won’t give your company, clients and employees the time and energy that you want them to have.
You may know a few other MSPs, but you wonder if you can trust them. Will they follow through on what they say they will do, or will they pull a bait and switch after the deal is done? When it comes down to it, you are looking for a company that shares your values. That’s where VersaTrust comes in!
At VersaTrust, it’s always been our goal to provide enterprise-level IT practices and solutions to the small business sector with small business prices. For each of our clients, we focus on ensuring the security, stability and efficiency of their IT environment. At VersaTrust we pride ourselves in having Certified Information Systems Security Professional (CISSP) professionals. We offer our clients the assurance that we are taking every precaution possible to ensure their business is secure.
At VersaTrust, we know each business is different, with unique needs, budgets and varying levels and types of risks. We make our clients a priority and we will do the same for you and your clients. We strive to be an indispensable asset to our clients. You can look into our client testimonials to learn more about how we solve problems and make our clients a priority.
We also understand the personal pain points around selling your MSP. It can be hard to move forward, but we are committed to making the transition process as smooth as possible.
How VersaTrust Works with You
We understand that there is a person behind the company, and we want to get to know you. Your values, the people who work for you, your clients and all of the aspects of your company that make it unique. We want to make sure that you’re comfortable with the process and know we respect the blood, sweat and tears that have gone into building your business.
What the process will look like
1. We Talk: We discuss your needs and goals surrounding your business, how our core values align, how the company cultures can merge and what’s most important to you when looking to sell your MSP to determine if VersaTrust is a good fit.
2. We Assess Your MSP: We learn all about your company and the great services you provide. We want to lean about your clients and employees as well. Ultimately, we want to learn about what makes you unique.
3. You Decide if VersaTrust Is the Right Fit for Your Company:
If you decide VersaTrust is the right fit, we start looking at the integration including, reports, values and services in order to make the transition as smooth as possible.
We respect what you’ve built, and we would love to help you, your staff and your customers navigate these uncertain times. Know that everything we discuss will be completely confidential. Schedule a meeting with us, and let’s get started.
Call us at (817) 595-0111 or send an email to .