IBA, as the premier business brokerage firm in the Pacific Northwest, is firmly established as a respected professional service firm in the legal, accounting, banking, mergers & acquisitions, real estate, and financial planning communities.  Periodically, we will post guest blogs from professionals with knowledge to share for the good of owners of privately held companies & family owned businesses. The following blog article has been provided by Andrea Lines. Ms. Lines is a senior business broker at IBA (www.ibainc.com):

Selling a Woman Owned Business using a Female M&A Intermediary

When I first ventured back into the work force after taking a long, cherished sabbatical to raise my three children, I quickly realized that being a woman in a predominately male dominated industry came with unique challenges.   That said, the way I see it challenges create opportunity which in turn create experiences – good and bad. These experiences in the world of business brokering have made me acutely aware of the need for female representation, especially when it comes to women-owned businesses. Selling a business can be an emotional and complex process, especially for women entrepreneurs who have poured their hearts and souls into their life’s work. Challenge accepted.

According to Forbes, there are over 14 million women owned businesses in the United States which attribute to $2.7 trillion in revenue and employ close to 12.2 million people (https://www.forbes.com/sites/rhettbuttle/2023/10/30/the-economic-impact-of-women-owned-businesses/). Impressive statistic, right?  We are woman here us roar. https://youtu.be/ZrVLL7soS1U?si=Cm9IZae-AzRvQ8La  Despite these numbers, women entrepreneurs still face distinct challenges as business owners.  They are typically juggling multiple roles both at home and in the workplace as caregivers, carpool champions, CEOs, managers and thought leaders. All while navigating a traditionally male dominated space; business ownership.

When the time comes to sell their business, it typically is not simply about the financials for women – it’s about their personal identities wrapped up in their business, their employees and clients, and the legacy they have built. As a female business broker, I understand these intricacies and feelings. I understand that this will not simply be a transactional situation but a life transition. One of the most rewarding aspects of being a woman business broker is the opportunity to build trust with my clients. Women tend to communicate differently. We value relationships, empathy and understanding. This translates into smoother negotiations and a more comfortable selling experience for the business owner. I have found that the female business owners I have represented appreciate that I listen to their concerns without judgement, allow them to be vulnerable, and work with them as a partner to reach their goals.

All this said, please understand I very much value the work and the transactions I have professionally facilitated as a M&A intermediary for my male entrepreneurial clients. I have simply come to realize women business owners appreciate being represented and walking through this life transition with a female by their side.  I have, in addition, found that it is not uncommon for female entrepreneurs to surround themselves with a same gender group of professional advisors (Attorney, CPA, Banker, Insurance Broker, Wealth Advisor, etc.).  Broker Note:  If you are a female entrepreneur who wants a referral to a professional resource, female or male, know I have a robust Rolodex of vetted, quality people that I am happy to introduce you to, and always looking to add more people to my professional network.  It definitely takes a village to be a successful entrepreneur or sell a company with knowledge, experience, and skill.

I have also come to recognize that women really want to lift each other up and bask in each other’s successes – big or small. Just last month I got to raise a toast with a client whose business had closed that afternoon. The next day she sent me a text with a picture of her daughter and the fort they had built and the text read “my new boss”. It made me beam with pride that I assisted her in reaching her dream job.  The motivation for sale is not always 100% financial, it can also be retirement, freedom, a change in career path, or sending a child, the business you have created, off to college recognizing you have taken it as far and high as it can achieve under your tutelage.  I am happy to be a resource and help you strategize for a business sale in 2025, 2026, or 2027. The first cup of coffee is on me.

If you have questions relating to the content of this article or the process associated with selling a business, Andrea Lines would welcome the opportunity to talk with you. Ms. Lines focuses her professional practice on the representation of woman owned, healthcare, education, and beauty industry companies.  Ms. Lines can be reached at (425) 454-3052 or andrea@ibainc.com.

IBA, the Pacific Northwest’s premier business brokerage firm since 1975, is available as an information resource to the media, business brokerage, mergers & acquisitions, real estate, accounting, legal, and financial planning communities on subjects relevant to the purchase & sale of privately held companies and family-owned businesses.  IBA is recognized as one of the best business brokerage firms in the nation based on its long track record of successfully negotiating “win-win” business sale transactions in environments of full disclosure employing “best practices”.