There are hundreds of buyers in the home services industry — and a lot of them will cut you a check. But knowing who you’re actually doing a deal with could be the most important decision you make. In this episode, David and Shaun break down the two main categories of buyers — financial and strategic — and what owners considering a sale should realistically expect from each one, before and after the deal closes.

They explain what private equity funds, family offices, and search funds are actually looking for, how equity rollovers work and why buyers want sellers to have skin in the game, and why strategic buyers can often pay more — but come with less flexibility and autonomy. And they tackle the million-dollar question every owner should be asking when considering a sale: what should I care about beyond the money?

The Letter of Intent — or LOI — is one of the first major milestones in selling your business, and one of the most misunderstood. In this episode of Sell Yeah!, David and Shaun break down exactly what an LOI is, what it isn’t, and what you’re actually signing up for when you put pen to paper.

Spoiler: it’s less scary than it sounds. The LOI is a non-binding framework for a deal — but it does lock in one very important thing: exclusivity. David and Shaun walk through all the key terms you’ll encounter, from purchase price and rollover equity to restrictive covenants, confidentiality, and governing law, and explain why a more detailed term sheet on the front end actually makes everything easier down the road.

Everybody wants to know what their business is worth — and in this episode, David and Shaun break down exactly how buyers think about valuation so owners can stop guessing and start preparing.

They walk through the key factors that drive a buyer’s willingness to pay: size, trajectory, customer mix, management infrastructure, key man risk, brand equity, employee base, and operating systems. They also demystify EBITDA multiples vs. revenue multiples, explain why businesses in different industries trade at very different values, and make the case for why handing over a P&L and asking “what’s it worth?” is never going to get you the answer you’re looking for.