For years, Bob Lepper ran a successful day school for middle and high school students with social, emotional and learning challenges. Students with these types of challenges often experience difficulty in school and wind up in residential treatment programs, where they are usually limited to vocational training.
Lepper, who had already worked with vulnerable youth for more than 20 years, wanted to give them the chance to both live at home and take classes that would prepare them for college and a host of different career options. From the school’s founding until the time Lepper sold the school and retired, he did just that.
After building an excellent reputation for his school for more than a decade, Lepper retired and sold the business. He obtained a business valuation, ensuring that he got full price from the buyer, and successfully navigated the negotiation phase with help from a broker.
SCORE mentor Don Wheeler advised Lepper during the growth phase of his business and was there for him during the sale as well. Wheeler encouraged Lepper to obtain a business valuation, introduced him to and helped him interview several brokers, and offered his view on contract terms and conditions once the buyer made an offer. Wheeler also helped Lepper think through his options when there were some final sticking points before smoothly closing the sale.
Lepper says of selling his business: “If you’ve never done it before, you don’t know what questions to ask. That is where Don came in so instrumental. You learn what questions to ask as you go through it.”