As part of our ongoing series of reviewing online brokerages and marketplaces, we chatted with Mark Daoust, CEO of Quiet Light Brokerage, and asked him about all about Quiet Light, including their origin story, the businesses they sell, their vetting process, and more. Here’s the breakdown:
What’s the story with Quiet Light? How’d you guys get started?
Mark: Quiet Light started in 2007 after I went through an exit of my own online business and experienced first-hand how brokers often treat their client’s businesses like inventory that simply needs to be processed and moved. Online entrepreneurs needed an advisor who had been in their position in the past, but who also understood how to run an acquisition process that maximized the value of their businesses.
What type of web businesses do you specialize in?
Mark: We work with all business types and sizes. All of our advisors have experience as entrepreneurs and operators from SaaS to eCommerce/FBA to content sites and everything in between. We typically work with businesses ranging from $250k to $25M for an exit.
What type of financing options are available to buyers?
Mark: On smaller transactions of less than $5 million, SBA is a popular option. Many buyers like to incorporate some element of seller financing, although many sellers are not open to seller financing and the market often pushes stronger cash offers to the forefront.
What kind of vetting do you guys do for businesses you list?
Mark: An offer that falls apart during due diligence is a bad offer for our clients. Because of this, we do vet our client’s listings thoroughly be doing an in-depth financial review, as well as an in-depth Q&A with our clients that is designed to surface any potential issues before we get to due diligence.
Anything unique about Quiet Light that most other online business brokers don’t have?
Mark: All our advisors have built, bought, and sold their own online businesses. We are entrepreneurs at heart and know what it’s like in the trenches of building a company. We’ve learned that this first-hand experience of buying and selling and starting a business helps us relate more with someone who is considering selling or buying a business. After all, someone’s business is not our inventory to sell. It’s the product of their hard work, risk, and investment.
Any cool stats about your Quiet Light you’d like to share?
- We have grown every year for the last five years and doubled in size from 2020 to 2021
- 51% of our transactions in 2021 have sold above our asking price
- 47% of our transactions come from referrals
What’s the best way for buyers or sellers to reach you if they’re interested in learning more?
Really appreciate you taking the time out, Mark. Anything else you’d like to add?
Mark: While the marketplace is changing rapidly, the principles behind what makes a business valuable does not change. Take the time to learn what makes your business valuable. Consider picking up a copy of Exitpreneur, a book published by Joe Valley, a partner at Quiet Light.