Ben Redding, a veteran CFO with experience in venture capital and building software startups, says his new venture, WellScale, can help small- and medium-sized business owners successfully sell their companies. And he says his firm is positioned to meet the coming “silver tsunami” of baby boomers who will be looking to sell their firms over the next decade.
“Despite the best efforts of Business Brokerage firms, and hundreds of white papers, blogs, and checklists created on the topic, the failure rate for first-time attempts at selling small and medium-sized businesses is approximately 80 percent,” says Redding at his WellScale website.
“Our team is building innovative new solutions to create wins for business owners and business brokers, by optimizing company sale preparation.”
His firm “is dedicated to creating “sell-side” solutions to successfully help transition these businesses, via a scalable model of technologies and services.”
WellScale will be participating in the CED Tech Venture Conference on Sept. 19-20.
This profile is the latest in a series written, edited and published by WRAL TechWire in partnership with the CED.
Profile: WellScale Inc.
- Website: http://www.wellscale.com
- Email contact: firstname.lastname@example.org
- Address: 320 Blackwell St #400, Durham, NC 27701
- CEO: Ben Redding
- How many employees? 1 employee, + independent contractors
- Link to CED Tech Venture Company Profile: https://cednc.org/company-profile/wellscale
- What is the focus of your business?
We provide solutions to small and medium-sized business owners and business brokers, to help them effectively complete the sale of their / their client’s company. Our solutions identify and mitigate risks in the sale process, and optimize the chance for a successful sale on purchase terms agreeable to the company owner.
- What is the top pain point/business application you are seeking to address?
The success rate of company sale processes – i.e., the number of successfully closed business sale transactions – is less than 30% for small and medium-sized companies, even with trained transaction advisors assisting in the process. This is a horrible success rate for society’s entrepreneurs seeking to retire or exit on their terms.
- What makes it unique?
The company’s founder – Ben Redding – has nearly 20 years of experience in buying, growing, and selling firms, and working with and for entrepreneurs.
- Why should investors be interested in your firm?
There is a pending “silver tsunami” of baby-boomer business owners (>2.4M US businesses owned) who desire to sell their company within the next decade, transitioning a collective $5 trillion of business revenue to new management. WellScale is dedicated to creating “sell-side” solutions to successfully help transition these businesses, via a scalable model of technologies + services.
- How are you financed at this point?
Self and Friends/Family funded