In 2013 Mac Lackey licensed the FC Barcelona name to offer soccer camps and immersion trips to young athletes in the United States.
Lackey grew the business to over $10 million in revenue before accepting a lucrative buyout offer that included various desirable benefits for sports fans.
In this episode, you’ll learn how to:
Distinguish between the market value of your business and its personal value to you.
Piggyback on someone else’s brand equity to grow the value of your business.
Foster solid relationships with well-known brands.
Deploy an unorthodox negotiation technique to get the deal terms most important to you.
Avoid a shady tactic used by acquirers to get your business for a discount.
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More About Mac Lackey
Mac Lackey is an American entrepreneur who has started, scaled and sold six companies (all seven or eight-figure exits).
Mac and his companies have beenfeatured on CNN, The Wall Street Journal, Fast Company, Business North Carolina, USA Today, and The New York Times.
Notable ventures include KYCK (acquired by NBC Sports), Mountain Khakis (acquired by Remington), and InternetSoccer Network (acquired by a division of News Corp/Sky).
He additionally served as a member of the Board of Directors for Lending Tree (NASDAQ: TREE) for over five years and is currently an angel investor in over 50 companies.
Definitions
Due-Diligence: Due diligence is an investigation, audit, or review performed to confirm facts or details of a matter under consideration. In the financial world, due diligence requires an examination of financial records before entering into a proposed transaction with another party. Source.
Earn-out: Earnout or earn-out refers to a pricing structure in mergers and acquisitions where the sellers must “earn” part of the purchase price based on the performance of the business following the acquisition. Source.
Equity Ratchet: A ratchet is an anti-dilution protection mechanism whereby management’s equity stake may be altered on the happening of various future events. Ratchet is provided as an incentive to management, as they are given the opportunity to achieve additional economic compensation. It is provided in the form of additional economic rights attached to the managers’ preferred shares. Source.
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