2018 Annual Report

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Blog|4–5 MIN READ

2018 Annual Report

by Clint Fiore


We had a wonderful 2018 and are already full steam ahead into our new year, but we wanted to take a moment to thank God and thank all of our friends and clients for what happened this last year. This will serve as a Q4 report and also a 2018 year in review summary. We continue to commit to transparency and sharing our progress on this journey as we go into 2019.

Q4 2018 (Oct-Dec) highlights:

  • Our 2nd Annual Pitch Day in October was a huge success. We had a packed theater and 7 amazing entrepreneurial teams pitch to a room full of angel investors in Kerrville. This event is becoming a major opportunity engine for Kerr County and the surrounding Hill Country. Thank you to our major sponsors Kerrville Chamber of Commerce, Texas Hill Country Bank, Number Crunchers Bookkeeping, and all the prize sponsors of our huge prize packages for the winning pitch teams. It was a team effort and our staff did a great job organizing it!



  • Christmas Party! We had a family-friendly Christmas party and invited everyone out to the office for a wonderful meal catered by our friends at King’s Texas Smokehouse. Games were played, white elephant gifts were exchanged, and a lot of our families from the Kerrville and San Antonio offices got to meet and hang out for the first time. We were amazed that over 50 people were there just from our employees/teammates and their families. It really shows how much impact a small business makes on families when you see them all in a room together. What a blessing!











  • We welcomed a new Producer to the team, Katie Milton-Jordan. Katie is a respected and whip-smart business consultant and business owner herself that decided the synergies between what she knows and does and what our company is doing could not be ignored, so she joined us!



  • Breaking Financial Records! We recorded our biggest financial quarter ever thanks to a strong finish in December with several closings stacked at the end of the year. More on that below.


Now let’s jump into some nerdy details!

Financial Results:

Closings this quarter:
1) Dry Dock Oyster Bar, San Antonio

2) Kass Autobody, Kerrville (Business and Real Estate)

3)  Tree Service Business in San Antonio


These 3 Closings Bring our total cumulative transaction volume over $19,000,000!



We recorded a record quarterly revenue of $351,237 which put us over a million annually for the first time! Only 4% of small businesses ever make it to $1,000,000 in revenue and we’re so proud to have done this in our third full year of business.

Here’s what our quarterly revenue looks like since inception. As you can see, we’re starting to be a little more consistent as our transaction quantity increases and our recurring revenue from bookkeeping services continues to help smooth things out.





Here’s what our Q4 2018 Revenue breakout was by percentage:


Here’s our annual revenue since we started to put that in perspective. If we continue this pace, we expect to be an Inc 5000 company within the next two years!


Our Three Core Key Performance Indicators (KPI’s)- update for 2018

(The Three Measurements We Always Seek to be Best at in Our Industry)

All-Time Historical Percentage of Asking Price Received at closing on our conforming deals improve from 96% to over 98.28% this year.  These are our bread-and-butter deals where the owner is making at least 100K and we’re able to price them based on earnings. We’re proud of this record and can tell owners of good, profitable companies that we can confidently get them the numbers we say we can. Some deals we go to market without asking prices when appropriate, but when we hang an ask, we’re good at getting it.


Success Rate which we consider how many companies we successfully sell to new owners versus how many conforming deals we lose for any reason (contract expiration without selling, deal falling apart and not coming back, company closing/liquidating etc). We believe we are the only brokerage to share this number publicly. With 10 winning closings and zero losses in 2018, our record for 2018 was 100%, a perfect 10-0, and our historical success record improved to 24 wins and 1 loss. In the real world that means, if you have come to us with a quality company, ready to sell, we have a 96% chance of getting it done.


Selling speed did slow down a bit in 2018. We had some deals carry over from 2017 that lost buyers and had to be matched with new ones and seemed to drag on to the end of the year, making our average selling speed for 2018 254 days. Historically, we’re still ahead of our competition with an average time from putting a business on the market to closing the deal of 233 days.


Other Interesting Stats

Our VIP e-mail subscriber count is still holding strong with over 1,200 subscribers and growing by the day. This is our captive list of profiled buyers and referral sources, which is where about half of our buyers come from. We continue to enjoy an incredible 30% open rate on our VIP blast e-mail (Industry normal is 12%) by not over-emailing and sending quality deals out first to the VIP’s, then to the marketplaces.

As a company, we worked like crazy this year communicating with our clients – sending out 3,509 unique e-mails, having 6,189 phone conversations, and 224 client meetings in 2018.


Added a Producer and had a Bookkeeper move on to another opportunity, so overall headcount remains at 12.

Total Team Members: 12

  • Producers: 3
  • Financial Analyst/Appraiser: 1
  • Executive Administrator: 1
  • Operations: 1
  • Marketing: 1
  • Bookkeepers: 3
  • Independent Affiliates: 2


Looking Ahead to 2019

We’re looking forward to an action-packed 2019. We’re starting January with a couple of New Year closings, then it’s busy year-end review time for our bookkeepers and analytical team getting our clients’ 2018 year end numbers all finalized for their CPA’s.

We’re on the hunt for more Sellers of businesses at the moment since we’ve had a lot of closings, brought on a new Producer, and have over a 1,000 cash-in-hand Buyers looking for deals, we would appreciate it if you’d keep us in mind if you know of an owner thinking of retiring or cashing out to do something else. Also, we pay generous referral fees to our finders.

We are also working on an innovative buy-side representation program we plan on launching this spring so stay tuned to our website and social for that announcement.


End of Report

Thank you all for reading, and we wish you a blessed and prosperous 2019!

-Team Texas Business Buyers




(If you have any questions about this report or have anything you’d like to see included on the next report, feel free to e-mail your suggestions to [email protected])

Published January 8, 2019

Topics: Blog

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