When Scott and Darren purchased Luxe Home Interiors from Mike Lenz 14 years ago, they had no idea what a significant impact he would have on their journey. Owning Luxe for 13.5 years, Scott reflects on Mike's invaluable assistance throughout their ownership. "Mike has been a tremendous help to us over the last 13.5 years. His fantastic communication skills and incredible breadth of knowledge and experience have been indispensable. Honestly, I can't imagine anybody else doing it quite frankly," Scott shared.

Recently, Luxe was sold to three dedicated employees, one of whom was with the company when Scott and Darren first acquired it. Elaine, with 22 years at Luxe, Janine with 10, and Filipe with over a year under his belt, were natural successors. "It was so great for us to pass the baton to veterans because they helped build it," Scott expressed.

The decision to sell Luxe wasn't a spur-of-the-moment choice. Scott and Darren approached Mike almost six years ago, ready to sell. However, a series of unforeseen events delayed the process. "We got notice from the landlord that they weren’t going to renew the lease, and we had to move," Scott recounted. Mike's advice was clear: "You cannot sell without a secure location." This led to putting the sale on hold.

Then came COVID-19, bringing more delays. After finally securing a new location and getting back on track, the sale process resumed. "Mike was incredibly patient through it all. We started the process several times, and each time we had to stop, I felt bad because he put in so much effort without immediate results. I thought, we have to sell this thing someday."

Selling a business is no small feat, and the team purchasing Luxe were first-time buyers. "Mike was very patient with their endless questions and the involvement of their spouses, which often complicated things," Scott noted. "We left it up to Mike to handle all the negotiations, and he managed it brilliantly."

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Advice for Other Business Owners

When asked what advice they would give to other business owners considering selling, Scott emphasized patience and the importance of a business broker. "Be patient. Definitely use a business broker—I can't imagine not doing that because there are so many steps involved. And be prepared for it to take longer than you think."

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Plans for the Future

As for future plans, Scott is looking forward to some well-deserved rest. "Plans are to have no plans for a while, relax, and assess what my next move will be. I'm still working in transition with the team, slowly pivoting myself out. It's fun to see them take over and tackle new challenges. I want to rest, sleep, and enjoy the summer while thinking about my next adventure."

Adjusting to this new phase took some time. "It took me a few weeks for it to really click. Now, I don’t wake up thinking about Luxe anymore. I used to check the US exchange rate the second I woke up. It's so strange, I actually slept for 11 hours recently. I thought, am I dying? You don’t realize how busy your mind is until you stop. As an entrepreneur, there are always more things you can do."

Scott is already giving back to the community, volunteering at an elementary school, and empowering people one-on-one after completing a life coaching course.

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Final Thoughts

Scott and Darren's experience underscores the true relationship between sellers, buyers, and the broker. Throughout this 14-year journey, real friendships were built.

"Working with Mike was an absolute pleasure. The nice thing about Mike is that he’s skilled and knowledgeable, but he doesn’t take it too seriously. He keeps the process calm and level, which is absolutely needed because the seller and buyer sides can get very intense. Having Mike there to remain calm and guide us was ideal."

In the end, the sale of Luxe Home Interiors is a testament to patience, expertise, and the importance of having the right support when navigating the complex process of selling a business.

We want to extend our heartfelt thanks to Scott for sharing his story with us. Stories like his are exactly why we do what we do. It's often a long journey, and guiding people to reach their goals is what drives us every day. We genuinely care about each client, and by the time our work together is done, we hope you'll leave with lasting friendships.