Thinking about what’s next for you and your family? Maybe you are evaluating your
options and aren’t sure what path to take. You have worked hard to create the unique market you have, and you want to create financial stability for you and your family’s next generations.
Maybe you want to expand, but you don’t have the resources or even desire to take it to the next level. But at the same time, you want to ensure your legacy continues after your hard work as opposed to your market being redeveloped into something else entirely. Or, perhaps you simply have owner fatigue after many years in the business.
It’s hard to know what path to take when this has been your focus for so long, especially if your financial needs and life goals have changed. United Flea Markets helps create a path forward—from unlocking your market’s value to helping you ultimately realize the dreams you may have.
We welcome an opportunity to discuss short- and long-term goals with flea market owners who are entertaining exit opportunities now or in the near or distant future.
United Flea Markets is nimble and understands that each transaction has its own nuances. We respect family legacies, multiple ownership structures and owners’ emotional attachments to their markets. Therefore, we’re always focused on creating a streamlined closing process that respects the needs of each seller.
We place as much emphasis on a smooth transition as any other part of the sales process. If necessary, we can adjust timing and structure to work for the seller, and we recognize change takes time and can be a challenge for market owners, employees, buyers and sellers.
As a seller, what can I expect throughout the acquisition process?
United Flea Markets recognizes that selling is not just a business decision, but in many cases a personal one as well. Please know that the entire United Flea Markets team will demonstrate strict confidentiality, a high level of professionalism and sensitivity around the history and emotional attachments most owners have. We understand that while all parties are working towards a sale, you still have a business to run. The United Flea Markets team has deep experience in the acquisition process and is committed to making communications as transparent and streamlined as possible.
We know United Flea Markets can close within 90 days of an executed purchase agreement, but is there flexibility around timelines?
United Flea Markets understands that life happens outside of the work world. While our nature is always to work efficiently, we can adjust a timeline as necessary for both buyer and seller.
What can we expect to deal with during the due diligence process?
United Flea Markets has a streamlined due diligence process developed over many years, as the entire process takes no more than 60 days. Due diligence falls into three main categories: (1) financial, (2) operational, and (3) physical. Once the purchase agreement is signed, we send you a preliminary due diligence schedule and document request list and work with you to finalize the schedule based on your timing concerns. United Flea Markets and our third-party advisors are well aware of and respectful of the need for total confidentiality and the avoidance of disruption to the market. We perform the bulk of our necessary diligence on non-market days. Early in the process, we initiate the longer lead-time items that are performed by our third-party advisors, such as environmental and structural issues (if necessary), as well as survey and appraisal. United Flea Markets performs its own operational and financial due diligence.
What happens to my employees after an acquisition?
United Flea Markets values each employee as one of the most important factors in a smooth transition and operation of each market. Our goal is to retain all existing employees at every market in the United Flea Markets family, along with the special character of each flea market shopping experience.
How do we manage communication to buyers, vendors, employees and the community?
We work directly with market owners to ensure that a cohesive, genuine and informative message is communicated to everyone. Our whole team recognizes that change can be unsettling, and United Flea Markets strives to minimize any and all distractions to the business.
What can our buyers, sellers and employees expect after the sale?
In the short term, we will focus on a smooth hand-off from current owners to United Flea Markets, and business will be managed much like it has been in the past. Over time, we will invest in property improvements and technology enhancements—making each market’s experience the best it can be for shopping, entertainment and working.
Who will be in charge of the market?
Each market in the United Flea Markets family is led by a general manager. The General Manager is responsible for and empowered to make the best decisions for each market with the support of the field service department that is based in Denver.
Will the name of the market change?
No. United Flea Markets recognizes that every market has an individual and local identity. We typically refresh each market’s logo for consistency, but we keep the community flavor of each flea market intact. With this in mind, we work hard to maintain the small-business culture while providing large-company resources to ensure the future success of each market.