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Start-up SellMyBusiness.com aims for $10 million in first year

metromode, 8/7/2008

It may seem like the world is becoming a smaller place, but the people behind SellMyBusiness.com are banking on the opposite.

"The world is a much bigger place when you're online," says John Maddox, president of SellMyBusiness.com. "The Internet opens up a world of more buyers."

The Bingham Farms-based specializes on helping people sell their business for more money by opening up the pool of those who might want it. The idea is to help business owners who want to move on get a better return on their investment from people looking for a new venture.

Maddox ran MutualFundTaxInfo.com for eight years before starting SellMyBusiness.com with co-founder Mark S. Lundquist this spring. The company employs four people has another eight contractors on its payroll and is looking to bring in up to $10 million in revenue in its first year.

Maddox and Lundquist are raising money so they can do more marketing. They also plan to take the company international by going after the Chinese, Indian and Japanese markets.

Source: John Maddox, president of SellMyBusiness.com
Writer: Jon Zemke