Case Study – Kelly Purvis

How Strategic Wealth Helped Kelly Purvis sell her business

When Kelly Purvis started Little Party Dress from her bedroom in 2010, she had no idea how big her business would become. From those early days as an eBay store the business grew until it had its own website, a third-party logistics warehouse, and high turnover. In 2017, realising the business was becoming bigger than she wanted and she was working too much, Kelly decided she needed to scale her business.

A friend referred Kelly to Nick Moustacas at Strategic Wealth, noting Nick had experience selling retail businesses and could help her make important changes to her business.

“Nick was so amazing to work with that I took all my accounts over to his firm,” Kelly says. “He and Janet Fischer were my main contacts there. He mentored me as to what I could do to make the business more sellable, such as getting staff so the business could run without me. I got an office and staff, but always in the back of my mind was to sell the business because I didn’t have the ambition to run a big business, which is where Little Party Dress was going and I couldn’t stop it.”

After a few offers to buy the business fell through, a woman who intended to help Kelly with her inventory became interested in buying Little Party Dress. Nick handled the negotiations for Kelly, and in October 2021, her business was sold. Following a six-month handover, Kelly has essentially been out of the business since April 2022, although she helps with social media and bringing on new staff.

“I’m someone who goes with my gut and my emotions. Nick supported me and I trusted what he told me. He absolutely knew what he was talking about because he has sold businesses before. He showed me a lot of warmth and empathy while giving me great advice.”

In selling Little Party Dress, Kelly says she met her goals of getting the amount of money she felt comfortable with and deserved, and selling to a person who would look after her business. She also wanted a contract that would enable her to leave the business entirely.

“Nick steered me in the right direction for my business and for me. He took into account my goals and what I needed. He was also able to explain things to me even though I really didn’t understand a lot of it. I came from an advertising background, so I had to learn a lot myself. It’s really big that Nick and Janet take the time to make sure I understand everything.”

In addition to selling Kelly’s business, Strategic Wealth has set up trusts for Kelly and helped her with her personal taxes.

“Whenever I’ve needed advice on anything legal, financial, or business related and I go to them, they always have advice, a solution, or someone they know who can help me. They’re a one-stop shop because I know I’ll get great advice in all those capacities. I’ve recommended Strategic Wealth to everyone I can. Nick was a great mentor. He gave me really great advice. Working with him has taken my life and business in a trajectory I didn’t expect and it’s been amazing.”