Designer/developer Calvin Froedge might have built his business, Creative Logic Media, on a base of great web projects, but by the time he landed a large programming gig in 2010, he knew what he wanted.
“I started Creative Logic Media over the summer when I was 16 … selling websites to local businesses,” he says. He built the business over the next few years, but when he landed the programming gig, he decided to sell up.
The buyer, Adam Radly, is a serial internet entrepreneur and investor. “I’ve bought approximately 15 large business priced at more than $1 million and countless micro businesses priced below $100K,” he explains.
“I was planning on starting a new business to offer these services but came across this business on Flippa and decided to buy it instead.”
Given his history, it’s no surprise that Adam needed what he describes as “a lot more info” than most site sellers usually provide—even on Flippa. Adam admits that Calvin “spent months working on straightening up the books, auditing the financial statements, etc. to make all of the accounting more professional.”
“It was a big eye opener to how the business world expects you to do business,” Calvin adds. While he had a great portfolio and loyal clients, it was the financials that really sealed the deal. With the additional information in hand, Adam felt comfortable with the business’s position.
Building trust was an important part of the process for both parties. “The sale process was fine,” Adam explains, “because the seller and I took control of the situation and addressed each other’s concerns.”
For Calvin, one of those concerns was around the fact that this was his baby—a business he’d worked to build with real, live clients, over a period of years. But, he says, “I wanted and needed to let go in order to move onto other things I was more interested in.”
Today, Calvin’s pleased with the way things have turned out. Adam’s just hired a team member to run the business, and has plans to grow Creative Logic Media to include online video production, SEO, and social media management services.
And both have other projects on the boil. “I’m working on two other startups,” Adam reveals. “One is an ecommerce business focused on the “green” world, and another will be a major review site.”
For Calvin, a regular income as a programmer hasn’t stopped his aspirations as an internet entrepreneur. “I just built LumberHandling.com to help my family market their lumber handling equipment,” he says, adding that he’s also built a payments system for the CodeIgniter web framework, which allows users to use one API to communicate with multiple payment systems.
“You can find out more at calvinfroedge.com,” he says. “I’m also working on MangoReservations.com … and People2Remember.com.”
Sounds like we’ll be seeing more from both of these internet entrepreneurs real soon.