Built to Sell Radio Ep 490 Exit Story: How a Middleman Built and Sold a $19M Distribution Business
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Apr 18, 2025 Sean McAuliffe, a former house painter turned entrepreneur, shares his incredible journey of building a $19 million distribution company for replacement car keys. He reveals how a simple client complaint led him to discover a lucrative niche by sourcing keys from Asia. McAuliffe dives into the complexities of managing inventory, understanding pricing differences, and the unexpected offer from a private equity firm. He also discusses the shift from traditional keys to digital solutions and reflects on personal growth during the challenges of selling his business.
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Unexpected Start in Key Distribution
- Sean McAuliffe stumbled into the key fob distribution business by chance after years in sales and repair.
- He discovered cheap keys on Alibaba and started selling them to locksmiths, creating a niche business.
How Car Keys Are Replaced
- Car key replacement involves blank keys plus configuration to the vehicle's system.
- Locksmiths or dealers cut keys then program them to the car to ensure security and functionality.
Basement to Million Dollar Sales
- Sean started by selling keys on eBay from his basement, shipping small orders himself.
- Locksmiths began buying directly, prompting him to build a wholesale business.
