How a Label-Making Business Sold for $12 Million: Mabel's Labels

Hosted by Simon Bedard, founder and managing director of Exit Advisory Group and author of Exit Like an Expert. Buy Grow Sell EP97. Published September 2023.

The short answer

Julie Cole shares the 14-year journey of building Mabel's Labels from a co-founder idea to a $12M sale, including the growth strategies, communication disciplines, and exit planning that kept a co-founder team aligned through the full process.

Key takeaways

The pros and cons of having co-founders
The foundations of building strong EBITDA
The best way to deliver the “I’m selling the business” message to your staff
Julie’s negotiation that added $100K + to the selling price

Listen to the podcast

45 min

Watch the full interview

About this episode

From making labels in a basement with three other moms to a 20,000 square foot facility with 60 full-time staff, Julie Cole and her three co-founders built Mabel’s Labels from the ground up – literally.

This mom of six helped identify a market need, tap into the right channels to build their brand, and secure a $12M acquisition with a buyer who kept the staff, culture, and identity of the business.

Julie’s story showcases the risks and rewards of co-founding a business – especially with relatives. She shares how to navigate the potential pitfalls of shareholder agreements, ensuring your business is adequately managed – and walk away with some stellar parenting tips to boot!

Chapters

2:14Julie was one of four co-founders, all related. These four moms juggled jobs, day care, and maternity leave while making labels in a basement
8:57Thinking about opening a business with co-founders? The best thing you can do is get a shareholder agreement
14:00Julie strongly believes you should know what your plan for exit is as it will help frame how you manage your business
21:58After being in business for 14 years, the quartet received an out of the blue call from big label company, Avery. It took five months from the first dinner to close
35:43Keep your house in order, so you don’t lose anything on the table and risk having your buyer walk away. This is the golden rule of M&A

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About Julie Cole

Julie Cole is a recovered lawyer, mom of six, and co-founder of Mabel’s Labels.

Julie is an award-winning entrepreneur, best-selling and award-winning author and media personality, having appeared on NBC’s The Today Show, CNN, HLN’s Raising America, Breakfast Television, The Marilyn Denis Show, CP24, and CityLine, among many others. Her articles have appeared in The Huffington Post, Today’s Parent, The Globe and Mail, Profit Magazine, Working Mother Magazine, and numerous websites.

Julie’s awards include RBC Woman Entrepreneur Award for Excellence in Entrepreneurship, PROFIT/Chatelaine W100, PROFIT 500 list of Fastest Growing Companies, RBC Woman Entrepreneur Momentum Award, Iris Entrepreneur of the Year Award, and many more.

When Julie is not juggling her busy family and professional life, she is an engaged community member serving on boards and volunteering. She is passionate about women’s issues, mentoring young entrepreneurs, and social justice.

Connect with Julie Cole

About the show

Buy Grow Sell is hosted by Simon Bedard, founder and managing director of Exit Advisory Group, a boutique mergers and acquisitions advisory firm that helps Australian business owners value, prepare for and navigate a sale. Every conversation draws on real deals and the patterns behind them.