business sold
SOLD: Two prominent, local franchises!
Two celebrated franchises, Auntie Anne’s and Rocky Mountain Chocolate Factory at the Pinnacle Promenade in Rogers, transferred ownership this past week courtesy of The CBI+Team and Senior Advisor, Casey Grimes!
Bob and Irene Phillips have been the sole owners of the businesses since originally opening them in July of 2007. Casey Grimes was able to find interested buyers in husband and wife team, Kerry and Regina Laman. They were seeking a great business opportunity and decided these were reliable and established businesses in which to invest their time, efforts and money.
The CBI+Team has a proven, successful process for the sale of any business. Auntie Anne’s & Rocky Mountain Chocolate Factory are just two of the well over 600 businesses we have helped sell. To learn more about this process and how it can benefit your business, please contact our offices at (877) 582-5200 or info@cbiteam.com.
Pictured from left to right Bob and Irene Phillips (sellers) Regina and Kerry Laman (buyers)
ServiceMaster agrees to sell to ServiceMaster
Pictured from left to right: Wayne and Judy Bryant (buyers) Vicki and Marshall Henson (sellers)
In a recent transaction, two storied Northwest Arkansas ServiceMaster Clean Franchises came together as one after 10 years of direct competition. ServiceMaster Restoration Northwest, owned by Marshall and Vicki Henson, sold its “Disaster Restoration” division to ServiceMaster by Quality Restoration, owned by Wayne and Judy Bryant. The transaction allowed the Buyer to add Benton and Carroll counties to their exclusive franchised service area of Washington County.
In January of 2012, the sellers used a third-party, certified appraisal to establish an appropriate sale price for the business and in March of this year, hired CBI+Team advisor David Proffitt to confidentially sell the company. Over the next five months, approximately twelve hundred prospective buyers would learn of this opportunity before its eventual sale, yet only one would create the best fit. Sometimes the best and most logical buyer for a business is its closest and most direct competitor.
CBI Intermediary David Proffitt arranged an introductory meeting between the Hensons and the Bryants to formally introduce and discuss the business opportunity in depth. After the meeting, at Proffitt’s direction an offer to purchase was submitted by the Bryants and the Hensons were given a week to accept or counter. In an effort to identify the best possible deal for the seller; David Proffitt leveraged the initial offer by contacting other ServiceMaster franchises regarding the Northwest Arkansas opportunity. Without Proffitt identifying the amount or terms of the original offer, what followed was a lightning-quick sequence of events which included a secondary offer being written by another regional franchisee.
The Hensons were presented with both offers and chose the one offered by the Bryants. Upon acceptance of the offer to purchase, due-diligence was completed and a closing date was set for the middle of September.
ServiceMaster by Quality Restoration will now offer its fire/water/smoke damage restoration services to all major counties in Northwest Arkansas. Quality Restoration owns additional offices in Central Arkansas and in the River Valley area of Arkansas. Service Master Northwest will continue to operate the Janitorial & Commercial office cleaning division in Benton and Carroll counties.
To learn more about how to receive help selling your business contact The CBI+Team at (877) 582-5200 or info@cbiteam.com
Keeping jobs and family entertainment here in Arkansas!
The Fort Smith/River Valley office of The CBI+Team brokered the exchange of ownership for Midland Bowl, the oldest bowling center in Fort Smith, Arkansas. Dawayne Murdock, intermediary for The CBI+Team, handled the negotiations and finalized the transaction between Benefit Bank of Fort Smith and principal Andy Bartholomy. Owner of Bartholomy Bowling Centers, Mr. Bartholomy operates over half a dozen bowling centers in Missouri, Oklahoma, Tennessee, and now Arkansas.
Dawayne Murdock and Andy Bartholomy finalizing the transaction.
Midland Bowl, open since the 1970’s, has been on the verge of closing its doors to the public and to the 25 employees working there. Andy Bartholomy stepped in and made sure that wasn’t going to happen. He’s looking forward to rejuvenating Midland Bowl with his expertise in the family entertainment industry.
Along with Dawayne Murdock, the CBI+Team office in Fort Smith helped complete this sale. Other offices are also located in Lowell, Arkansas; Duluth, Minnesota; Springfield, Missouri; and Joplin, Missouri. Carl Grimes founded the Confidential Business Intermediary Team and its mission statement, “to help people confidentially sell and buy businesses to secure their financial future.”
Contact The CBI+Team to find out how we can help you. (877) 582-8200