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Amusement Company Servicing Joplin Metro Area Sold!

An amusement company that services locations in Kansas and Southwest Missouri has transferred ownership with the help from Stuart Ward, Associate Intermediary for The CBI+Team in Joplin, Missouri.

The owners started the business in 2003 and grew it into a very successful, profitable company. Although it only required one employee to service and maintain the equipment the owners decided the business was outgrowing their desire/ability to take it to the next level. With someone else at the helm to devote the effort necessary to increase the growth they felt it should grow tremendously.

Soon enough a prospective buyer was discovered and Stuart Ward connected him with the sellers. After going over the details extensively to structure this transaction a deal was made and ownership of the business exchanged hands.

The CBI+Team has confidentially sold many different types of businesses in its 18 year history. To learn how we can help sell your company contact the CBI+Team by phone (479)770-8989 or e-mail info@cbiteam.com

Very Unique Home Based Business Sold!

SOLD: NWA Attention to Detail

From left to right: Ray and Donna Feyen (buyers) and Trish Dossett (seller)

NWA Attention To Detail, a one of a kind opportunity, was sold yesterday thru The CBI+Team and one of its intermediaries Jon Holbert. Unique, profitable businesses don’t take long to sell and in this case the company was prepared, listed and sold within a month.

Owner Trish Dossett built an amazing business she operated part-time from home that’s making over $100,000 annually, but has created another start-up that she wants to divulge more time developing.

After making the decision to sell her business, Trish visited a business broker in the area and quickly found out they were looking to help themselves and not her.

She used Google to search for other business brokers and found The CBI+Team in Lowell, Arkansas. Her comments on that initial meeting were: “The moment I walked in, I was greeted and welcomed by everyone in the building. My broker, Jon Holbert, walked me thru The CBI+Team selling process of my company step by step and explained everything to me in detail and simplicity. He showed an excellent knowledge in his line of work, and followed thru with all he promised” and “that’s just something you don’t get much of these days.”

NWA Attention To Detail was then listed for sale and quickly appealed to many potential buyers because of its profitability, structure and its ability to be home based. Within a week, several buyers were lined up and made their offers. Ray and Donna Feyen were one of those several and became very interested when presented this opportunity and were eager to move thru the process. After their first meeting with Trish an offer to purchase was submitted and accepted by both buyers and seller.

Days later the deal was official completed and all parties walked away happy. Trish left our office with a lasting impression and one last comment: “I would, and already have, recommend CBI to anyone in the business field for buying or selling”.

The CBI-Team thanks all parties involved in this transaction and hopes everyone has a happier holiday because of it.

Why Waiting to Sell Your Business Might Backfire

By EMILY MALTBY

Millions of small-business owners may be delaying retirement to their late 60s or 70s and beyond, in hopes of riding out the sluggish economy and a slump in the sales value of small businesses.

But waiting for the market to recover could backfire, according to some who study small-business valuations. If and when the economy brightens, there could be a hefty backlog of retirement-age small-business owners eager to sell out, competing with newer sellers for the same group of buyers.

“If you continue to hold on another day, that’s another day where several more thousands of business owners turn 65. The market will be flooded for small businesses and the valuation will continue to trend down,” says John Warrillow, creator of the Sellability Score, an online tool to help business owners value their firms.

For those looking to sell their business at the highest possible price in order to retire comfortably, “I don’t think waiting is necessarily the answer,” he adds.

The first wave of baby boomers turned 65 last year, and the growing number that will reach that milestone in the next five to 10 years could compound the problem. “That will make the field enormously crowded,” says Steven D. Popell, an exit-strategy consultant in San Francisco. “The number of companies that will be up for sale in the next decade will increase dramatically.”

Read this entire article by Clicking Here or visit The Wall Street Journal at www.WSJ.com and search for “Why Waiting to Sell Your Business Might Backfire”

To receive free advice on the correct time to sell your business contact The CBI+Team by phone (479)770-8989 or email info@cbiteam.com

Happy Thanksgiving!

The CBI+Team gives thanks for allowing us to be part of your lives, both business and personal. We are thankful for God’s blessings and the opportunity to help people achieve their dreams by helping them confidentially sell and buy businesses. May you enjoy all the blessings of a loving and forgiving God on Thanksgiving Day, a uniquely American holiday.

Local, Successful Start-Up Sold By The CBI+Team

Hidden House

Hidden House

Burt Box (buyer) and Duane Scoggins (seller) complete their deal by exchanging a key and handshake.

With the help of The CBI+Team, Hidden House Products sold from one Arkansas resident to another.

Hidden House Products (HPP) began in Springdale, Arkansas during 2003 when Duane Scoggins saw a need for quality, leather-bound heirloom Bibles. Using exotic leathers such as ostrich, elephant, lamb and alligator skin he made one-of-a-kind products exclusive to Hidden House. In 2007, Duane assumed responsibility for his family’s insurance agency and has had very little time to devote to this business. HHP continued to perform well, however, and has incredible potential for an owner who is able to focus on marketing and sales.

After speaking with CBI+Team Senior Intermediary Jon Holbert in early 2012, Duane began plans to sell his company. Jon was able to guide him through the listing process and started finding several interested buyers immediately. David Proffitt, another intermediary for The CBI+Team, disclosed HHP to Burt Box and his team at Milver Investment Company. Soon after, both parties were able to meet and discuss more details about the transaction.

On November 19th the paperwork was completed and the business was transferred to Milver Investments, LLC. After the sale Burt Box had the following statement: “Milver Investments is looking forward to using its partnership with marketing firm Livewire Strategic Marketing to build on the solid foundation that Duane has established.”

No matter how large or small a business is people are looking for good investment opportunities, allow The CBI+Team help connect you with buyers. Contact us at (877) 582-5200 or info@cbiteam.com.

Death Takes Business Owners

Two business owners with whom we were working to sell their businesses died within 2 weeks of one another. Both were still working in their businesses and trying to sell. Both were in their 70’s and had been in ill health.

Both had listed their businesses for sale within 8 months of their deaths. Both left widows behind who are trying to figure out what to do with the assets, employees, customers….it’s a nightmare.

The CBI+Team did our best to help but were limited by time and lack of organization and declining revenues of the businesses due to the ill health of the two principals.

Lesson: Don’t think that you will run your business forever, you won’t. Don’t think selling it is a six month process. Start planning to sell at least 24 months before you HAVE to sell.

Don’t die in your business and leave your spouse with a nightmare. Call us today at 877-582-5200 and we will

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help you plan an orderly exit.

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.

Auntie Anne's & Rocky Mountain

Pictured from left to right Bob and Irene Phillips (sellers) Regina and Kerry Laman (buyers)

ServiceMaster agrees to sell to ServiceMaster

Service Master

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

2012 Excellence in Business Awards

Pictured left to right: Derek Heil, Gary Patterson, Carl Grimes of The CBI+Team, Steve Clark (executive director of the Fayetteville, Arkansas Chamber of Commerce) and David Proffitt of The CBI+Team

The CBI+Team was a major sponsor of the 2011-2012 Excellence In Business Awards presented by the Fayetteville (Arkansas) Chamber of Commerce.

CBI+Team President Carl Grimes said, “Small business is the backbone of the American economy and we want to actively participate in recognizing significant achievement by the hard working men and women and families who owner and operate businesses in the regions we serve.”

Award winners were:

Best Entrepreneurial Business : Fly-N-Hog Media Group, Inc

Best Green & Sustainable Business : Haas Hall Academy

Best Large Business : Mitchell Communications Group, Inc.

Best Minority/Woman Owned Business : MailCo USA, Inc.

Best Small Business : Joyce Street Storage

Best Start-Up Business : Smith Hurst, PLC

Best Not-for-Profit (2 Winners) : Single Parent Scholarship Fund of NWA

Washington Regional Hospice

Seller’s Feedback

Former owner of Datakeeper Technologies, Laura Ruether, speaks about the experience with The CBI+Team and how operations are running after selling her business:

“THINGS ARE GREAT!  Jeff, the new owner, has strengths everywhere I had weaknesses and we get along great and video chat daily.  He has done everything he said he would do and fallen short in nothing.  He has hired a new support person and I have trained her and I am already out of the support business and just doing the training and design as I wanted.  I’m just about to go ‘part time!’  We hired and trained a new programmer and we have implemented several new processes that will ensure we are competitive for years to come.”

“I fully anticipate the new owner will do even better with revenue this year than I had projected.  We have gotten National Center to extend our agreement for several more years and are now the exclusive and only recommended product in our market.  The National Center will soon be ‘mandating’ everyone use our software and this should greatly increase our revenue.”

“Thank you for your assistance in the entire sale.  While things never go smoothly in a sale of this kind, the first offer falling apart ended up being a major blessing in disguise as those people did not have the expertise of my final buyer.”

-Laura Ruether

Thanks for the wonderful comments Laura, the CBI+Team is glad we could help and we look forward to hearing from you again.