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 firstname.lastname@example.org
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.
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.”
To receive free advice on the correct time to sell your business contact The CBI+Team by phone (479)770-8989 or email email@example.com
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.
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 firstname.lastname@example.org.
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
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.”
Thanks for the wonderful comments Laura, the CBI+Team is glad we could help and we look forward to hearing from you again.
Last week the Independence, Kansas Dairy Queen keys swapped hands from Bill and Mary Taylor to Bill Grimes of Grimes Family Restaurants; Stuart Ward was the listing broker and completed this deal for The CBI+Team in Joplin, Missouri. Other CBI+Team offices are located in Springfield, Missouri as well as Northwest Arkansas and Fort Smith, Arkansas.
After over 40 years of devotion to Dairy Queen, both as employees and owners, the Taylors are looking forward to retirement. Located off highway 75 and next to an extraordinary park, this Dairy Queen is an ideal spot to stop and enjoy a refreshing drink, meal, and ice cream. Since upgrading to DQ’s “Chill ‘N Grill” operation and acquiring adjacent real estate for more parking, this venue has experienced record sales months. With the help of new manager, Brent Littleton, it will continue to grow and serve its loyal customers in Independence, Kansas and surrounding areas.
Looking for experienced owners to take over your business? Call The CBI+Team and let us find qualified buyers. (877-582-5200)
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.
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
Less than a year ago Laura Reuther, owner and founder of Datakeepers Technologies of Lebanon, Missouri contacted Carl Grimes of The CBI+Team and expressed interest in selling her unique, niche educational software company.
After having an independent, third party, certified business appraisal done to help Laura establish a framework for the value of the company, the CBI+Team listed the business for sale and took it to the market.
The advertising and marketing conducted by The CBI+Team produced over 125 interested parties. Allen Lindley of the Springfield, Missouri office of The CBI+Team, began pre-screening the various parties. The Datakeeper listing attracted international attention in addition to USA-based companies.
Very quickly three offers were made on the business, one of which was from a successful entrepreneur from Houston, Texas. After due diligence including face to face meetings between the Seller and Buyer and a meeting with the national organization that supports Datakeepers, the deal closed successfully for all parties.
Laura will remain on with the Buyer for a period of time as a consultant and will collect royalties for a specified period of time.
If you have a software company that you’re thinking about selling, contact Carl Grimes of The CBI+Team at (877) 582-5200 or email@example.com and we will help you begin the process of preparing your business for sale so it can be presented to hundreds of potential buyers utilizing the proprietary CBI+Team marketing plan.