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.
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 firstname.lastname@example.org.
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 email@example.com
“Carl and his son [Connor] sold me a Sport Clips franchise through their office here [Northwest Arkansas] back in 2002 and I have also sold a minority interest in a pizza business through them so I have been on both sides of their business. You will find them easy to work with. They have a process which they follow that has made them successful.”
-Clete Brewer referring The CBI+Team to a friend and potential client
Carl Grimes has been involved inthe sale of over 600 businesses in his career as a professional business broker and has implemented his selling process with The CBI+Team.
Find out more about his process and how it can benefit your company by contacting our offices at (877) 582-5200 or firstname.lastname@example.org.