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
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 Wymans have been avid flea market customers and collectors for many years so when they contacted Jon at The CBI+Team about the Flea Market they saw listed they were excited but apprehensive. They had often wanted to own an antiques/collectibles shop of their own but were not sure they could make the financial arrangements necessary for buying a business. Mr. Holbert utilized The CBI+Team’s national resources and took the time to help them take advantage of their existing assets to make the purchase and to have the necessary operating capital to make it work.
Randy and Carol Jones of Central Fastening Systems in Rogers, Arkansas, had dreamed of moving to the arid New Mexico desert for several years. Vacationing there many times, they enjoyed the wide open spaces and huge vistas. When Carol injured her neck, the low humidity of desert provided comfort from the constant pain so they decided to pursue their dream and move to the desert.
In order to make that dream a reality, they needed to sell the business they started 18 years ago in their garage. Central Fastening Systems is a story right out of the book of American dreams. They started the company with almost no money and even kept their day jobs while they built the company into one of only 13 Master distributorships for Alcoa Fasteners and Huck fastening tools in the nation. With Carol handling the administrative side of things and Randy taking care of the technical details, they built a strong business that provided them with a nice living and the opportunity to retire. So, the question—-how do Randy and Carol go about selling the company?
Mike and Vicky Clifford had been vacationing at Beaver Lake for years and planned on retiring there and building their dream home on the lakefront land they owned there. They currently owned a business in the Kansas City metro area and longed for the simplicity of small town life but were not quite ready to retire. That’s how they decided to relocate their existing business and to buy a local business near their property on the lake to begin working towards the eventual goal of retirement. The question—how do Mike and Vicky find a good business to buy?
The CBI+Team was there with the answers to both questions. David Proffitt, an intermediary with the firm, had spoken with the Cliffords several months before the Jones’ decided to sell their business so when CBI+Team Senior Advisor, Jon Holbert, agreed to help them and listed the business for sale, the match-making process began. On Monday, May 7th, the Cliffords had an accepted offer for Central Fastening and closing took place on Wednesday, May 9th. By the end of the week, both couples were at a conference together in Waco, Texas. The Jones’ wanted to help the new owners by properly and personally introducing them to Central Fastening’s vendors and contacts.
The CBI+Team serves as an intermediary for buyers and sellers of businesses. Many times, even when business owners are leasing their real estate, they are able to sell their business based on its assets and cash flow. Business buyers are looking to buy a business instead of starting one to avoid the costly ramp up time and to have an instant customer base and income. It just makes sense.
As it turns out in this case, The CBI+Team wasn’t just able to provide business brokerage services to the Jones and the Cliffords, they were able to help their dreams become a reality.
Find out how to sell your business for the right price!
Lindsay and Judy South had been trying for over two and half years to sell their successful, profitable health foods and supplements store in Heber Springs, Arkansas, a beautiful resort community on the shores of Greer’s Ferry Lake in central Arkansas.
Once The CBI+Team listed the business the buyer was identified in less than 12 months and closing took place Sunday, December 11th, 2011.
Mai and Kobie O’Neill of Florida saw the ad for the health food store on the CBI+Team website, made the inquiry and then traveled to Heber Springs as quickly as possible to begin due diligence on the store and meet Lindsay and Judy.
Things went well from there and all parties were exhausted, but happy after the inventory and closing Sunday evening. Lindsay said, “The CBI+Team’s ability to help all of us over the problems and rough spots kept the deal going to closing.”
Lindsay, a native of Australia, and Judy, who is originally from Memphis, Tennessee plan on helping the new buyers, Mai and Kobie, get up to speed for the next 45 days and then the Souths plan on continuing to live in Heber and traveling more.
Mai and Kobie have children who are enrolled in Heber Springs schools. They have bought a home and are happily opening their store daily and excited about their future.
CBI+Team intermediaries for the deal were Connor Grimes and Bill Grimes.