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PLANNING
It’s a Great Time to Buy …
It’s a Great Time to Sell …
By Nancy Arnold
You wouldn’t think that now is a good time to buy or sell a business. However, even in the midst of a recession the timing
might be just right, creating an opportunity for small business owners looking to retire and inspiring entrepreneurs looking to
control their future.
At ICED, we’ve had a working relationship with the Sunbelt Business Network for several years to help our center owners
with the process of selling their centers. Sunbelt is the largest business brokerage network in the world with over 250 offices
worldwide, with dedicated and experienced brokers throughout the world.
Terry Kelm, the national sales manager for the Franchise Resale division of Sunbelt, understands how to sell franchises, and has
conducted several workshops on selling your business for our ICED family. He is always available to counsel with owners as you
plan your exit strategies.
Richard Smetana is a successful Sunbelt business broker in California, where he and his associates represent sellers and buyers
throughout East Riverside County, the Coachella Valley, and Palm Springs area. One might assume from media reports that
California would be a lost cause for owners of businesses wanting to sell.
However, Richard tells a different story in an article he wrote for The Public Record, a business and public affairs newspaper
focused exclusively on the Coachella Valley. Richard graciously granted us permission to share this article with you. z
It’s a Good Time for Small Business,
Despite Economic Woes
By Richard Smetana CBI CBB, Palm Desert, California
Why it’s a Great Time to Buy
Existing business owners want to increase their revenues
by buying similar or compatible businesses. The most
efficient and economical way to expand is to buy an existing
business, especially if it is one of your competitors. For
example Western Pump Inc. is a fully integrated, petroleum
and lubrication systems firm in Southern California
specializing in the construction and servicing of fleet fueling
facilities, aviation, retail service stations, convenience stores,
marinas, and vehicle maintenance facilities. Their main
office is located in San Diego and they wanted to expand in
the Coachella Valley. They purchased Boen Service Station
Construction & Maintenance Inc. which was doing similar
work in the Riverside and San Bernardino counties since
1975. Boen was represented by Sunbelt Business Brokers
Coachella Valley and Sunbelt contacted Western Pump and
brokered the acquisition.
14 PARTNERS Fall 2010
More sellers are willing
to consider seller financing.
If you have had difficulty
getting a traditional bank
Richard Smetana
loan to buy a business, seller
financing could be an option
to discuss with your broker and the business owner. Seller
financing differs from a traditional SBA loan because the seller
essentially extends credit to the buyer against the purchase
price of the business. This allows more flexibility with payment
options, which is good news for the buyer.
Baby Boomers are retiring. For many boomer business
owners it is retirement that is driving them to sell, not the
economy. In fact, sellers looking to retire are choosing to sell
while their business is showing a profit – showcasing that,
despite the economy, their business is going strong.
In contrast, some baby boomers who are retiring (or
being retired) from their corporate America jobs are looking