50% Of Deals Fall Out: Coffee/Tea Store Back On Market

I always advice business owners who are in escrow or in the "contract phase" of selling their business to make sure they have back-up buyers since 50% of all deals fall out.

Case in point is owner Lance Meade who thought he had his niche coffee/tea store "sold" when the buyer backed out at the last minute. He now realizes he should have paid more attention to buyers who had expressed interest before the deal went into and during escrow.

His business is back on the market:

http://www.bizben.com/listings/98518.php

A lesson for business owners, business brokers, and agents: Never ever think you have the business sold (until you have a closing check in hand) - always take back-up buyers even during the escrow process - you never know when a deal will fall out!