For Immediate Release
L.A. County Posts 19% Growth in Business For Sale Deals Says BizBen.com Index
Dublin, CA (September 12, 2013) A total of 327 small and mid-sized business for sale transfers were completed in Los Angeles County last month, an increase of 19.3% compared to the 274 deals completed in August of last year, according to the BizBen.com Index. It also reported growth of 21.9% in the number of California businesses sold last month, with 1,137 transactions, compared to the 932 Los Angeles County deals completed in August of last year.
"While the county and state recorded solid growth in completed deals on small and mid-sized California businesses during August, the recovery in this marketplace is happening at a slower rate than we’d like," said Peter Siegel, MBA, Founder and President of BizBen.com, parent of the BizBen.com Index. "Through the first eight months of this year there have been 9,830 business sales in all of California. That's an improvement over the 9,397 deals at this time last year, but still behind the pace of transactions in 2008, when there were more than 15,000 sales posted by the end of August."
Los Angeles County Business Sales Statistics:
The City of Los Angeles recorded 90 completed sales of businesses during August and there were 15 closed escrows in Long Beach. Other active markets were in Torrance with nine sales, Gardena and Santa Clarita—seven sales each, and several cities where six sales were recorded during the month, including Carson, Downey, Glendale, Inglewood, North Hollywood and Van Nuys.
Sales figures for the year so far, by each city in Los Angeles County, listed at http://www.bizben.com/stats/los-angeles-county.php are as follows:
Agoura Hills: 8, Alhambra: 27, Artesia: 12, Azusa: 12, Baldwin Park: 25, Bell: 2, Bellflower: 14, Beverly Hills: 17, Burbank: 42, Canoga Park: 32, Carson: 22, Cerritos: 18, City Of Industry: 7, Compton: 21, Covina: 28, Cudahy: 4, Culver City: 20, Diamond Bar: 10, Downey: 26, Duarte: 10, El Monte: 31, Gardena: 29, Glendale: 70, Glendora: 14, Hacienda Heights: 11, Hawaiian Gardens: 17, Hawthorne: 16, Huntington Park: 13, Inglewood: 28, La Mirada: 15, La Puente: 8, Lakewood: 22, Lancaster: 24, Lawndale: 7, Lomita: 8, Long Beach: 138, Los Angeles: 642, Lynwood: 13, Manhattan Beach: 18, Montebello: 11, Monterey Park: 14, North Hills: 6, North Hollywood: 34, Northridge: 32, Norwalk: 21, Pacoima: 10, Palmdale: 21, Paramount: 12, Pasadena: 64, Pomona: 51, Rancho Palos Verdes: 9, Redondo Beach: 24, Reseda: 10, Rosemead: 18, Rowland Heights: 22, San Dimas: 18, San Gabriel: 27, Santa Clarita: 37, Santa Fe Springs: 17, Santa Monica: 46, Sherman Oaks: 21, South El Monte: 4, South Gate: 15, Studio City: 20, Sylmar: 6, Temple City: 14, Torrance: 58, Van Nuys: 45, Venice: 13, West Covina: 32, West Hollywood: 28, Whittier: 57, Woodland Hills: 28, Arcadia: 22, Bell Gardens: 10, Calabasas: 8, Chatsworth: 3, Claremont: 2, Commerce: 3, El Segundo: 12, Encino: 13, Granada Hills: 3, Hermosa Beach: 16, La Crescenta: 6, Mission Hills: 2, Monrovia: 20, San Pedro: 14, Saugus: 1, South Pasadena: 4, Tarzana: 8, Tujunga: 3, Valencia: 11, Walnut: 11, Wilmington: 16, Winnetka: 3, Altadena: 3, Avalon: 1, La Verne: 5, Lake View Terrace: 2, Marina Del Rey: 5, Sierra Madre: 2, West Hills: 3, Canyon Country: 3, Hollywood: 1, Malibu: 10, Maywood: 3, Panorama City: 9, San Fernando: 6, Sun Valley: 8, Sunland: 6, Arleta: 5, Irwindale: 1, Leona Valley: 2, Mt Baldy: 3, Newhall: 5, Pico Rivera: 14, Rolling Hills Estates: 4, Valinda: 1, Playa Del Rey: 2, Toluca Lake: 1, Valley Village: 1, La Canada Flintridge: 1, Lennox: 1, Montrose: 3, Rancho Dominguez: 4, Signal Hill: 1, Vernon: 1, Bassett: 1, Castaic: 1, Palos Verdes Estates: 3.
Siegel noted, "Upward pressure on the rate of sales in this market comes from the large number of baby boomer owners deciding to retire, and also the growing number of Californians who are dissatisfied with their options in the jobs market and are seeking another career path. But we have yet to experience the sales boom we’ve expected in the business for sale marketplace. There still are challenges that face many Californians who should be making a career move--either selling or buying a business—but are hesitant to decide on life changes at a time when there still is some uncertainty about the short-term, even long-term prospects for the economy."
"But we also observe people who are able to overcome some of the challenges and achieve their buying and selling objectives in this economic environment. They are implementing innovative ways to succeed when they work to raise money, negotiate agreements despite their differences, and solve escrow problems so they can complete their deals. A number of their successful strategies are discussed in my newly released ebooks: Buying a California Business in the New Economy, and Selling a California Business in the New Economy."
August 2013 sales by county, found at: http://www.bizben.com/stats/stats-monthly-aug.php are as follows:
Alameda: 45, Amador: 1, Butte: 4, Calaveras: 3, Contra Costa: 12, El Dorado: 6, Fresno: 27, Imperial: 1, Inyo: 1, Kern: 32, Kings: 1, Lake: 2, Los Angeles: 327, Mendocino: 4, Mono: 1, Monterey: 17, Napa: 10, Nevada: 1, Orange: 119, Philadelphia: 1, Placer: 9, Riverside: 63, Sacramento: 30, San Bernardino: 51, San Diego: 116, San Francisco: 40, San Joaquin: 15, San Luis Obispo: 6, San Mateo: 13, Santa Barbara: 8, Santa Clara: 55, Santa Cruz: 4, Shasta: 4, Solano: 21, Sonoma: 27, Stanislaus: 12, Sutter: 6, Tulare: 8, Tuolumne: 4, Ventura: 17, Yolo: 6, Yuba: 2
Sales statistics by city and county throughout the state for the past four years are accessed at http://www.bizben.com/stats/stats-total.php.
The BizBen.com Index has been collecting and reporting information and statistics about Los Angeles County and California small business sales for over 16 years.
About: Peter Siegel, MBA is the Founder & Senior Advisor (ProBuy & ProSell Programs) at BizBen.com, and the BizBen Network (established 1994, 8000+ California businesses for sale, 500 new & refreshed postings/posts daily). He consults daily with Los Angeles County business buyers, small business owners/sellers, business brokers, agents, investors, and advisors. He is the author of numerous eBooks and articles on the topic of Buying & Selling California businesses. Reach him direct at 866-270-6278 to discuss strategies regarding buying, selling, (or financing a puchase of) a Los Angeles County or California business.
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For More Information
Contact: Peter Siegel
Phone: 866-270-6278 or 925-548-1892
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