The number of completed deals involving business for sale offers in California reached 1,331 last month, a 15% increase over the 1,156 sales recorded during February of last year, according to figures released by the BizBen Index. The just completed month was the best February for California business sales since 2009.
Growth in the rate of sales for small and mid-sized businesses is important for California's economy because new owners often insure continued success of their businesses. Every year thousands of California's business founders or subsequent owners retire or become involved in other enterprises. Selling these companies to the next generation of owners can benefit the state's economy as fresh business leadership often results in, at least maintaining, and frequently expanding the number of employees and increasing the amount of taxes paid to local and state governments. And new ownership often benefits customers of the business as they receive better products and services.
Much of the reason for the increase in the numbers of California's business transfers can be attributed to improved availability of purchase money from a growing number of financial institutions. Another factor contributing to the trend is expansion of the state"s economy. An optimistic outlook encourages buyers and sellers to participate in the business-for-sale market.
Nearly all of the statess large counties posted increases in sales last month compared to the same 2014 period. February-to-February sales grew 12% in Los Angeles County to 347 transactions. San Diego County posted a 28% increase to 123 sales. Growth in Orange County deals to a total of 148 last month represents a 17.5% increase compared to February last year. Riverside County recorded a 58% increase in deal count last month with 60 business transfers.
Northern California's large county with the biggest sales gain in February is Santa Clara, posting an increase of 77.8% to 84 transactions. Other sizeable counties in the northern part of the state showing considerable sales increases last month are Contra Costa with 32 sales, an 18.5% increase over February 2014 numbers; San Francisco which posted 57 deals, up by 18.8% compared to last February; and Alameda County, registering 60 closed deals for a 9% gain compared to last February.
The sales totals posted by California County during last month, available at http://www.bizben.com/stats/stats-monthly-feb.php are as follows: Alameda: 55,
Alameda: 60, Amador: 1, Butte: 4, Calaveras: 1, Contra Costa: 32, El Dorado: 3, Fresno: 35, Kern: 19, Lassen: 2, Los Angeles: 347, Mariposa: 1, Mendocino: 1, Merced: 6, Monterey: 11, Napa: 6, Nevada: 4, Orange: 148, Placer: 13, Riverside: 60, Sacramento: 24, San Bernardino: 59, San Diego: 123, San Francisco: 57, San Joaquin: 21, San Luis Obispo: 23, San Mateo: 10, Santa Barbara: 19, Santa Clara: 84, Santa Cruz: 12, Shasta: 6, Siskiyou: 2, Solano: 11, Sonoma: 31, Stanislaus: 23, Sutter: 4, Trinity: 3, Tulare: 16, Ventura: 27, Yolo: 13, Yuba: 1
Sales totals by California county over the past several years can be found at http://www.bizben.com/stats/stats-total.php.
The BizBen Index has been collecting and reporting information about small California business sales for 17 years, to help business owners/sellers, buyers and the professionals participating in this market to make informed choices and achieve success.
#about#BizBen Index Contributor: Peter Siegel, MBA is the Founder of BizBen.com and the Director of BizBen and the BizBen Network. If you are searching to buy or sell a California small business make sure you are a part of the BizBen Network (it's free to belong). Feel free to phone Peter Siegel direct at: 866-270-6278 to be added to the BizBen Network.
|Helpful Resources To Assist In Selling And Buying California Businesses|
|Elizabeth McGovern: Escrow Services - SF Bay Area
McGovern Escrow Services, Inc., is a leading independent escrow company. We are a trusted partner with our clients, assisting them through the tangled bulk sale & liquor license transfer process. We provide attentive, quality & innovative customer service. Phone Elizabeth McGovern at 415-735-3645.
|Joe Sandbank, Esq. - Legal Services
I have provided legal counsel to business buyers, sellers and brokers for over 17 years. With prior experience as a business broker and SBA loan officer, Joe brings both a practical and legal approach to all aspects of the business acquisition process.
|Diane Boudreau-Tschetter: Escrow And Bulk Sale Services
California Business Escrow, Inc. is a full service independent escrow company serving all of California and has expertise in a wide range of escrows. Our team prides itself on providing an exceptional escrow experience. For more info phone Diane Boudreau-Tschetter at 888-383-3331 or 209-838-1100.
|Willard Michlin, CPA, Certified Fraud Examiner, Due Diligence Services
Willard Michlin, CPA #106752, offers buyers step by step training & assistance in doing Due Diligence Services when they are thinking of making an offer, or are in process of investigating a business purchase. He helps to determine the actual net profit even when there is cash. Call 805-428-2063.
|Helen Yoo: Escrow & Bulk Sale Services - Southern California
New Century Escrow, Inc. is a fully licensed & bonded independent escrow company. Over 20 years combined experience in handling bulk escrow transactions. Multi-lingual staff that speaks your language, including Korean, Chinese, Vietnamese. Call Helen Yoo direct at 626-890-1151.
|Janet Carrera - Escrow & Bulk Sale Services - SF Bay Area
Redwood Escrow Services, Inc. is a full service, licensed independent escrow company. We are EAFC Fidelity bonded, fully insured & licensed with the Department of Corporations. Committed to offering our clients the most comprehensive variety of escrow services available. Phone Janet at 510-247-0741.
|Ranvir S. Sandhu, Esq. - Legal Services For Buyers And Sellers
I've worked at top Bay Area law firms and have extensive experience with business entity formation, mergers, dissolutions, conversions, employment matters, including experience in reviewing and negotiating transactional documents such as leases and purchase agreements.
|Mark Chatow, Esq.: Legal Services For Buying, Selling Businesses
Mark has a broad range of small business purchase & sale experience from analyzing potential acquisition targets to successfully guiding buyers and sellers through the purchase & sale of small businesses. Mark can assist with contracts, negotiations, legal matters, etc. Reach Mark at 949-478-8393.
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