The sum of 1,176 small California business for sale deals completed in California last month represents a decline of about 14% from the 1,371 sales recorded in the same month last year, according to the BizBen.com Index.
It also said, however, that a total of 7,366 small and mid-sized California business were successfully matched up with buyers through the first half of the year, up a slight 1.47%, from 7,259 completed transactions over the first six months of 2012.
The slowdown last month wasn't unexpected. Some of the people who might have purchased businesses in the past few months are watching the jobs picture improve and are joining or planning to join the workforce as employees for someone else.
I think we can consider last month's sales decline a minor correction. The underlying pressures are there, on both the buyer/demand and the seller/supply sides, for us to see continued growth in businesses sales throughout the state, long term.
Some of California's largest business sales markets recorded substantial declines in the number of deals completed last month vs. June 2012. Only 247 businesses in Los Angeles County changed hands last month, a drop of 35.7% compared to the 384 deals concluded in the same period last year. Orange County business sales slipped 32.6% to 97 deals last month, from the 144 completed sales during June 2012. San Diego County also recorded a decline of 32.6% from 139 closed escrows in June 2012 to 97 for the month recently completed.
Gainers include Alameda County, up almost 25% from 57 to 71 transactions last month, and San Bernardino County with business sales last month showing a 50% increase, from 44 to 66.
Key factors needed to spur California small business sales""confidence about the future of the economy and ready access to borrowed funds--are slowly improving. Part of rising consumer confidence is a greater willingness of both buyers and sellers to overcome the uncertainty that has plagued the market, and to move forward with their plans. And California business buyers are finding it easier to get the loans they need to complete their deals. Part of the reason is that they are getting smarter about preparing "˜approval-ready' loan applications.
June sales totals by California County, found at, http://www.bizben.com/stats/stats-monthly-jun.php are:
Alameda: 71, Butte: 7, Contra Costa: 31, Fresno: 27, Imperial: 6, Kern: 27, Los Angeles: 247, Marin: 16, Mendocino: 3, Merced: 5, Monterey: 24, Napa: 7, Nevada: 4, Orange: 97, Placer: 8, Riverside: 45, Sacramento: 44, San Bernardino: 66, San Diego: 97, San Francisco: 52, San Joaquin: 28, San Luis Obispo: 6, San Mateo: 27, Santa Barbara: 22, Santa Clara: 51, Santa Cruz: 7, Shasta: 8, Solano: 17, Sonoma: 40, Stanislaus: 13, Sutter: 1, Tehama: 4, Tulare: 20, Ventura: 32, Yolo: 8
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 about small California business sales for 16 years, to help business owners/sellers, buyers and the professionals participating in this market make informed choices and achieve success.
This encouraging news does not change the fact that 80 percent of buyers in the market right now are unlikely to achieve the goal of purchasing a business. Meanwhile, 70 percent to 75 percent of sellers will not be able to find a willing and able buyer ready to close a deal. That means a lot of wasted time and energy on both the buy and sell sides of the market.
We endeavor to aid serious and determined individuals in their efforts to buy or to sell, with the ProBuy and ProSell programs provided on this site. A new eBook, "Buying a California Business in the New Economy" has recently been published, offering information, insights and strategies for those who intend to be among the 20 percent of California business buyers who are successful. The eBook "Selling a California Business in the New Economy," will be available shortly.
|Helpful Resources To Assist In Selling And Buying California Businesses|
|Rick Carlson, Business Broker - Southern California
You Will Never Feel Lost In The Shuffle. Many Brokers Simply Send Out An NDA And That's The End Of Communication. All Buyers Receive A Personal Meeting With An Ace Acquisition Specialist So They Can Recommend The Perfect Business For You. Phone Rick direct at 800-985-4939.
|Jeff Sacher, Business Broker - North Bay Restaurant, Retail Specialist
Jeff is a leader in business brokering in the North Bay. Since joining Santa Rosa Business And Commercial in 1999 he has assisted Buyers and Sellers in over 200 business sales and acquisitions. Jeff provides other services for his clients as well. Reach Jeff and his team at 707-888-4972.
|Jim Saxton, Liquor License Broker & Consultant - SF Bay Area
20 years experience of local governmental requirements, such as Police Departments, Zoning / Planning Departments, and ABC District Offices, my company Liquor Licenses of SF Bay Area is very qualified to resolve all of your concerns during the liquor license transfer process. Call 925-787-0770.
|Matt Sadati, Business Broker, SF Bay Area, Northern CA
I have Engineering and Law, JD degree, with over 30 years of experience in all phases of entrepreneurship. During the past 15 years my concentration has been in business of mergers and consulting. I have owned and operated over 33 businesses each having one to 30 branches.
|William Park, Business Broker - Southern California
Highest Volume Broker in California, Simply Check our HUNDREDS of Listings! Over 25 Associates, Speaking Dozen Languages, Helping Buyers and Sellers of Small Business since 1982, Centrally Located between Los Angeles and Orange Counties, while Riverside & San Bernardino Counties are Very Accessible.
|Manjit Singh: SF Bay Area - Business Broker
Assistance in the San Francisco Bay Area. Contact me about buying or selling a restaurant, liquor store, gas stations, markets, and c-store businesses. If you are looking to buy or sell a SF Bay Area liquor store, market, c-store, restaurant, etc phone me direct at 510-417-9429.
|Joe Ranieri, Business Broker, Orange & LA County Areas
Having owned retail/restaurant businesses for over 20 years, my interest turned to listing and selling businesses rather than owning them. I specialize tend to specialize in Orange County high volume restaurants, fast food independents and chains, bars and liquor stores. Call 714-292-5448.
|Mike Brewer: Liquor License Brokers, ABC Consulting Services - California
Liquor license brokerage and consulting services. We provide: Alcohol License Transfers Application Consulting & Processing, Liquor License Purchases & Sales, City Zoning Permits & Land Use Entitlements, Public Convenience or Necessity Findings and Letters. Phone Mike Brewer direct at 800-437-1100.
|Related Articles, Events, Blog Posts, Discussions, Videos, Interviews|
|Why Restaurant Buyers Typically Fail: Best Pro Tips For Buying A Restaurant
Buying a restaurant (no matter what type) can have many pitfalls, and potential restaurant buyers should know how to avoid getting burned! Several restaurant intermediaries and advisors weigh in on this BizBen Discussion about the best way to find, purchase and run a restaurant successfully!
|Specialty Restaurant Broker Discusses Liquor Licenses & Working With The ABC
What you will read in this BizBen blog post you will probably not find in any manual or set of instructions provided by the ABC (liquor licenses in California). This blog post by Jeff Back (SF Bay Area Restaurant Broker Specialist) at 925-736-8200 discusses this topic of liquor licenses in detail.
|Tips From A Restaurant Broker - Check A Restaurant For Karma Before You Buy
Jeff Back (925-736-8200), a SF Bay Area broker specialist who specializes in selling restaurants discusses what he looks for when sizing up a potential restaurant for sale. Do the restaurants you're thinking of purchasing have good Karma? See Jeff's insights into this topic on restaurant karma.
|Buying A Restaurant With Financing: 5 Options For Restaurant Business Buyers
In this Discussion, Peter Siegel MBA (Business Purchase Financing Advisor at 925-785-3118) discusses financing of purchasing a small to mid-sized restaurant business (with or without real estate). When it comes to financing a restaurant, potential restaurant buyers have many options to choose from.
|Liquor License Assistance - SF Bay Area - Jim Saxton
Jim Saxton - 20 years experience of local governmental requirements, such as Police Departments, Zoning / Planning Departments, ABC District Offices, my company Liquor Licenses of SF Bay Area is very qualified to resolve all of your concerns during the liquor license transfer process. 925-787-0770.
|FREE Webinar: Buying Or Selling San Francisco Restaurants - Best Practices
This informative 40 minute interview/webinar about buying & selling restaurants in San Francisco with restaurant broker specialist Cheryl Maloney is a real eye opener for restaurant buyers and sellers. Cheryl gives great advice to both buyers and sellers from her years of experience in the industry.
|Financing The Purchase Of A Frozen Self-Serv Yogurt Shop - Tips For Buyers
Financing a frozen self-serv yogurt shop for can be challenging. Here, you'll learn the real scoop behind financing a yogurt shop purchase to help it be profitable from the start. Peter Siegel at BizBen.com
|Thinking About Selling A Small Business? Know These 8 Factors That Matter
The likelihood of selling a business is often determined by external factors in the marketplace. Here are eight influences on how easy, or difficult it might be when selling a small California business. Peter Siegel at 925-785-3118 (BizBen ProSell Program) explains these factors for owner/sellers.
|See All News, Tips And Events|