The 14,277 small and mid-sized businesses that changed hands in the state last year represent a 34% decline from 21,689 sales recorded in 2008, and a count of last month’s deals, 1,193, also shows a 34% drop when compared to the 1,804 closed escrows in December 2008.
While disappointing, these results are certainly consistent with our expectations, considering the difficulty buyers have been experiencing when trying to tap business banks for the loans needed to complete their purchases. Uncertainty in light of the lagging economy also has contributed to the reduced activity. Many would-be buyers and sellers have chosen to “wait out’ the market in hopes things will soon improve.
Some growth in sales activity in December (1,193), compared to November’s 954 transactions, might be a sign that the market for small businesses is becoming more robust. But anyone who has watched the ups and downs, month to month in 2009, realizes it’s too early to call this movement a trend.
All of the largest counties in the state registered a drop in small and mid-sized business sales volume in the year just past. Los Angeles County saw its market slip to 3,769 deals in 2009 from the 5,533 count in 2008. The 38% decline in San Francisco was from 822 to 502, and the slide in San Diego County was more than 40% to 1,401 from the 2,422 figure registered in 2008. Orange County’s 41% fall-off in activity, 2,274 to 1,336, was exceeded by a 54% dive in Riverside County, where the 2009 transaction total of 308 contrasts with the 676 deals closed in 2008.
A breakdown of 2009 sales stats pages by county is provided and updated regularly.
|Helpful Resources To Assist In Selling And Buying California Businesses|
|Helen Yoo, New Century Escrow - Escrow Services In 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.
|Diane Boudreau-Tschetter: Escrow & Bulk Sale Services - CA
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.
|Brad Steinberg, Business Broker: Laundromat Specialist
PWS is the leading laundromat broker in California. Since 1968 PWS has brokered over 2,500 laundromat sales. With over 90 employees dedicated to the coin laundry industry, PWS has 18 licensed agents, a 3 person in-house finance department, 10 service technicians and a 20 person parts department.
|Elizabeth McGovern: Escrow Services - San Francisco 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.
|William F. Ziprick, Attorney: Legal Services For Buyers And Sellers
Through creative problem solving, attention to detail, accessibility, & understanding that unnecessary delay is often a deal killer, I work closely with my clients and other professionals to consistently achieve a high rate of closings. Office: 909-255-8353, Cell: 509-951-7230.
|Janet Carrera: Escrow & Bulk Sale Service - 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.
|Shalonda Chappel: Escrow & Bulk Sale Services - Southern California
Escrow services to brokers/agents, sellers, & buyers. Established 43 years. Extraordinary service. Experienced with handling difficult transactions. One stop for all your escrow needs: Bulk sales, lien searches, UCC searches, liquor license transfers, publishing & recording services. 951-808-3972.
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