The total of 1193 small and mid sized businesses sold in California last month represents an increase of about 19% over the 1002 deals closed in February 2010. The surge in escrows completed late in the month resulted from handling the backlog of deals held up by holiday-related delays earlier in February. Also contributing to improved sales figures was easier access to funds--primarily through SBA loan programs--needed by buyers and sellers to complete their transactions.
In its recent report on lending activity, the SBA announced that as of February 18, a total of 3,188 loan requests have been approved since the beginning of the current fiscal year (October 1, 2010). They represent a total of nearly $2.037 billion in SBA 7(a) and 504 program funds for California business men and women to use in expanding or acquiring companies.
Los Angeles County recorded 285 completed transactions in February, up from the 268 deals closed in the same month last year. Other large California counties with increased sales last month, compared to February 2010, are Orange County, with 103 vs. 94, San Diego County, where 112 deals closed in the just-completed month, an improvement over 100 sales registered in the same period last year, San Francisco County, with 51 vs. 42, and Sacramento County, with buyers taking over 41 small and mid-sized businesses compared to 19 deals the previous February.
But a decline in sales for February was seen in a few large counties, such as San Bernardino with 35 closed deals compared to 51 in February 2010, and in Fresno County, 25 last month vs. 29 during the same month in 2010.
On the whole it appears we're witnessing a revival in sales of small and mid-sized businesses after a couple of slow years. Many sellers who scrapped plans to sell in 2009 because their valuations were down with declines in business revenues, are starting to see things improve. Many have taken this opportunity to put their businesses on the market. And the increased supply is met by stronger demand as more and more Californians decide that buying a business is a better option than taking their chances on the job market.
Total February sales statistics, available at http://www.bizben.com/stats/stats-monthly-feb.php, are as follows:
Alameda: 74, Amador: 2, Butte: 4, Contra Costa: 35, El Dorado: 16, Fresno: 25, Imperial: 5, Inyo: 1, Kern: 25, Kings: 4, Lake: 3, Lassen: 1, Los Angeles: 285, Madera: 1, Marin: 6, Mendocino: 12, Merced: 6, Monterey: 15, Napa: 2, Orange: 103, Placer: 16, Plumas: 3, Riverside: 68, Sacramento: 41, San Bernardino: 35, San Diego: 112, San Francisco: 51, San Joaquin: 22, San Luis Obispo: 8, San Mateo: 15, Santa Barbara: 20, Santa Clara: 57, Santa Cruz: 2, Shasta: 12, Solano: 9, Sonoma: 36, Stanislaus: 7, Sutter: 6, Tehama: 1, Trinity: 1, Tulare: 24, Ventura: 20, Yolo: 2
This information is provided by the BizBen.com Index, which for the past 15 years, has collected California small businesses for sale statistical data.
|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.
|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.
|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.
|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.
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