California business for sale transactions set their highest yearly total in 8 years. The number of business for sale transactions in December was 1,397 which brought the total number of transactions for 2016 up to 16,858 it was reported by the BizBen Index.
The number of transactions completed this year represents the highest total of transactions in eight years. Not since 2008, the first year of the Great Recession, has there been so many business for sale deals completed.
That year there were 21,689 transactions completed. Last year there were 15,660 transactions completed.
"The number of successful business for sale transactions that have taken place this year is confirmation that the economy is improving both here in California and nationwide" said Peter Siegel, MBA, Founder and President of BizBen.com, parent of the BizBen Index.
Siegel explained, "While the numbers still haven't reached pre-recession” levels, the growth we have seen over the last eight years is remarkable. Frankly, we may never see numbers like we did in 2008, and previously, due to the fact that lenders have changed their practices since that time. But, I think we can all agree that the environment surrounding business for sale transactions has improved dramatically.”
Other reasons for the improved sales rate, according to Siegel, are easier access to business purchase loans from both SBA-backed and non-SBA lenders, as well as low-interest rates which make borrowing money cheap.
Siegel also noted, “2017 may be a different story as the Fed has said they intend to raise rates twice this year. If that ends up being the case we will have to wait and see how that affects things in the coming year.”
Larger Counties With Improved Sales
Among large California Counties reporting growth in the sale of small and mid-market businesses last month are San Deigo County with 121 transactions, Orange County posting 113 completed business transfers last month and San Bernardino County with a rate of sales increase of 7% from 86 sales last month.
The total business sales by county recorded last month, available at http://www.bizben.com/stats/stats-monthly-dec.php are:
Alameda: 75, Butte: 10, Contra Costa: 19, El Dorado: 9, Fresno: 48, Humboldt: 2, Imperial: 2, Kern: 39, Lassen: 1, Los Angeles: 368, Marin: 20, Mariposa: 1, Merced: 8, Monterey: 15, Napa: 5, Nevada: 5, Orange: 113, Placer: 18, Plumas: 1, Riverside: 76, Sacramento: 25, San Bernardino: 86, San Diego: 121, San Francisco:21, San Joaquin: 19, San Luis Obispo: 15, San Mateo: 40, Santa Barbara: 18, Santa Clara: 69, Santa Cruz: 14, Shasta: 4, Solano: 7, Sonoma: 31, Stanislaus: 12, Sutter: 3, Tulare: 13, Tuolumne: 3, Ventura: 40, Yolo: 15
Sales totals posted by California county over the last nine years are available 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 make informed choices and achieve success. Sources for the information come from California's Secretary of State office and other government agencies.
About The Author: Peter Siegel, MBA is the Founder And Administrator of BizBen.com (established over 20 years!) and is a Business Purchase Financing expert (SBA and Non-SBA financing) - see BizBuyFinancing.com. He consults daily with California business buyers, owner/sellers, business brokers, and agents regarding buying and selling California small businesses. Call him today regarding advice on finding, buying, selling, financing a business purchase/getting pre-qualified (ask about the BizBen ProBuy and ProSell Programs for business buyers and owner/sellers, and brokers). He'll also give you referrals to the best resources on buying and selling businesses, brokers, etc and a FREE copy of his eBooks "How To Find And Buy A California Business Successfully" or "Valuing And Selling A California Business Successfully" with any personal consulation/service. Peter Can be reached direct at 925-785-3118 (if you get voicemail please leave some good times to reach you and a detailed message - thanks).
|Helpful Resources To Assist In Selling And Buying California Businesses|
|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.
|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.
|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.
|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.
|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.
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