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August 2020, California Small Businesses For Sale Sold Stats - BizBen Index

Total sales of California small businesses sold were up 12% from last month and down 17.3% from the same time last year in California.

Total August 2020 California Small Businesses Sold: 927

August 2020 California Small Businesses Sold By County:

Alameda County 61, Amador County 3, Butte County 2, Contra Costa County 18, El Dorado County 3, Fresno County 14, Humboldt County 6, Imperial County 2, Kern County 26, Kings County 3, Lake County 4, Los Angeles County 124, Marin County 16, Monterey County 20, Napa County 1, Nevada County 7, Orange County 85, Placer County 11, Riverside County 68, Sacramento County 42, San Bernardino County 47, San Diego County 95, San Francisco County 48, San Joaquin County 24, San Luis Obispo County 17, San Mateo County 26, Santa Barbara County 7, Santa Clara County 47, Santa Cruz County 8, Shasta County 10, Solano County 8, Sonoma County 32, Stanislaus County 13, Sutter County 3, Tehama County 6, Tulare County 10, Ventura County 10

August 2020 California Small Businesses Sold By County - Most Sales:

Los Angeles County: 124
San Diego County: 95
Orange County: 85
Riverside County: 68
Alameda County: 61
San Francisco County: 48
Santa Clara County: 47
San Bernardino County: 47
Sacramento County: 42
Sonoma County: 32

Percentage Increase From Last Month: Up 12%

Percentage Decrease From This Time Last Year: Down 17.3%

Total Monthly Business For Sale Stats For California - Last 6 Months:

July 2020: 828
June 2020: 558
May 2020: 426
April 2020: 308
March 2020: 701
February 2020: 1,364

Last Year's 2019 Total Small Businesses Sold For California: 15,358

Some Key Economic & Geographic Information That Affected Sales Of California Small Businesses For August 2020:

- Lower Interest Rates
- Covid Persists
- Economic Lockdown
- Restaurant Segment Hurt
- Sales Pushed From July
- Unemployed Buyers React
- Home Sale Prices Up
- Sellers Reappearing
- Brokers Leave Industry
- Stalled Deals Happen
- 7a SBA Loans Reappear

Several ProIntermediaries on BizBen.com had many opinions on what factors played a role in the sales of small businesses in the California marketplace. They include:

Joe Ranieri, Business Broker in the Orange & Los Angeles County area gave his views: "I specialize in mainly bars and restaurants, and other eating establishments, and from sellers, I notice a sense of frustration based on the ongoing back and forth of state and local regulations. Businesses that are less reliant on in-door dining and services, such as coffee, fast food take out, are more apt to put their business on the market. Buyers are more trepidation than ever, and many are trying to gauge the right time to enter the market, because obviously life will go back to normal, but no one knows exactly when. Many buyers and sellers believe, based on anecdotal evidence, that the market will begin to self-correct, and many anxieties will be lifted, after the 2020 election, and that many in the business community are being held hostage because of state/local/federal politics."

William F. Ziprick, California Transactional Attorney, had two observations this month regarding August small businesses being sold, "1. PPP Loan Forgiveness is a Critical Item in Structuring the Deal: We are working on a number of transactions where a critical issue is trying to make sure that the sale transaction will not negatively impact the ability of the Seller to obtain forgiveness of a PPP Loan. It is important to carefully review the particular terms of the underlying Loan, as the terms vary from lender to lender. From what we have seen, getting prior lender approval for any type of sale related transaction will normally be required at a minimum." and "2. Buyers Are Understandably Cautious, But Sales Of Small Businesses Are Still Getting Closed. Even if a business has experienced Covid related challenges (and most have in some form or fashion), Buyers are still willing to pull the trigger on deals. The important part is for the Seller to be able to differentiate between a temporary reduction in financial results caused by Covid, versus a fundamental problem that the business may be experiencing. Sellers need to be prepared to address this issue head-on during the due diligence review."

Ralph Santos, a Business Broker specializing in Health Care related businesses noted: "On average, we are seeing a mix of all cash buyers and those buyers seeking other means for funding to include seller-carry back loans and SBA loans. In relation to the pandemic, we have seen our SBA lenders a bit more hesitant on processing SBA loans. We have observed a more stringent adherence to the buyer vetting process on behalf of the lenders to include looking at the buyer’s past experience and collateral requirements. We have also noted a larger deposit requirement by the lenders which may be in part to their perception of a potential ability to pay variable. On a distinct note, the current pandemic has not been a contributing motivator for our sellers wanting to sell their medical businesses. The motivating factors have been consistent with what we have seen pre-pandemic times and we do not foresee any shift at this time. We do however foresee an uptake on the value that these medical businesses bring going forward."

To view all small business sold stats for all Counties and Cities in California go to:

California Small Businesses Sold Stats - BizBen.com Index

Most Popular Search Requests Of Small Business Types Wanted By Business Buyers For This Period:

1. Laundromats - Card & Coin
2. Online eCommerce Websites
3. Self Serve Car Washes
4. Gas Stations
5. Liquor Stores
6. Markets
7. Smog Shops
8. Postal/Mail Box Stores
9. Janitorial Services
10. Specialty Retailers
11. FBSO's - For Sale By Owner
12. Restaurants - Asset Sales
13. Specialty Ice Cream Stores
14. Smoke & Vape Shops
15. Yogurt Stores
16. Absentee Run Businesses
17. Boba Shops
18. Restaurants With TakeOut
19. Tire Stores
20. Hospice Services

About The BizBen Index:

The BizBen Index has been collecting stats and information regarding California small & mid-sized businesses sold for over 15 years. The BizBen Index is part of BizBen.com (established over 25 years) - which currently lists over 10,000 active California small & mid-sized businesses for sale, businesses wanted to buy, blog, discussions, vlogs, podcast, and resources for buying and selling California businesses. Peter Siegel, MBA is the Founder and Director of BizBen.com & BizBuyFinancing.com and consults daily with business buyers, owner/sellers, business brokers, agents, small business advisors on the topic of buying and selling businesses throughout California.

 
 
 
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