Riverside County Posts 50 Business For Sale Transactions In January, Says BizBen Index
For Immediate Release:
Riverside County Posts 22% Increase In Small Business For Sale Transactions In January, Says BizBen Index
Dublin, CA (February 11, 2013) - With 50 small and mid-sized business for sale offerings sold last month, Riverside County posted an increase of about 22% in deal volume compared to the 41 transactions successfully concluded in January last year. The county’s results were not reflected in the statewide sales performance which shows a decline to 1,179 completed deals last month, compared to the 1,223 transactions that closed in January 2012.
"Riverside County’s improved small business marketplace reflects the health of the area’s economy. More and more entrepreneurs in the county are ready to move forward with their business purchase or sale transactions," said Peter Siegel, MBA, Founder and President of BizBen.com, parent of the BizBen Index.
Siegel said "While we’ve seen general improvement in the count of business sales throughout the state, there was particularly high volume this past December as many sellers were afraid that capital gains tax rates were about to go up and rushed to complete their deals before the end of the year. That means some transactions that might have been completed last month were, where possible, pushed through escrow during the final days of 2012. This factor helps to explain why last month’s California business sales activity came up short compared to the numbers posted the prior January."
The city of Riverside recorded 12 sales during January. Other active markets were in Temecula with seven deals, and Corona, where six businesses changed ownership. There were four deals each in Indio, Lake Elsinore and Rancho Mirage. The Riverside county’s small business sales stats totals by city last month:
Beaumont: 1, Bermuda Dunes: 3, Corona: 6, Hemet: 3, Indio: 4, Lake Elsinore: 4, Moreno Valley: 1, Palm Desert: 3, Palm Springs: 1, Perris: 1, Rancho Mirage: 4, Riverside: 12, Temecula: 7
"I’m optimistic that California’s small business marketplace will be more robust this year than in 2012," said Siegel. He defines a small business as one that sells for $2 million or less.
"Easier access to business purchase loans from financial institutions will be an important factor if we’re to experience a more active business for sale marketplace throughout the state. Financial institutions aren’t handing out cash like they did before the mortgage meltdown. But many are starting to loosen up on the purse strings and make loans for solid deals.
"And we’re seeing more innovative strategies being used by smart California entrepreneurs. Fresh approaches are needed to overcome some of the deal killers we’ve had to cope with in the past few years. This is a New Economy for participants in the small business for sale market in California. It comes with some new challenges. People who know how to adapt to this environment are able to enjoy a competitive advantage."
According to Siegel, more businesses are starting to become available for sale in California because members of the large population of baby boomer business owners are choosing to retire. "And simultaneously, the demand curve is rising as more Californians say they’re feeling less hopeful about their chances of continuous and high paying employment. They’re deciding to purchase fast food franchises, auto service shops, retail stores and other small companies so they can control their financial futures."
The California business sales totals for January 2013, by county, are noted below and available at: http://www.bizben.com/stats/stats-monthly-jan.php
Alameda: 32, Amador: 7, Butte: 4, Contra Costa: 36, El Dorado: 3, Fresno: 43, Glenn: 1, Imperial: 3, Kern: 27, Los Angeles: 289, Madera: 2, Marin: 4, Mariposa: 1, Merced: 6, Monterey: 14, Nevada: 5, Orange: 129, Placer: 11, Riverside: 50, Sacramento: 36, San Bernardino: 55, San Diego: 132, San Francisco: 31, San Joaquin: 16, San Luis Obispo: 24, San Mateo: 25, Santa Barbara: 13, Santa Clara: 47, Santa Cruz: 9, Solano: 7, Sonoma: 28, Stanislaus: 27, Sutter: 4, Tehama: 7, Trinity: 1, Tulare: 11, Tuolumne: 4, Ventura: 23, Yolo: 7.
The BizBen Index figures, showing the sales rates by city and county throughout the state for the past four years are accessed http://www.bizben.com/stats/stats-total.php.
The BizBen.com website features more than 8,000 California businesses for sale and businesses wanted postings, along with offerings of new franchises and business opportunities. Since 1994 this niche online network and service has proved a valuable tool for thousands of California business buyers, small business owners/sellers, intermediaries, and advisors. The site also includes articles, resources, news and tips, and a daily blog. For the past 16 years, its BizBen Index has collected and reported on business sales statistics, by county and city, throughout the state.
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For More Information
Contact: Peter Siegel
Phone: 866-270-6278 or 925-548-1892
