April
2018
Ask the Expert!
 
Question: How long does it take to sell a business? 

Answer: Here we go again... it depends.

It depends on you, the business owner first. You have to gather the information requested by your CBI  TEAM intermediary. Once that information is gathered and the business has gone through the IDD (Internal Due Diligence) process, the seller interview and proposal, the average time to sell a business through the CBI process is about 6-12 months, far below the average across the USA.

We want to hear from you, our readers! Send in your questions to
info@cbiteam.com
and we'll have your answers in our next newsletter.


Business Confidential is compiled from information picked up by Carl Grimes and other CBI Team members on the streets, in the offices and around Northwest and Central Arkansas, and Northeast Oklahoma. The names aren't being revealed to protect the innocent (and sometimes the guilty!).

 

Dateline-Northwest Arkansas:

Big news coming down the pike very soon about the CBI TEAM Northwest Arkansas office. It's good news for the company and for business owners and buyers of Northwest Arkansas. Watch closely over the next couple of months.

Bad credit? It's a problem but not insurmountable. CBI TEAM Loans4Business program director Kelly Tivis recently worked with two business buyers whose credit scores were a little lower than most lenders would accept. By utilizing the L4B network, Kelly was able to help place both those buyers with loans that work for them and the Sellers, too.

Everyone know about AI (Artificial Intelligence) but we hear at CBI TEAM believe in and practice IDD (Internal Due Diligence). If you are a potential business seller you want to know your business information has been confidentially reviewed by experts to help you make the right decision about selling your business. Each business that is brought to CBI for review is subjected to Internal Due Diligence by the combined brainpower of all 5 CBI offices and intermediaries as we review each file to make sure we haven't missed anything about your business that may affect its' market potential. When CBI holds the crucial seller interview with you as the business owner, it's to fill in the gaps and understand your expectations from the perspective of an informed business intermediary supported by the entire CBI TEAM. That's good news for you Mr. or Mrs. Business Owner and there is no cost or obligation to go through this process. 

It's IDD, the CBI TEAM way.


Want to reach hundreds of business owners and buyers?

Contact us to find out more!


BIG BUYERS!
 
What they look for:
Recently the CBI TEAM recieved a message from a firm looking to purchase businesses in a variety of industries all across the country. They focus on the healthcare industry, as well as some light manufacturing and infrastructure businesses. The company is mostly looking for businesses with EBITA anywhere from $2 million to $25 million. If this sounds like your business, and you believe it is time to sell call us today to learn more about this and other big buyers. For more information  877-582-5200 or email confidential@cbiteam.com 

Privately Owned Businesses are Nimble for Profits


This sign appeared alongside Highway 270 heading towards Hot Springs in the small Montgomery County town of Glenwood.

A banner stretched out on an old sign that demonstrates that Jim knows he can make a buck renting out tuxedos in a small Arkansas hamlet if he does it at the right time and to meet the needs of his customers.

He didn't have to seek approval from a board of directors  to import tuxedos. He found a source (probably one he's had for years), threw up the sign and started renting tuxes so his customers didn't have to drive to Hot Springs.

That's small business...resourceful and nimble in finding ways to take care of the customer and make profits. Shop your local, privately owned businesses. It's good for your community. 
 

Connect With Us On Social Media:

Need some encouragement?
Contact us at 877-582-5200 or e-mail confidential@cbiteam.com for a no-obligation, confidential consultation.

Sold! NWA Pool and Spa

Old friends shook hands at the closing table recently when the CBI Northwest Arkansas and CBI Central Arkansas Teams combined to re-introduce Jeff Whitham and Brian Sbabo and complete the sale of NWA Pool and Spa to Mr. and Mrs. Sbabo. 

Jeff Whitham bought NWA Pool and Spa through the services of CBI TEAM and then owner Larry Lee. 

Jeff and his wife Tammy successfully grew and operated the business and decided earlier in 2018 that they were ready to move on to the next business opportunity. Jeff contacted Connor Grimes of CBI Central Arkansas and through a co-listing between the Central and Northwest Arkansas CBI offices, John Green of CBI NWA began to market the business. 

Enter Brian Sbabo who actually inquired on a different business but when that one didn't work out for him and his wife John Green introduced them to NWA Pool and Spa and Brian remarked that he knew Jeff Whitham very well from his previous employment when both worked as engineers at the same firm. 

Through the CBI structured sale process, the Whithams and the Sbabos met and the transaction closed in April 2018.

Another successful sale was accomplished for Seller and Buyer by the CBI TEAM, confidentially helping people sell and buy businesses to secure their financial futures.
If you've been thinking about selling now, or in the next 5 years, call 877-582-5200 for a no-obligation consultation from a CBI TEAM professionally trained intermediary. You may also email confidential@cbiteam.com

From Left to Right: Tim Shultz, Seller and Charlotte and Kevin Liles, Buyers.
SOLD! Dippin' Dots

Dippin' Dots ice cream franchise locations in the McCain and Park Plaza malls have transferred ownership according to Connor Grimes Owner/Broker  and Carl Grimes-Northwest Arkansas office owner. 

While working as a senior intermediary in the Northwest Arkansas office, CBI TEAM Richmond Virginia area Office Owner Casey Grimes was the listing agent on the business which has locations in Central Arkansas. The definition of a team effort, the entire company pulled together to help get this deal done. Shep Campbell, while following up on a separate business inquiry from last year, introduced the buyers Charlotte and Kevin Liles to the Dippin' Dots opportunity. The couple saw this was the right business, it was in their price range and something they could grow. The business had potential, something the Seller, Tim Shultz knew but could not capitalize on as he lived in Northwest Arkansas. After a Buyer and Seller meeting, the Liles wrote an offer on the business and after some negotiations the deal came together. 

The CBI TEAM has had great success selling good businesses to the right buyers, including franchises. For more information about selling your business email
confidential@cbiteam.com or call 877-582-5400 today for a free no-obligation consultation. 


Racing To Close

By Leland Eidson, System Administrator/Closing Coordinator-Confidential Business Intermediaries/The CBI TEAM Northwest Arkansas

The closing table is like the finish line of a long complicated race. It takes a lifetime to build a solid business, and selling a business can seem like a marathon. While it’s true some deals are more like sprints, barreling towards the closing table at breakneck speeds, most deals go cross country. There are plenty of twists and turns, and often there are even a few hurdles to clear. This can be exhausting, and it takes time, but the CBI TEAM will be there every step of the way. 

In  more than 20 years in business, the CBI TEAM has learned that every race is different, and no two businesses take exactly the same path to the closing table. However, the one thing that’s true of every deal is that time is the enemy. There is nothing quite like time to make a person talk themselves out of a deal that’s going to work. Time spent scrambling to cover the details can be the difference between a successful transition of ownership and a complete shutdown. Sometimes it’s a kernel of doubt that with time grows to crippling heights, sometimes it’s just a matter of being too tired to go on. A lifetime of work ends without providing the return you as the business owner so richly deserve. 

So how do you fight time? How can a business owner clear their path to the finish, and shave a few minutes off their lap times? The CBI TEAM has the answer.

 It begins with a good start!

We’ve helped to sell hundreds of businesses, and we know exactly the types of hurdles a business owner is going to face when trying to sell. We know the questions buyers have, and we can help you be prepared to answer them. The CBI TEAM provides our clients with all the tools necessary to win the race and visit the closing table.

If you want to win a race, the easiest way is to get a head start and early lead. All CBI TEAM clients are asked to put together a financial document package, before we even talk about signing an agreement. In a free, no obligation consultation, your CBI TEAM Intermediary will take a look at the information you’ve provided, and give you an honest evaluation of how ready your business is to sell. We’ll get you prepared and organized, and together we can make the race a little shorter and a lot easier.

Ultimately, to paraphrase a sporting legend you lose 100% of the races you never start. The first step in the long race is get in touch with your local CBI TEAM office, and get your free consultation. No matter what happens next you’ll have the head start you need to make sure that this race is one that you can win. Call 877-582-5200 or email confidential@cbiteam.com today to take the first step towards the finish line.   


Online Marketing Activity

One of the many ways the CBI TEAM markets businesses is through buyer specific websites, places business buyers go to find businesses to buy. ​Below are figures that represent ​some online ​buyer activity on some (not all) of the websites used by Confidential Business Intermediaries/CBI TEAM to market businesses. This information displays the amount of views or "hits" that ​CBI business listing​s​ and websites ​got as well as the total number of ​emails​ to ​which ​our monthly newsletter​s are sent​.​ It costs hundreds of dollars per month to place the confidential "blind" ads on these websites. In addition to the websites, CBI prepares and implements a customized marketing plan for each business ​we list for sale.

​CBI also prepares a monthly report for each business owner we represent. The monthly report provides detailed information about each business listing.


Business ListingsLast MonthLast 12 Months
Total Number of Views11,102120,204
Avg. Views per Listing2312,245
Total Email Inquiries53651



cbiteam.comLast MonthLast 12 Months
Total Number of Visitors1,21312,649
Total Number of Views1,98730,073



Monthly NewslettersLast Month
Total Newsletters Sent12,423

Company Profile

The CBI TEAM is the largest business brokerage network in Arkansas, Oklahoma and Virginia. Since 1994 CBI has helped people sell and buy businesses in one of the nation's fastest growing regions. Offices in Northwest Arkansas, Central Arkansas, Fort Smith, Arkansas, Tulsa, Oklahoma and Richmond, Virginia make the CBI TEAM one of the largest business brokerage firms in the USA.

The CBI TEAM manages the entire business sales process, from helping Business Owners arrive at a reasonable, market-driven price for the business, to helping Business Buyers arrange financing so that the Seller gets the most cash at closing. 

The CBI TEAM is the one-stop intermediary for all business sellers and buyers.

Carl Grimes, Office Owner
Serving the Northwest Arkansas area
Contact us at (479) 770-8989 or carl.grimes@cbiteam.com

Connor Grimes, Office Owner
Serving the Central Arkansas area
Contact us at (501) 404-4980 or connor.grimes@cbiteam.com

Mark Kincannon, Office Owner
Serving the Fort Smith/River Valley Arkansas area
Contact us at (479) 784-9522 or mark.kincannon@cbiteam.com

Roy Still, Office Owner
Serving the Tulsa, Oklahoma area
Contact us at (918) 940-6437 or roy.still@cbiteam.com

Casey Grimes, Office Owner
Serving the Richmond, Virginia area
Contact us at (804) 299-0301 or casey.grimes@cbiteam.com