How to Buy a California Business.
Dublin, CA (Vocus) September 29, 2010
Updated tools for people wanting to purchase small and mid-sized California businesses have been launched on BizBen.com to improve the likelihood and the speed at which users can find and successfully purchase appropriate businesses to buy.
“With the employment picture so bleak, more and more Californians are interested in buying and operating a business of their own,” said Peter Siegel, MBA, CEO and Founder of http://www.BizBen.com, the state’s leading online clearinghouse for small and mid-market businesses and resources for business buyers and owner/sellers.
“The Business Buyer Success Program was created and added to the BizBen Network to help buyers beat the odds against them so they are not among 80% of would-be entrepreneurs who fail to find and successfully buy the right company.”
A timely feature of the business buyer success program is help getting SBA pre-qualified in anticipation of improved access to money from business lenders in the next few months. Increased availability of funds for business purchases is a benefit of the new Federal Small Business Jobs and Credit Act of 2010.
Additionally, the updated online tools enable a buyer to tap into the entire market of available listings--discovered by less than 1/3 of active buyers, to receive immediate notification when targeted businesses for sale come on the market, and to get one-on-one consultation for ideas about purchasing small California Businesses.
“The program also helps a buyer to be fully prepared when he or she gets into the market,” said Siegel. “A surprising number of people who do find the perfect business are unable to complete a deal on it simply because they aren’t as well prepared as someone else who’s also interested in the company.”
Siegel noted there are two levels of participation in the Business Buyers Success Program: A free membership to the network for those who might be just entering the market with a possible interest in buying a business; and the Buyer Pro Program that includes a higher level of support along with a copy of Siegel’s popular book, “How to Buy a California Business.” One time fee for the pro version is $49.
He added: “I’ve been advocating these measures in consultation with buyers for the past several years. The statistics we’ve compiled over that time show that buyers who have followed these suggestions have a four to one better chance than those who do not, of buying a business. We’ve also learned buyers equipped with these ideas enjoy a shorter search time (two to eight months vs. six months to two years), and a considerably lower risk of having a deal fail before completion.”
BizBen has been an important factor in California’s sale of small and mid-sized businesses since 1994. It is comprised of 1) http://www.BizBen.com a vibrant online clearinghouse offering 7,000+ California businesses for sale (with 200 new listings added daily), plus valuable information and ideas provided through a daily blog, webinars, articles and online radio programs; 2) BizBen Network of 16,000 business buyers, 4,000 business owners/sellers, 1,800 brokers, agents and intermediaries, and 600 advisors/resource providers; and 3) BizBen Index which gathers small business sales data throughout the state and provides vital, up-to-the-minute statistics regarding the sales of small and mid-sized California businesses.
For More Information
Contact: Peter Siegel
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