Asking Prices For Small Bizs On Decline
The Dallas Morning News:
To all the usual reasons that small businesses are put up for sale – personal problems and personnel squabbles among them – add economic woes this year. But even as for-sale listings rise around the country, so is buyer interest.
“When economic times get tough and people can’t find a job, they will go out and buy a job,” said Ronald Hottes, president of the Business Team, a broker in Torrance, Calif.
The problem for owners is that prices appear to be softening.
The nation’s largest listing site, bizbuysell.com, recently had 50,000 businesses for sale, vs. 43,000 the same time last year, said Michael Handelsman, bizbuysell’s general manager.
Brokers say buyers are often retirees looking for a second act, or laid-off executives looking for a business to run.
Retirement, illness, divorce, death – and simple burnout – still drive the majority of owners to sell, but in the rocky economy, some otherwise […]
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