ROCKY MOUNTAIN TELECOM SERVICE
Date Featured: March 2001
Annual Sales: $14,144,000
Asking Price: $6,000,000
Inquiries: About 15
Result: No longer on the market. The broker says: "The owners signed a letter of intent with a buyer who came to them through a personal contact. That deal dragged on for months but fell apart for lack of financing, and by then the other interest had cooled."
NORTH CAROLINA-BASED PHOTO STUDIO
Date Featured: April 2001
Annual Sales: $121,000
Asking Price: $200,000
Inquiries: A few
Result: No longer on the market. The seller is diversifying into high-growth business lines. "The company was too small to attract buyers from outside the region," says the broker.
MARYLAND DAY SPA
Date Featured: May 2001
Annual Sales: $400,000
Asking Price: $195,000
Inquiries: 9
Result: Still listed for sale, at a reduced price of $160,000. "We had three decent offers, but the deals dragged," the broker says.
COASTAL CALIFORNIA ART GALLERY
Date Featured: June 2001
Annual Sales: $2,009,313
Asking Price: $500,000 for the gallery, shops, and restaurant; $3 million for the commercial real estate; $8 million for the art collection; and $1 million for the home site
Inquiries: About 35
Result: Still listed for sale. The seller says: "There was a lot of interest, but people felt that the business's cash flow didn't justify the cost of the real estate. So I've now concentrated on a high-growth business plan."
ROCKY MOUNTAIN FURNITURE MANUFACTURER
Date Featured: July 2001
Annual Sales: $1,352,000
Asking Price: $1,200,000
Inquiries: 46
Result: Still listed for sale, at $900,000 for a two-thirds stake. The broker says: "Sometimes there's so much interest that sellers become excessively optimistic. One owner decided to hold on to his stake, but his partners are thinking realistically."
EAST COAST HERBAL SUPPLIER
Date Featured: August 2001
Annual Sales: $13,735,000
Asking Price: $9,000,000
Inquiries: About 50
Result: No longer listed for sale. "The business was healthy and profitable, but there was so much debt that it scared buyers off," the broker says.
WEST COAST SAILBOAT MANUFACTURER
Date Featured: September 2001
Annual Sales: $6,100,000
Asking Price: $4,000,000 to $5,000,000
Inquiries: About 40
Result: Still listed for sale. The broker says, "The article appeared right before 9/11, which sort of dampened any serious interest while also negatively affecting pending orders."
MID-ATLANTIC TRAVEL AGENCY
Date Featured: October 2001
Annual Sales: $268,526
Asking Price: $198,000
Inquiries: 1
Result: No longer listed for sale. The broker says, "With the economy already down, then September 11 -- one of the first things people worried about was the travel industry."
EAST COAST USED-BOOK STORES
Date Featured: November 2001
Annual Sales: $248,000
Asking Price: $140,000
Inquiries: 6
Result: Still listed for sale. "We had an accepted offer on one of the stores for better than half the asking price, but the deal fell through," the broker says.
Note: Annual sales are as reported in Inc's Business for Sale column.
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Related Links:
Guide to Selling a Business
