BUYING A SMALL BUSINESS

Business for Sale Update

An all-cash deal and a cross-country move
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Last May, we profiled Dream Essentials, a company that sells white-noise machines, maternity pillows, and other sleep aids. Founders Adam Boyce and Trina Greenbury sold the company in June to Mark and Karen Powell. The two couples met for five days to go over the operations. The Powells then moved the company from Rainier, Washington, to Morrisville, North Carolina, over the Fourth of July. They shipped key inventory by air and packed the rest into a 52-foot semi. As December approached, the company was on track to end the year with a 10 percent increase in revenue, led by the wholesale business -- hotels and pharmaceutical companies have been buying sleeping masks to use as promotional swag. As for the sellers, they admit that retirement has been fitful. "We find ourselves constantly checking our inboxes, even though the sun is out and birds are singing," says Boyce.

Time on the Market: 9 months

Asking Price: $1.8 million

Actual Price: Undisclosed, but less than the asking price

Revenue Projection, Postsale: +10 percent, to $1.3 million

Last updated: Jan 1, 2009




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