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INCREDIBLE HIGHLIGHTS FROM

THE 2024 CABB CONFERENCE

I was deeply honored and privileged to Chair our annual California Association of Business Brokers (CABB) Conference in Newport Beach for 2024.  As current Board Member and President Elect it was exhilarating to announce an amazing accomplishment and milestone: we had our largest conference in both attendance and Sponsorship/Exhibitor participation.  By all accounts, it is most likely the largest State Business Broker Association in the United States in 2024.  With 242 attendees and 33 Sponsors/Exhibitors, it was a packed house! 

Events such as this remind me how incredible our industry is and how blessed I am to be a part of this story.  I am honored to be surrounded by the most seasoned brokers who share their expertise and “secret sauce” with fellow brokers.  Competition is set aside because education and professionalism benefits everyone.  It’s because of this generosity in knowledge, wisdom and skills that our office has become one of the top-performing Business Broker Firms in California.  And I appreciate every broker, partner and teammate who helped us achieve this incredible accomplishment.  There is no competition, there’s just incredible service and contributions to knowledge and growth. 

This event was truly historic!  Thank you to the CABB Board of Directors and Conference Committee for contributing to such a successful and power packed event!  And an extra special shout out and thank you to Ryan Ottosen, Kelsey Ostrow, Randall Von Ornam and Maggie Furrow for helping create a smooth and seamless event!  You made it incredible! 

This event was remarkable, and now we need to crush our own record!  Let’s make next year’s CABB Conference bigger than 2024!  Who’s joining us in Santa Rosa, CA on 9/25-9/26 in 2025??

 Sunbelt Business Brokers Pasadena attendees: Greg Michail, Iris Chen, Angelica Michail,

Juliette Ormberget, Frank Costa, Edward Hakopian

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EDUCATIONAL HIGHLIGHT:

How to Prepare Your Business for  Sale

Selling your business is an exhilarating, often overwhelming, life-changing event.  And with such significance, it’s alarming how many businesses spend little time and effort to prepare their business for sale.  Selling a business is like selling a home, the buyers want and need to know many aspects of the purchase beyond the financial health.  They need to know the viability of the business and various moving parts, which helps you maximize the value of your sale. 

So where do you start and how do you move forward with a successful sale?  Here at Sunbelt Business Brokers, we have a roadmap that we love to share with existing and prospective clients and partners.  It is designed to help you focus on the initial areas that should be evaluated when you are preparing your business for sale.  Think of this as a getting started list, to align your priorities with your vision for your sale.  It includes four steps that guide you to ensuring that your business is as attractive as possible. 

Step 1 includes your legal and tax housekeeping.  Although this is the part that most owners like to avoid, it is one of the most crucial first steps.  Your goal is to eliminate all tax and legal complications to the best of your ability.  It includes steps like ensuring your ownership documents are current and accurate, ensuring all taxes are current and confirming that your current legal structure is optimal for your sale.  Buyers don’t like to purchase businesses with red flags associated, so this step ensures those issues are addressed early.  Step 2 includes strengthening your business’ bottom line.  You can achieve this by raising prices or cutting expenses (or both if you prefer).  First analyze your existing business model to determine if profits are shrinking.  And remember, a savvy buyer may think a price hike is a hollow scheme to improve your bottom line.  So be ready to share your logic with your approach.  As for expense cutting, there are a variety of actions that you can take, including reassessing your existing vendors and their fee structures as well as getting competitive quotes for your insurance policies. 

Step 3 focuses on the aesthetics of the business.  Perception is reality for buyers, so you must ensure the perception of your business adds to its value.  When evaluation your business and its impression, consider your website – it is professionally designed and updated?  Are there negative reviews of your company online?  Are marketing materials current?  It’s time to spruce up your business and sharpen its appearance.  And finally, Step 4 focuses on the next steps in your life beyond your business.  It outlines the next phase of life, including whether you intend to stay involved in the business or want an immediate exit.  This is a fun step, because you get to plan how your future will look.  Will you travel?  Will you assist with the transfer of ownership and ownership duties.  What role will you play?  This can be a crucial step in the overall structuring of your deal.

Although this is not an exhaustive list; it is a preliminary guide that leads you through the first steps of preparing to sell a business.  If you are interested in learning more, please contact our office and we'll gladly share our step-by-step White Paper with you.  And remember that Sunbelt Business Brokers Pasadena is here to guide you through the process and maximize your return.  Reach out to us and we'll help you understand the current value of your business and the entire process to prepare for a future sale.  We'll work side by side with you to make your business shine!  

GIVEBACK HIGHLIGHT:

Valley Housing Partners

What do the homeless need?  A place to call home.  Valley Housing Partners (VHP) was started to answer this question.  VHP's purpose is to provide a place to call home for the homeless families in the San Gabriel Valley.

VHP was incorporated on April 9, 2009 and received its 501 c3 status in 2010.

Homeless families often bear the stigma attached to being homeless.  It is unfortunate that our society often equate homelessness with lack of character.  The reason families lose their homes has more to do with our society's economic and social structure.  Job loss, medical bills, domestic violence and lack of affordable housing cause homelessness.

VHP works with social agencies and churches to provide support services.  We rely on the generosity of friends, churches, foundations and business organizations for donations. 

As of 2020, VHP helped 16 families.

For more information or ways you can contribute, visit:

Valley Housing Partners

    ~ LISTINGS HIGHLIGHTED ~

National Franchise Cleaning & Restoration

Price: $925,000

Operating successfully in Southern CA, this company specializes in disaster restoration, offering comprehensive cleanup and repair services. #56469-FC

VIEW LISTING

Music School and Math Tutoring in West San Gabriel Valley

Price: $99,800

Private, independent music school and math tutoring center has been in business for 30 years and is ready for a new owner. #55426-IC

VIEW LISTING

Specialized Printing & Sign Company in the Inland Empire

Price: $600,000

This 40+ year old Commercial Printing company has seen Year-Over-Year growth of revenue.  #55959-GM

VIEW LISTING

Custom Window Covering - Retail & Installation in West SGV

Price: $250,000

Custom window covering retailer and installer has served the West SGV for 21 years.  #55478-IC

VIEW LISTING

Eco Luxury Salon & Spa - Turnkey Beauty Business

Price: $99,000

Beautifully appointed and bright beauty space opens to plenty of foot traffic near Burbank Studios. #54755-JO

VIEW LISTING

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