"I wish I had known that.” At VBB Advisors, the leading sell side broker for the convenience services industry, we often hear those words from operators after they sold their business without our assistance. Usually, the seller’s remorse comes from three big mistakes that are easy to avoid. Big Mistake #1 – Going it alone As an operator, you were successful in business. That’s why you can now sell your company, a highly coveted possession that you have worked hard to build. O

Most business owners are selling for lifestyle, not financial, reasons. Common lifestyle reasons are retirement, becoming tired of the business, health, or the need to move elsewhere. The reason we say that these are lifestyle reasons rather than financial is that the motivation is based on lifestyle considerations, rather than financial. In most business sales of a successful business, the return on the sale proceeds, after taxes on the sale price, will be less than the owne

The Mid South region of Canteen led by Tim Bailey has acquired Vendable Systems of Rock Hill, SC in a cash transaction. Vendable Systems was founded in 1983 by Tom Bucher and Terry Durling. They are headquartered in Rock Hill, SC and have a second facility in Columbia SC. From those locations they provide vending and micro markets throughout the Charlotte and Columbia regions. Canteen is leasing the Vendable Systems warehouse facility in Rock Hill and will operate a branch fr

It is important to understand the various aspects of confidentiality when it comes to selling a business. This can involve understanding what to disclose and when, and the legal obligations that need to be met by business sellers. Knowing What to Disclose and When Knowing what to disclose and when can have a significant impact on the sale of your business, so hiring a business broker who can advise on such matters is an important step. From a buyer’s perspective, they want to

The quarterly IBBA and M&A Source Market Pulse Survey was created to gain an accurate understanding of the market conditions for business being sold. The national survey conducted and compiled by the Pepperdine Private Capital Markets Project is intended to provide a valuable resource to business owners and their advisors. The following graphs and charts provide highlights of the most recent quarter and provide some guidance as we enter 2019 and beyond. If you are interested

The following is an excerpt from investor Brent Beshore’s recent book, The Messy Marketplace: Selling Your Business in a World of Imperfect Buyers. Beshore is founder and CEO of adventur.es, a Midwestern-based permanent equity firm. As a seller, it can be easy to fixate on the numbers. “My business is worth X. I’m going to get Y cash at close.” These figures will represent some of the largest you’ve seen in your lifetime. The focus on valuation is understandable, but remember

CRH Catering, based in Connellsville, PA, has acquired the operating assets of Crescent Vending Service. Crescent was owned and managed by Mark and George Craney serving the greater Philadelphia market. The Craney's will join CRH in strategic roles. CRH Catering is a full line industrial catering and food service company established in 1968. CRH Catering has grown from a local company started in Connellsville Pennsylvania to one of the largest automatic food and beverage dist

Two obvious and essential drivers of business value are business profits and growth potential, but eliminating risk and increasing the quality of your business can also make a dramatic difference in the value. Owners should review all facets of their businesses for improvement. There are three common and critical areas that deserve scrutiny regardless of industry. Here is a partial list of best practices in each of these areas: Human Capital: ▪Recruit and hire a talented mana

Aqua Filter Fresh has acquired the operating assets of Pittsburgh Water Cooler Service. Founded by Dan and Linda Konop, Pittsburgh Water will continue to operate an online business providing parts and equipment related to bottled and filtered water. Aqua Filter Fresh was founded in 1981 by William and Kathleen Bell. Over the years the business has diversified with the addition of Tyler Mountain Spring Water and a full-line office coffee service. Aqua Filter Fresh will consoli

Pflugerville, TX based Accent Food Services has acquired the assets of Central Vending Services of Gaithersburg, MD. This acquisition marks the 1st acquisition of this year for Accent Food Services and the third add-on for the Company’s Mid-Atlantic Division. Over the past year we have been focusing on the integration of our acquired companies, investing in infrastructure including our facilities, people, and technology, and growing our base. It is exciting to get back to imp

Canteen Corporation has acquired the operating assets of Gulp-It! of Houston, TX. Gulp-It, founded by George & Laura Grobowsky, serves the greater Houston area with vending, micro markets and pantry service. Mr. Grobowsky will assist Canteen during the transition. The Gulp-It operation will be absorbed into Canteen's existing Houston branches. The transaction was facilitated by Mike Kelner of VBB Advisors. #buyervendingbusiness #vendingvaluation #mergersandacquisitions #bus

Charlotte, NC – The International Business Brokers Association (IBBA) is pleased to announce that Michael Kelner of VBB Advisors, LLC has earned the prestigious Certified Business Intermediary (CBI) designation. The CBI, which represents the gold standard in the business brokerage industry, is granted to individuals who complete required course work, pass an extensive competency exam, and agree to uphold the IBBA’s Professional Standards and Code of Ethics. “Earning the CBI

There are several specific places where companies routinely stub their toes when making acquisitions. Get them right instead — and your prospects will soar. 1. People Acquisitions rise and fall on the quality and dedication of the people called upon to carry them out. For this reason, successful acquirers begin to address their people issues almost immediately upon identifying a target. Start with your executive leadership team. Determine the composition of the new management

Canteen Corporation has acquired the operating assets of G&C Coffee and Vending based in Fort Worth, TX in a cash transaction. G&C was founded and owned by Greg and Connie Durheim. Mr. Durheim has agreed to join Canteen in a supervisory capacity. Canteen will integrate G&C into their existing Grapevine, TX location. Canteen continues to pursue accretive acquisitions throughout the United States. The transaction was facilitated by Mike Kelner of Vending Biz Broker/VBB Advisors

When selling a business, time is not your friend. Time is the enemy of all deals. In fact, "time wounds all deals" is an expression that can be associated with many different industries, but is especially relevant to business acquisitions. So, the key to a successful deal is to prepare well, come out strong and maintain momentum throughout the business sale process. The deal clock is set in motion as soon as your company hits the business-for-sale market, not later in the pro

Selling a business is a very daunting task. It is hard to be objective when you have devoted five, ten, twenty or more years towards creating and growing a business that has enabled you and your family to live comfortably. But during this time period, you have built up unrealized wealth that is tied up in the equity of your business. Only by selling your business can you adequately extract that equity and convert it to liquid assets. The process is very time consuming and ver

Aramark Corporation has acquired the operating assets of Irvine CA based Elite Coffee Service. Elite was founded in 2008 and owned by John and Gwen Stavros. The Stavros' will be pursuing other interests in Southern California. Aramark will be integrating the Elite operations into their existing Southern California branches. Aramark continues to pursue accretive acquisitions throughout the United States. The transaction was facilitated by Mike Kelner of Vending Biz Broker/VBB

"Should I sell the family business?" is a question that all owners ponder at various times. There are certainly situations where selling the family business is the best answer; in some cases, it may be the only answer. It is also important to note that selling the family business is not failure. Unfortunately, statistics that measure survival rates of family business tend to equate selling the family business with its demise. While the business has not “survived” in terms of

It would be nice to live in a world where every business-for-sale was sold at top dollar. While there is no such thing as a perfect business free from all defects, there are several problems that can hinder a sale that could be remedied, if given enough time. Following is a list of reasons which are often cited as contributing factors in an unsuccessful sale or a completed deal for less than potential value. UNREALISTIC EXPECTATIONS Valuation: The listing price of a business

#buyervendingbusiness #vendingvaluation #mergersandacquisitions #businesssales #vendingbusinesssales #vendingbusiness