Business sales in Fresno County fell from 2016 to 2017, according to BizBen.com.
Written by Edward Smith
Fresno County small businesses are seeing a month-over-month increase in the amount of firms sold, but also a year-over-year decrease, according to information from business sale website BizBen.com.
BizBen.com, which lists small businesses for sale, reported that 33 Fresno County businesses were sold in December of last year compared to 32 in November.
The most popular searches during December for people looking to buy businesses were topped by laundromats, self-serve car washes and absentee-run businesses, in that order.
- Laundromats – Card & Coin
- Car Washes – Self Serve
- Absentee Run Businesses
- eCommerce Websites
- High Adjusted Net Businesses (Over $100K)
- Convenience Stores
- FSBOs – For Sale By Owner
- Liquor Stores
- Gas Stations
- Service Based Businesses
The upward trend in transactions wasn’t apparent on an annual basis.
Forty-eight Fresno County businesses were sold in December 2017, a 31-percent decrease from December 2016. The same trend held true for all of 2017, as 387 businesses were sold in Fresno County last year, compared to 489 businesses in 2016.
What BizBen founder and president Peter Siegel has found through consulting with buyers and sellers is that a lot of businesses in Fresno County are selling to outside buyers — something to the tune of a 50-50 split between local and out-of-town buyers.
“What we’re seeing is people from major metro areas coming in and buying businesses because cost of living is less and the lifestyle is better,” Siegel said.
As a whole, California saw a 0.58-percent annual increase of businesses sold, from 16,858 in 2016 to 16,956 in 2017.
The factors that the bizben.com has found to be affecting the number of sales based on consultations with buyers are as follows:
- Consumer (Business Buyer) Sentiment – Up – More Likely To Buy A Business
- Home Prices Moving Up – More Access To Real Estate Equity
- Interest Rates Holding Steady
- Retirement Savings – Uptrend – More Access To Capital
- SBA Loan Financing Easier To Obtain To Buy A Business
- Small Business Owner (Seller) Sentiment – Up – More Likely To Sell
- Stock Prices / Market – Uptrend – More Access To Capital