05 Mar What is Still Selling?
BizBuySell, in addition to being the leading web site for business brokerage advertising of businesses for sale, provides a lot of information on business sales. This information is available to anyone just be going to their web site.
For example, a recent article reported what sold in 2014. It stated the following:
- Restaurants and bars represented 58% of all of the retail businesses sold within their system.
- 18% of retail businesses sold were C-Stores, liquor stores, markets and other food stores.
- 11% of service businesses sold were coin laundries and dry cleaning businesses.
- 10% were health, medical or dental businesses;
- 9% were beauty shops or barber shops;
- Another 9% of service businesses sold were auto repair related businesses.
- 2.1 % of businesses sold were wholesale.
- 4.2% were manufacturing.
- 3% were internet related businesses.
We think you get the point. Despite all of the tech related business, despite business brokers doing M&A deals, and despite what seems to be a lack of interest in “main street” type businesses – guess what is still selling?
You guessed it – Main Street. When we visit with people who have just entered the business or who are seriously considering it, we point out that selling main street businesses is still alive and well. With the exception of a new broker who brings a special knowledge allowing him or her to specialize in a particular business, we try to sell all new brokers on working in main street type businesses, at least until they get a few sales under their belt.