Chicago Business Broker Blog

Aug 12, 2008, Printing Company for Sale

Well Established, Profitable Wholesale Printing Company for Sale in Chicago Suburbs

Aug 6, 2008, Confidentiality Agreement

Why is it Necessary to Execute a Confidentiality Agreement when Inquiring into a Business for Sale?

Aug 6, 2008, Personal Financial Statement

Why is it Important to Disclose a Basic Personal Financial Statement when Buying a Business?

Aug 5, 2008, Ice Cream Stores for Sale

Profitable Retail Ice Cream Stores for Sale in Chicago - 2 Locations!

Jul 31, 2008, Increase Business Value

Learn More about How to Increase Business Value if You're thinking of Selling a Business.

Jul 29, 2008, Laser Hair Removal Business

Profitable Laser Hair Removal Business with Two Locations for Sale in Chicago's North Suburbs

Jul 18, 2008, Restaurateur Tips & Trends

Here are some of the latest tips and trends for bar & restaurant owners to keep in mind for maintaining their competitive edge:

1. Add Televisions - McDonalds is starting to implement this... Out-of-home television has become more popular and restaurants are capitalizing on it.

2. Tea is Popular - Demand for tea continues to rise and experts anticipate sales to reach $15 billion by 2012. Beverage companies are increasing marketing efforts for their ready-to-drink tea products.

3. Eco Friendly packaging - Burger King will begin using eco-friendly packaging for Kid's meals. Studies show that this concept gains a lot of support from consumers today.

4. Coupons - In economically turbulent times, offering incentives and discounts drive traffic. Starbucks is launching a massive coupon campaign for the first time in it's history.

Source: Food Industry News, Technomic Inc, Advertising Age, NRA Smartbrief

Jul 14, 2008, What's for Dinner?

Roughly 28% of consumers haven't decided what they will have for dinner two hours before-hand, on weekdays. That number increases to 35% on weekends.

Oftentimes these late dinner-decider's end up purchasing quick-service, takeout and delivered meals, which end up being more expensive options than cooking at home.

Source: Food Industry News & NRA Smartbrief

Jul 14, 2008, Minimum Wage Increase in July

Attention business owners, the federal minimum wages will increase from $5.85 an hour to $6.55 an hour starting July 24th, 2008.

Jul 9, 2008, Hand Car Wash for Sale

Long Established, Profitable Hand Car Wash for Sale in Chicago

Jul 9, 2008, Sports Bar for Sale

Chicago Suburban Sports Bar for Sale with Property in a Great Location

Jun 27, 2008, Process of Selling a Business

Find out More about Our 6 Step Process of Selling a Business

Jun 26, 2008, Chicago Housing Sales Down 29%

According to the National Association of Realtors, Chicago housing sales were down 29% in May '08, compared to May '07.

In the nine-county Chicago region, home and condominium sales totaled 6,927 in May, compared with 9,751 sales in May 2007, the Realtors’ group said in a release Friday.

Statewide sales fell 22.9% in May, to 11,173 homes compared with 14,493 in May 2007, the Realtors’ group said. The median sale price statewide was $190,000, down 7.3% compared with April 2007.

Chicago-area sales in May were up 13.7% compared with April, according to the release. May’s statewide sales were up 17.3% over April.

Source Associated Press & Crain's Chicago Business

Jun 24, 2008, Taste of Chicago Vendors feeling the Pinch

Many food vendors which showcase their delicacies every year at the 10-day Taste of Chicago in Grant Park are feeling the pressures of higher costs, from food and energy price increases. Some say their costs are 20% higher than last year.

In addition, it now costs $4,000 in fees to set up shop for this gig. Primarily due to regular vendors and coordinators pushing to raise funds to attract bigger names in performance, like this years lineup: Stevie Wonder, Joss Jones, and the Plain White T's.

Taste of Chicago requires that average menu items be set at $3.75, with nothing set higher than $5.00.

Restaurant owners will unfortunately have to live with lower profit margins, but hey - this event adds up to world-class marketing and exposure.

Marc Malnati, co-owner of Lou Malnati’s Pizzeria, said he recently tried to lobby for price adjustments, but was unsuccessful.

“We’re not going to lose money,” Mr. Malnati said. “We’re just not going to have as big of a profit.”

As it did at last year’s Taste, Lou Malnati’s will sell a slice of pizza for $3, in spite of higher costs for flour and cheese.

“We get thousands of people to try our product,” Mr. Malnati said. “That’s the benefit.”

Source: Crain's Chicago Business

Jun 20, 2008, Pizza Business for Sale

Established Take-Out & Delivery Pizza Business for sale in NW Suburbs of Chicago

Jun 20, 2008, Mortgage Fraud - 67 in Chicago Arrested

The Justice Department unveiled theOperation Malicious Mortgage, an initiative designed to stem fraud that has cost borrowers who were victims an estimated $1 billion.

Thirty-three defendants in Chicago, in two related cases with what federal prosecutors called "the same alleged ringleader." They said the cases involved fraudulently obtained loans totaling $111 million for 183 homes stretching from the Chicago suburbs to Nevada and California.

Three defendants charged with scheming to fraudulently obtain mortgages on 28 properties totaling more than $40 million from large banks and mortgage companies. Prosecutors said losses totaled $6 million.

A dozen defendants accused of fraud and identity theft for allegedly using stolen and bogus identities to obtain more than $3.2 million in home loans.

Prosecutors said the dozen new cases filed in the Chicago area since March should show that the government has made cracking down on mortgage fraud a high priority.

Source: Crain's Chicago Business & Associated Press

Jun 17, 2008, Bars for Sale

Find out More about Bars for Sale and Rules of Thumb for Buying and Selling them.

Jun 17, 2008, Restaurants for Sale

Find out More about Restaurants for Sale and Rules of Thumb for Buying and Selling them.

Jun 17, 2008, Mobile DJ Entertainment Business

Chicagoland Mobile DJ Entertainment Business - A Well Oiled Machine with over a Dozen DJ's

Jun 17, 2008, Healthier Food on the Way

According to the Food Industry News, the New York City Board of Health made a unanimous decision that requires the removal of artificial trans fat from restaurants and other food/beverage businesses.

Chicago and major cities in California have made it clear that they will follow this precedent soon.

Partially hydrogenated oils(trans fats) being removed from the food will require some overhauls of recipes, with claims of it being more than just one ingredient being changed. It will definitely change the texture and taste of certain foods as well as the cost.

Experts have told us for years that trans fats are worse for the heart and blood than saturated fats. The FDA estimates that the average daily intake of trans fat in the US population is about 5.8 grams a day. This accounts for 2.6 percent of calories per day for people over 20 years old.

According to the Harvard School of Health, eliminating trans fats from the US food supply could prevent between 6 and 19 percent of heart attacks and related deaths each year.

Jun 13, 2008, Oops, I hired a Realtor instead of a Business Broker!

I've been representing a few business owners looking to expand recently. They missed out on some nice listings I just sold and asked if I could help them find another one.

After checking with other business brokers I'll turn to the MLS and see what the Realtors have listed.

It's amazing how many Realtors are blowing confidentiality by posting the name and location of the business right in the ad. But the real irony is that they spell out in the ad that the listing is CONFIDENTIAL!

I've heard the objection from sellers that our commissions as business brokers, 10%, is too high and their going to go with a Realtor thats only charging 4-5%.

Well, you get what you pay for.

Bad exposure, inexperience when it comes to business valuation, and if they are lucky enough to sell - a Low sales price.

As a business owner thinking of selling you have to ask yourself, whats more important - experience and quality, confidential service, better chance to get the highest sale price - or paying a smaller commission?

Jun 10, 2008, C-Stores and Small Grocery opportunities

According to Supermarket News, a recent study shows that 64% of consumers are likely to patronize smaller grocery stores that have a focus or emphasis on convenience and and fresh, prepared foods. The small-store trend is part of an ongoing change in the retail food sector.-adapated from Food Industry News

Jun 10, 2008, Economic Predictions from The Kiplinger Letter

*The Prime Rate will be at 5% at mid 2008 and 10 year T-Notes will yield 10%.
*The inflation rate should settle at about 3% in 2008
*Job growth should fall to 100,000 for 2008.
*Crude Oil will average $92/barrel in 2008.
*Housing sales will fall 10% in 2008.
*Retail sales growth at 2% this year.

Jun 9, 2008, Furniture Store for Sale

Chicago Furniture Store for Sale. 2 Established and Profitable Businesses in One!