Beimfohr, CBI, brought numerous interested buyers to the table and successfully negotiated a sale for a Baby Boomer wanting to retire. Baby Boomers looking to retire is a growing phenomenon in business brokerage.
Contact: Domenic Rinaldi
Address: 8745 W. Higgins Road, Suite 220, Chicago, IL 60631
Phone: 773-243-1603
Email: drinaldi@sunbeltnetwork.com
URL: www.chicagolandsunbelt.com
Chicago, February 1, 2011 – Chicagoland Sunbelt and Kathy Beimfohr, Certified Business Intermediary and Broker at Chicagoland Sunbelt (www.chicagolandsunbelt.com) were contracted by an owner of an electronic education business to handle the sale of his business. The successful transaction was completed in the last quarter of 2010. The seller wished to retire and needed to transition his business to a new owner. In addition to operating a business he founded and ran for seventeen years, the sale of his business provided funds for retirement. This transaction is part of a growing trend. In 2011 the oldest Baby Boomers turn sixty-five. There are seventy-six million Baby Boomers in the United States. The business community is looking at a period of businesses ownership transition as business owners look to sell one of their major assets –their business- and move on to retirement.
The seller founded the business seventeen years ago. The product serves the continuing educational needs of school administrators and superintendents. The seller gathered relevant educational theory and practice content from today’s leading experts. Interviews with leaders in education and business were the highlight of each edition. The unique content is delivered by DVD or streamed from the web. Three states have contracted with this business to supply continuing education to their education professionals statewide. “This company truly provides the first anytime/anywhere resource for busy administrators and educators,“ says Beimfohr, “making it extremely convenient and highly accessible information that is required for continuing education credits.”
Over one hundred interested buyers contacted Beimfohr and Chicagoland Sunbelt with interest in learning more about the business. This business was a truly one-of-its kind educational format with consistent revenues and a tremendous opportunity for growth. The combination of the industry served and the state-of-the-art distribution made the business very attractive to business buyers. Fifty-seven potential buyers actually were shown the business. Multiple offers were generated that produced successful results: the business sold for full asking price. The buyer and seller worked out a satisfactory transition including consulting from the seller as the buyer got up to speed and put his future plans in place.
“The interest in this type of business was remarkable”, says Beimfohr, “due to its position on the forefront of technology and the fact that it meets a consistent need of our nation’s educators.”
“It is important when considering the sale of your business to find the team that is right for you,” stated Domenic Rinaldi, Managing Director of Chicagoland Sunbelt, “and Kathy Beimfohr really provides leadership to sellers in a potentially stressful time. Her designation as a Certified Business Intermediary demonstrates her commitment to being a transaction professional.”
About Kathy Beimfohr
As a former business owner, Beimfohr brings extensive knowledge and experience that supports her ability to assist buyers and sellers alike meet their objectives. With seven years of experience at Sunbelt, Kathy has assisted numerous business owners in the confidential sale of their business ranging from main street operations to multi-million dollar enterprises. In her role as an intermediary, Beimfohr is able to identify key issues in the process of selling, create marketing strategies that bring results, negotiate offers, and work closely with a client’s advisors such as attorneys, CPA’s and others to help ensure a smooth and successful transaction.
She is a member of the International Business Brokers Association and has been awarded the professional designation of Certified Business Intermediary. This designation is earned through the IBBA who maintains industry standards within the business brokerage industry in order to ensure that professional conduct and ethics is extended to clients at all times.
About Chicagoland Sunbelt
Chicagoland Sunbelt is a business brokerage firm that focuses on helping people buy, grow and sell businesses in Chicagoland and the surrounding Midwest. Having sold hundreds of businesses, Chicagoland Sunbelt specializes in a broad range of industries, including business services, distribution, food & beverage, franchises, personal services and retail. Its experienced team of M&A brokerage consultants also develop and execute comprehensive strategies designed to meet individual financial and non-financial goals.
Chicagoland Sunbelt is also a proud member of Sunbelt Midwest, which operates offices in Minnesota, Wisconsin & Illinois. For your next business purchase or sale, visit Chicagoland Sunbelt at www.chicagolandsunbelt.com.
About Certified Business Intermediaries – Source: International Business Brokers Association
A Certified Business Intermediary, or CBI, is the designation awarded by the International Business Brokers Association (IBBA) to members that have met select educational requirements and ethical standards. IBBA, with 1,500 members worldwide, is the largest international, non-profit association operating exclusively for the benefit of people and firms engaged in the various aspects of business brokerage and mergers and acquisitions.
With the skills necessary to handle the marketing, negotiations and complex details involved, a CBI can successfully complete the purchase or sale of your business. A higher level of education and training means that a CBI will have more access to people and information than other business brokers. A CBI has professional affiliations with hundreds of other intermediaries in addition to the most current industry information regarding taxes, government and legislation.
A CBI’s experience and knowledge of current marketplace conditions is critically important when it becomes time to sell a business.
