Burt Evans, Business Broker at Chicagoland Sunbelt, Completes Sale of Limousine Service
Burt Evans completes his sixth sale of a business in 2010.
Chicago, IL, February 02, 2011 --(PR.com)-- Burt Evans, Business Broker at Chicagoland Sunbelt, (www.chicagolandsunbelt.com), recently completed brokering the sale of a Chicago based limousine business. The business had a stellar history of customer service. The limousine service specialized in a specific geography and was known as a dependable, trustworthy service. The seller was interested in selling the business in order to take the burden of ownership off his shoulders but was interested in continuing with the business.
Because of the geographic focus of this business, Evans made the decision to market the business to other limousine companies looking to expand their reach. An interested party was identified and agreed with Evans’ opinion of value. “It was obvious that with my client’s secure position in the market that they would be of interest to other operating limousine services. I made some phone calls to strategic players,” said Evans.
Overall, there were twenty-five inquiries about the business and five showings. The transaction took approximately seven months which is average for a service business. The seller got very near his asking price and an employment agreement with the new owners for himself and his drivers. The buyer got access to a very lucrative market with limited competition. The sale of the business was a “win/win” for both sides.
“In order to sell a business,” commented Domenic Rinaldi, Managing Director of Chicagoland Sunbelt, “it takes a coordinated outbound marketing campaign as well as drawing on internal resources such as a database of interested buyers to make the transaction happen. Burt Evans’ leadership made this transaction happen.”
About Burt Evans, Business Broker
Mr. Evans has over 25 yrs of corporate and personal business ownership experience that includes accounting, retail operations, and negotiating leases with major national developers. He has a specific expertise in developing solutions to the unique challenges presented in operating companies having multiple locations. Evans is a CPA and obtained an MBA from Indiana University. He began his career with a “Big Eight” accounting firm in Chicago and followed that with seven years as the Controller of a large restaurant chain.
Prior to Sunbelt, most of Burt’s career was spent founding, operating and selling a 12-store retail chain which was a leader in its industry category. He has experience in all aspects of running his own business. His entrepreneurial experience enables him to bring passion and empathy to the process of assisting owners in the sale of their businesses. In selling one of his own businesses, Burt retained a business broker to assist in the transition. All of these experiences have given him a unique perspective into the concerns of business owners.
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Because of the geographic focus of this business, Evans made the decision to market the business to other limousine companies looking to expand their reach. An interested party was identified and agreed with Evans’ opinion of value. “It was obvious that with my client’s secure position in the market that they would be of interest to other operating limousine services. I made some phone calls to strategic players,” said Evans.
Overall, there were twenty-five inquiries about the business and five showings. The transaction took approximately seven months which is average for a service business. The seller got very near his asking price and an employment agreement with the new owners for himself and his drivers. The buyer got access to a very lucrative market with limited competition. The sale of the business was a “win/win” for both sides.
“In order to sell a business,” commented Domenic Rinaldi, Managing Director of Chicagoland Sunbelt, “it takes a coordinated outbound marketing campaign as well as drawing on internal resources such as a database of interested buyers to make the transaction happen. Burt Evans’ leadership made this transaction happen.”
About Burt Evans, Business Broker
Mr. Evans has over 25 yrs of corporate and personal business ownership experience that includes accounting, retail operations, and negotiating leases with major national developers. He has a specific expertise in developing solutions to the unique challenges presented in operating companies having multiple locations. Evans is a CPA and obtained an MBA from Indiana University. He began his career with a “Big Eight” accounting firm in Chicago and followed that with seven years as the Controller of a large restaurant chain.
Prior to Sunbelt, most of Burt’s career was spent founding, operating and selling a 12-store retail chain which was a leader in its industry category. He has experience in all aspects of running his own business. His entrepreneurial experience enables him to bring passion and empathy to the process of assisting owners in the sale of their businesses. In selling one of his own businesses, Burt retained a business broker to assist in the transition. All of these experiences have given him a unique perspective into the concerns of business owners.
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Contact
Chicagoland Sunbelt Business Brokers
Lauren Eichmann
312.265.3089
www.chicagolandsunbelt.com
Lauren Eichmann
312.265.3089
www.chicagolandsunbelt.com
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