From the monthly archives: March 2016

We are pleased to present below all posts archived in 'March 2016'. If you still can't find what you are looking for, try using the search box.

SOLD: First Class Children's Center

From left-to-right: Demond & Sheila Woods (Buyers), Kristi Shelley (Seller), Marcia Bowron (CBB Broker)

This beautiful, very large daycare center has recently been completely gutted, remodeled, and decorated similar to the big national daycare franchises. The Seller had to sell business for personal reasons. The Buyers got a great deal even though they paid over asking price because we had four full-price cash offers. The Seller "loves her kids" and was emotional about selling but had to.

The Buyers have owned another daycare in Pearland for the last two years and owned a martial arts school before that. Sheila is a professor of accounting at Devry and a local community college and Demond is in I.T. in an O&G company. Sheila has a director's license and Desmond is in the process of getting his also, just so they are prepared if needed. They are implementing some security and tuition paying processes immediately at First Class and very excited about taking advantage of the waiting list the seller had. They will be hiring new teachers immediately to be able to handle larger enrollment. Very exciting for them!

The business was sold within 1-1/2 months of going to market.

Marcia Bowron listed and sold the business.

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SOLD: Toys To Love

From left-to-right: Benjamin & Bailey Kinney (Sellers), Peggy Tate (CBB Broker), Katie & Trevor Meeks (Buyers)

Established in 1991, and located in an uptown center of Houston's Galleria area, this is a high-end, one-of-a-kind specialty toy store with a committed and loyal customer base. There is a general manager and a supervisor in place to run the operations leaving the new owner to concentrate on learning the business and planning for the future.

The seller has been in the toy business for many years and bought the store in 2008. She decided to sell it so she can become more involved with her very active children. The buyer, a CPA, started her career in public accounting. She recently had a baby, which requires more flexibility. The seller will continue to work in the store for six months to help mentor the new owner. She will also attend toy markets in other cities with her to introduce her around the toy industry and to otherwise show her the ropes. Both the seller and buyer are excited about working together in the transition. SBA financing for the deal was provided by Allegiance Bank.

Peggy Tate listed and sold the business.

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SOLD: Rent-A-Prep Staffing

The Seller, Cynthia Sutton, will be retiring and moving to Austin after training the Buyers, Danielle & Jonathan Schlech. The Schlechs wanted to return to Houston from Florida, and buying this business gave them that opportunity. Since the Seller was an absentee owner, the buyers felt that under their full-time efforts they would enjoy higher profitability and an excellent return on their investment. Due diligence went very smoothly, and since seller financing was part of the deal, we were able to get the deal closed within a month of signing the purchase contract.

This company is a very well-established hospitality staffing firm offering on-call professional wait staff, bartenders, bussers, dishwashers, and setup/tear down labor for trade shows and special events. Having been in business since 1987, they have a well-respected name and loyal customer base.

Marcia Bowron listed and sold the business.

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SOLD: Speedy Printing of Texas

This established, stable commercial printer has been around since 1974. The Seller, Nancy Barlow, had been working for the company 16 years and bought the business from her father about 8 years ago. Approximately 95% of its revenues are from well-diversified, repeat business accounts. The company has enjoyed very low employee turnover, several of whom have been with the company over two decades. With these value drivers, this is a low risk business, which is why Buyer, Ivette Chapman, with a BS in electronic engineering and a MBA in international business, decided to buy this company at 96% of asking price.

Peggy Tate listed and sold this business.

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