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The Crawford Partnership announced the launch of an initiative called the Crawford Business Exchange.
CBX is a service for investors, entrepreneurs and other community members to learn about business acquisitions, franchising, investment and other startup opportunities in Crawford County, according to a news release.
“We support this new effort to help Crawford County’s good businesses stay open and do so for years to come,” said Crawford County Commission Chairman Tim Ray. . “These businesses are the backbone of our economy.”
CBX is an initiative aimed at facilitating the flow of entrepreneurial talent and capital into existing opportunities. The Crawford Partnership came up with the idea after previous business closures and missed franchise opportunities in the county.
Over the years, Crawford County businesses have closed because management teams were preparing to retire and family members or employees were unwilling or unable to take over the business, according to a release from the Crawford Partnership. There was a successful company.
In addition, some entrepreneurs may not be able to find the capital or management team they need to start their business even if they have a franchise opportunity.
The goal is to let people know that your business is for sale and connect them with resources
Crawford Partnership President David Zak said the initiative’s goals are two-fold. One goal is to let people know there is a business for sale, he said, and the other is to connect that business with resources available in the community in a friendly yet competitive environment. .
He said that when business opportunities are posted on Facebook, it can have negative consequences for companies. For example, when employees hear that a business is being sold, they start looking for other job opportunities.
Furthermore, Zack said that such social media announcements generally do not generate much interest and only reach those in the media. Also, those interested in the opportunity often don’t have the capital or other resources to pursue it.
“It doesn’t reach a wider audience,” Zach says. “In many cases, that approach is not very successful in helping retiring executives sell their businesses.”
In some cases, he said, the community may be able to show potential new owners the path to operating the business or help connect them with financial sources.
“We’re trying to increase the likelihood of business continuity within the community,” Zack said.
A community for business sales also increases interest in each case and fosters more productive discussions if potential buyers feel competition, he said.
The first sale opportunity is a 30-year-old company
The first opportunity featured in this initiative is a project award for a 30-year-old sales business with the potential for multiple income streams, from rental housing to food, accommodation and more.
The current owner hopes to retire this year. The Reed will remain open until Monday, February 5, according to the Crawford Partnership.
The names of businesses sold on CBX are typically kept anonymous to protect the business from being shut down ahead of time.
For more information, please see the lead details on the CBX page and contact Zak at davidz@crawfordpartnership.org or 419-912-1150.
We will have an email list where you can sign up to receive opportunity notifications and status updates on existing opportunities. Contact Zak to sign up for email updates. Online information about CBX can be found at crawfordpartnership.org/cbx.
“Anyone can sign up to receive notifications,” Zak said. “That would be people interested in the opportunity.”
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