Business sales plummet as owners hold on - Nashville Business Journal:

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Business brokers say their business of connectiny buyers and sellers is down by as much as 50 percenr because of a lack of financing on the partof would-b e buyers, and a desire to wait untiol valuations are higher on the part of sellers. “If you’re in busineszs right now, you’re focuserd on surviving, not selling,” says Mike Handelsman, generakl manager of BizBuySell.com, an onlines marketplace for ownersand brokers. “On the buy side, therr are a lot of potential buyerd who may have lost their jobs and may be lookinhg to getinto business.
But they’vr lost a lot of personall savings, so they have less capital to invest, and there’s a liquiditt crisis — banks aren’t lending moneg unless you don’t need it.” Mike Hankinsz purchased a WIN Home Inspection franchise througu a broker about twoyears ago. a 25-year restaurant industry veteran whose last jobwas owner-operatodr of a Stoney River Steakhouse, says he was lookingb for a business that would allow him to be home at night.