Deal Story: From Burnout to a New Beginning

After years of running Italian Bakery Inc., the owners, Laura Collins, Joe Prebovich and Bette Prebovich reached a turning point. They were all burned out by the day to day demands of running a successful business and were ready to retire, or at least work limited hours. On the advice of another business in the area, they reached out to Calhoun Companies agent Jim Underwood to help them sell.

“We often see people choosing to sell their business in order to retire,” explains Jim. “Running a business is exciting and rewarding but does require long hours and a lot of dedication.”

With organized financials and inventory included in the sale, the business was well-positioned to attract buyers. Pricing was determined based on valuation and location. 

The eventual buyers, a couple from Maryland, saw an ad for the business and decided to start the purchase process. Early attempts to structure the deal independently led to delays before attorneys were brought in to finalize agreements, but all parties remained committed to getting the deal done. Ultimately, despite the hurdles the deal successfully closed, allowing the sellers to step away from the business and move into retirement, exactly as they had hoped.