Reflecting small business confidence levels at near all-time highs around the country, Lake Norman’s climate for small business movement is steadily improving evinced by multiple recent sales and mergers facilitated by ENLIGN Business Brokers’ Joe Vagnone.
His transactions include Mooresville’s Davino’s Pizza, Denver’s Defense Gun Range, and ARIA/1st Choice Activewear. As well as Cornelius-based Citizen Media and FlairTrade.
“Businesses are starting to move in our area,” says Vagnone. “Small business confidence is not merely expressed by the creation of startups. Quite on the contrary, true confidence is expressed when entrepreneurs are willing to invest in existing businesses with the vision to take them to the next level.”
With help from broker and advisor Joe Vagnone, these entrepreneurs enter their new businesses on the coattails of 2017’s historical business confidence levels. According to the NFIB, 2017 was the strongest year in the history of its Index of Small Business Optimism.
“We’ve been doing this research for nearly half a century, longer than anyone else, and I’ve never seen anything like 2017,” says NFIB Chief Economist Bill Dunkelberg.
The businesses sold by ENLIGN Business Broker Joe Vagnone reflect a unique crosscut of the Lake Norman economy. Davino’s Pizza offers customers traditional New York style pizza and other favorites for take-out, delivery or to be enjoyed in the restaurant.
“Steve, a seasoned veteran of 32 years, is moving on and is willing to share his years of experience with a new entrepreneur. This is a trend happening with small businesses across our area.”
Boasting an ultra-modern facility, Denver’s Defense Gun Range offers classes, range rental and membership options for marksmen of all levels.
“Subscription-based businesses are huge right now,” says Vagnone. “Finding a way to create residual revenue benefits business owners in the here-and-now and when they go to sell.”
Citizen Media boasts publications such as the Lake Norman Citizen and others. With a background in local media, Vagnone has a passion for businesses such as this one.
“Having started and owned a magazine, and now hosting my own radio program, I love what these types of businesses can do to promote and benefit local entrepreneurs.”
Defined as “a source for affordable, high-quality fashion,” FlairTrade “specializes in mint condition curated clothing & accessories for Men and Women on consignment.”
In addition to these four sales, Joe was also the lead advisor and consultant on the merger agreement between ARIA and 1st Choice Activewear.
“There seems to be a trend of corporate executives wanting to stay in our area; so starting or buying a business affords them the opportunity to accomplish this and not have to relocate for a another corporate job, finally releasing them from the formalities and politics of corporate life. ”
The sale of these four businesses and the merger are just the start to movement expected in the Lake Norman region in coming months. Joe Vagnone currently has four Letters of Consideration. Additional sales are expected in the first quarter of 2018. “This trend could produce the highest volume of small business transactions in the area in my life time.”
“One of the key factors for my success as being one of the top small business brokers in north & South Carolina is my firm belief that terms are more important than price. This fundamental concept is the foundation for many of the transactions. This only works when the buyer and seller believe tomorrow will be better than today! Confidence level at a all-time high all the stars are lining up for sellers to maximize the value of their business as long as they are willing to be creative on the terms.”
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