The first entrepreneurial activity was likely the provision of excess food products harvested or killed in exchange for other items of value. The first retail transaction in a monetary exchange for merchandise was likely related to the sale of food. From these simple platforms hospitality and food industry entrepreneurship has grown and flourished in as many directions as the number of stars in the sky at night. The present economic ecosystem of hospitality & food businesses includes farms, dairies, butcher shops, groceries, wineries, manufacturers, distributors, restaurants, taverns, franchises, catering companies, equipment rental businesses, hotels, and food tours in destination cities. It is further segmented by categorization by ethnic focus, sourced products (organic, local, etc.), production specifications (gluten-free, Kosher, etc.), and delivery methodology (direct purchase & consumption, local delivery, online purchase, etc.).
IBA, as the oldest business brokerage firm in the Pacific Northwest region of the United States, and a firm with industry (https://ibainc.com/industries-served/) focused divisions staffed by knowledgeable, experienced, highly skilled professional intermediaries has a long history of successfully facilitating business sales of hospitality & food sector companies. These completed transactions have been achieved by our manufacturing division (Bakeries, Wineries, Distilleries, Pet Food, etc.), distribution/wholesale division (Italian wine, Cookies/Crackers, Floral Products, etc.), and hospitality division (Restaurants from Fine Dining to Family to Franchised Fast Food Service; Night Clubs to Dive Bars; and Flagged Hotels to Bed & Breakfasts). If there is a way to make money selling food, hospitality service, or affiliated products, we have likely sold a company that does that entrepreneurial activity.
Support of entrepreneurship in the space by IBA starts with helping people commence on the self-employment path with knowledge and a strong toolbox of resources. Recent examples of this support in the autumn of 2022 include live & webinar presentation at September’s Washington Business Fair ( https://ibainc.com/videos/employee-to-entrepreneur-finding-your-best-path-to-business-entrepreneurship/) organized by SCORE and an October seminar for the culinary & viticulture students at Walla Walla Community College. IBA’s blog (https://ibainc.com/blog/) and video (https://ibainc.com/videos/) libraries also serve as permanent, comprehensive 24/7 resources for the entrepreneurial community.
As a consultative sales firm, our senior, double-digit brokerage team on a daily basis provides direct mentorship and guidance to our clients on all elements of the business sale process from business valuation to marketing to protecting the confidentiality of the potential transaction to negotiation of deal terms to facilitating the transaction from LOI to closing including sourcing financing. IBA is routinely recognized as one of the most knowledgeable & experienced firms serving the hospitality & food industries on the West Coast. We welcome the opportunity to educate and connect our clients with subject specific resources & people. IBA also holds educational seminars where the business sale process is covered for a wide variety of trade associations, industries, educational institutions, and geographic locations. Our next seminar focused on serving the wine and hospitality industry, but open to all entrepreneurs, will be held October 13 in Walla Walla, Washington in partnership is the Walla Walla Community College, Key Bank, and the Washington Hospitality Association. Registration for this event is presently open and a spot at the seminar can be reserved through our website at https://ibainc.com/about-iba/seminars-and-events/. A highlight of the seminar will be the post presentation reception featuring the culinary creations of the Wine Country Culinary Institute and the wine of College Cellars. If you are in the area, please join us.
If you are unable to attend the event or prefer an one on one conversation, IBA is available as a resource whether a sale is planned in 2023, 2024, or 2025. All conversations are held in strict confidence.
IBA, the Pacific Northwest’s premier business brokerage firm since 1975, is available as an information resource to the media, business brokerage, and mergers & acquisitions community on subjects relevant to the purchase & sale of privately held companies and family-owned businesses. IBA is recognized as one of the best business brokerage firms in the nation based on its long track record of successfully negotiating “win-win” business sale transactions in environments of full disclosure employing “best practices”.