Western Garden Center Sold for $1.155M, 116 Buyers Viewed
Rachel Horner
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2 min read
About the Business
Industry: Retail – Garden Center and Plant Nursery
Location: West
Size: $750K–$1M in annual revenue, $200K–$250K in cash flow
Sale price: $1,155,000, including real estate
Listing to signed LOI: 203 days
Signed LOI to close: 101 days
The Challenge: Retiring After Years of Running It Solo
The owner had run the garden center on her own for years and was ready to retire. She wanted to pass it to a new owner with fresh ideas for the business.
203 Days to a Signed LOI: The Right Local Buyer
What happened at every stage
Valuation: Baton valued the garden center on $200K–$250K in adjusted cash flow and built the data room and marketing materials.
Buyer Outreach: Baton listed the business on its marketplace and BizBuySell and worked owner-lead and strategic-buyer lists. 116 buyers viewed the listing and 30+ opened the data room.
Offer Selection and Negotiation Support: A local husband-and-wife team came in through Baton's introduction form, and Baton set up their meeting with the owner and drafted the LOI. The final deal covered the business and its real estate together.
Diligence and Closing Support: Baton shopped the financing to its lender partners and walked the buyers through underwriting until a lender approved the loan. Baton then negotiated the purchase agreement and seller note, and the deal closed 101 days after the LOI.
The Results
The buyers are a local husband-and-wife team and longtime fans of the store, who planned to run it hands-on day to day. Through Baton's process, the business:
Sold for $1,155,000, including the real estate
Closed with a bank loan and a seller note
Closed 101 days after the signed LOI
What's next for the owner?
The owner planned to retire and garden at her new home after offering the buyers up to three months of hands-on training.
Advice and Lessons for Future Sellers
Consider selling the property with the business. Including the real estate let the buyers acquire the business and its property in one purchase.
The right buyer may be close to home. The winning buyers were local residents who already knew and liked the store.
Line up more than one lender. Taking the deal to Baton's lender partners got the financing approved.