By Sarah E. Needleman
Wall Street Journal (WSJ.com)
October 14, 2010
Small-business owners banking on a big payoff when they sell their establishments may have to settle for a lot less than planned.
A combination of tight credit, skittish buyers and business owners unwilling to sell at rock-bottom prices - factors similarly affecting home sellers - has left the small-business marketplace at a standstill.
David Wetzel says he spent two years trying to sell his business, Dorst Hardware, a Ventnor City, N.J., shop he's owned since 1993. He's now liquidating the business and expects to earn only about a third of his asking price. "I had some very close leads who wanted to buy, but they could just not get the financing," says Mr. Wetzel, who is 64 years old.
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