Chicago, IL, March 04, 2011 --(PR.com
)-- Chicagoland Sunbelt (www.chicagolandsunbelt.com) announces today that Dan Kite, MBA and Managing Partner at Chicagoland Sunbelt, completed the sale of a vending route business. In order to sell the business, Kite and Chicagoland Sunbelt reached out to their internal database of over 10,000 active buyers to create demand for the business. In addition, the firm reached out to over 50 vending route operators via direct telephone contact. The business was also marketed to the general public through an extensive on-line campaign. It was as a result of this on-line campaign that the buyers learned of this opportunity. The buyers made an offer the same week they were shown the business and closed the transaction three weeks later.
The business profile was very attractive to the market. The vending machine route is concentrated geographically. All the machines were owned not leased, meaning that in addition to buying a strong cash flow business, the buyers received valuable physical assets. That route’s geographic concentration made it easy for the buyers to buy the business and gain a supplemental income apart from their full time pursuits.
“The sale moved along at such speed because both parties were so motivated,” stated Kite. “Our seller was not interested in operating the business going forward but realized that he could sell the business for a rewarding sum in place of shutting it down. Our buyers had identified this industry as a solid performer that could provide significant supplemental income with fairly minimal investment of time.”
Domenic Rinaldi, Certified Business Intermediary and Managing Director of Chicagoland Sunbelt, added: “Dan brings a level of professionalism and energy that drives business transactions to successful conclusions. Business owners, like the seller in this transaction, know they will be in good hands with Dan Kite.”
About Dan Kite
Daniel Kite is President and Managing Partner of Sun Street, LLC, an affiliate of Chicagoland Sunbelt. Chicagoland Sunbelt is part of the Sunbelt Network which is the world's largest business brokerage firm. Sun Street, LLC was formed as a partnership between Mr. Kite and Chicagoland Sunbelt to expand Sunbelt's rapidly growing brokerage firm into the downtown Chicago market.
Kite has twenty years of entrepreneurial business experience and is considered an expert in business development, franchising, retail operations, technology development and real estate development. Kite began his career working with his family's business. The business, the Marcus Corporation based in Milwaukee, WI, is the sixth largest movie theatre chain in the country and owns or operates over sixteen full service hotels.
He has owned, developed, operated, and sold his own businesses, including a chain of Blockbuster Video stores, Screenz Computing Centers, and Tailor's Touch. He has also founded two software companies and has licensed his technology to Fortune 500 companies throughout the nation. Kite has been both a franchisee and a franchisor giving him a unique perspective on the world of franchising. Dan most recently spent five years as a Director of a private equity firm.
Daniel Kite holds an MBA from Northwestern's Kellogg School of Management and an undergraduate degree from Georgetown University where he graduated, Magna Cum Laude.
To learn more about Dan Kite visit www.chicagolandsunbelt.com/team-Kite.htm
About Chicagoland Sunbelt
Chicagoland Sunbelt is a business brokerage firm that focuses on helping people sell, buy and grow businesses in Chicagoland and the surrounding Midwest. Having sold hundreds of businesses, Chicagoland Sunbelt understands a broad range of industries, including business services, distribution, food & beverage, franchises, personal services and retail. Its experienced team of M&A brokerage consultants also develops and executes comprehensive strategies designed to meet individual financial and non-financial goals.
Chicagoland Sunbelt is also a proud member of Sunbelt Midwest, which operates offices in Minnesota, Wisconsin & Illinois, For your next business purchase or sale, visit Chicagoland Sunbelt at www.chicagolandsunbelt.com.
Contact: Daniel Kite
Address: 350 W. Hubbard Street, Suite 470, Chicago, IL 60654