The North Country Center for Businesses in Transition will host a matchmaking event designed to connect owners who are planning to sell a business and individuals who are interested in buying one, on Tuesday, February 15th.
Despite the challenges many small businesses have experienced during the COVID-19 pandemic, partners with the North Country Center for Businesses in Transition (CBIT) are reporting an uptick in successful ownership transitions in Northern New York. Bolstered by CBIT’s professional networks, regional resources and support services, buyers are discovering now is a good time to purchase an existing business.
The Center has announced two recent ownership transitions — Silver Bay General Store in Silver Bay, and Point au Roche Lodge in Plattsburgh.
Paul Budd, new owner of Silver Bay General Store, originally connected with Matthew Courtright, executive director of the Ticonderoga Area Chamber of Commerce (TACC), at CBIT’s Small Communities, Big Opportunities virtual conference in February 2021. It was then that he and his wife Joanne began actively pursuing their interest in purchasing the general store. With further guidance and assistance from TACC and SUNY Canton Small Business Development Center (SBDC), both CBIT partner organizations, they completed the purchase in October 2021.
Budd has plans to diversify and expand the business, which has been serving residents and visitors of the lakeside hamlet of Silver Bay since 1927.
TACC, ANCA and Silver Bay General Store will host an official grand opening and ribbon-cutting event in Spring 2022 to celebrate the new owners, their updates to the store and their plans for its future.
For Karen Billings — who has owned and operated Point au Roche Lodge with her husband Creston since 2004 — working closely with her successors, Jess and Yuri Bouharevich, was a critical aspect of selling her business.
CBIT’s upcoming virtual matchmaking event will be held from 4 to 6 pm, and is designed to connect local business owners who are ready to sell and potential buyers who are interested in owning an existing business. The event will include virtual exhibition booths, opportunities for one-one-one conversations via chat or video, and information about services and resources available through the CBIT partnership. Attendees will also have access to instructional videos and a pre-event webinar.
Interested buyers can learn more and register on the CBIT website. Business owners who are planning to sell and would like to participate in the event are invited to contact Kim Manion at firstname.lastname@example.org. Registration is free.
For more information about CBIT and its programs, visit their website or contact email@example.com.
Photo of Paul Budd, the new owner of Silver Bay General Store provided.