Julie Morgan Brigman, Senior Advisor for Transworld Business Advisors, describes her job as matching up “the perfect buyer for the perfect seller” — and she found just that in the recently completed business sale transaction of Littlebits Children’s Resale, a children’s clothing resale business at 12226 Beach Blvd. in Jacksonville.
According to Brigman, the sale process started in August 2015 when Nocatee resident Katy Scott, the seller, contacted Transworld saying she had listed Littlebits with another agency with little activity for an entire year. The listing agreement had expired and Brigman was recommended to Scott by a local networking organization.
At first, Brigman did not expect much from Littlebits Children’s Resale as a viable sale. However, when she went to the store, she said was impressed at the professional and polished business, which also had attractive merchandising and an aggressive e-commerce presence. The store featured high-quality, affordably priced, clean and abundant inventory, including baby strollers and furniture and maternity clothes.
“They had really worked on their brand and their website was upscale and up to date,” Brigman said.
Initially, the potential buyers, Myranda and Josh Owen of Jacksonville searched on the Internet for businesses for sale in Jacksonville. They located and interviewed Brigman who recognized and advised them that Littlebits was located in an active, growing location for young families, grandparents, and military families.
Ultimately, Littlebits looked like a great starter business for the young ambitious family. Most importantly, Josh Owen is honorably discharged from military service as a U.S. Army Ranger and was based in Georgia. He served twice in Afghanistan in a period of three years. Josh was looking for a sound business opportunity during the next phase of his career. He and his family wanted to stay in Jacksonville, their hometown, and where the couple met as childhood sweethearts.
“I just took a huge interest in this one because of the buyer,” Brigman said. “Once the buyer stepped up to the plate, I knew he and his wife were perfect. Our big problem was just getting financing.”
Since seller Katy Scott was pregnant with her second child, the transaction was on a deadline. She wanted her business to go to a person as passionate about kids and helping young families as she was.
During this time, the Owen family began seriously looking at Littlebits with Brigman’s guidance. The couple had no direct, hands on, business experience — and not much money.
“Myranda was not working and Josh was out of the military and jobless — it didn’t look good for them,” said Brigman. “It is not easy being knocked down over and over and over, especially when you have served your country for so long and so hard. No one would take a chance on him, and the rejections just kept coming. I watched Josh never give up or become defeated. He never thought for one minute that he wouldn’t prevail, and he never got angry. He was always focused.”
After that, Brigman said the transaction became a personal mission.
“I was going to get in him in that store no matter what,” she said.
All parties negotiated a financial plan to secure the sale of the business. Now, the Owen family is thriving with Myranda running Littlebits and Josh is involved in a business he loves. Their plans are to open additional store locations. Most importantly, the buyers and sellers are good friends and will continue their relationship as store owners and customers as Katy Scott recently gave birth to her second child.
“This is how it was when the soldiers came back from World War II. Americans were helping the returning warriors and their families to make our country great again, and without hand-outs,” said Brigman.
Transworld Business Advisors specializes in the sale of businesses and helps thousands of clients in buying and selling their companies with an award-winning sales force of more than 60 professionals in Florida including Broward, Duval, Hillsborough, Lee, Miami-Dade, Orange, and St. Lucie counties. Visit the website at www.tworld.com.
