Business brokers see opportunity in layoffs.(NW Journal: A Look at News From Northwest Arkansas)

Business brokers in northwest Arkansas said their traffic had picked up since the middle of the first quarter.

Carl Grimes, owner and principal broker of Sunbelt Business Brokers of Lowell, said many people who were laid off would spend anywhere from three months to a year looking for a job, and "then they start to look at buying one."

Grimes, who also owns Sunbelt franchise offices in Springfield and Joplin, Mo., said his company closed on about 20 transactions last year.

Don Godsey, owner of VR Mergers & Acquisitions of Bentonville, said, "2008 was our best year ever. It was a great year." However, he saw money tighten up in the fourth quarter, and he echoed the sentiment about people looking to buy their source of income.

Godsey, who wouldn't say how many transactions he closed last year, did say he had about 15 listings.

Brokers typically earn a commission of between 4.5 percent and 10 percent of the transaction, depending on the size of the company and the complexity of the deal. Brokers will help owners value their businesses.

Across the Sunbelt network of offices nationwide, the average closing price is about $450,000.

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