'Building a Better Dubbo' Is it Time to Buy a Business?
Living in regional Australia is no longer the seemingly insurmountable challenge it used to be; with an attractively priced property market when compared to metropolitan cities, steady population growth and increasingly diversified economic output, running a business in a regional town such as Dubbo NSW is an accessible and attractive option for many prospective owners and entrepreneurs.
Dubbo NSW is experiencing growth with government initiatives such as 'Building a Better Dubbo' driving population and job growth. This makes looking at businesses for sale in Dubbo a good idea.
We take a look at this Central West NSW region, what business initiatives are in place and why now could be the right time to buy a business for sale in Dubbo.
Dubbo is a Central Business Hub
Dubbo is a scenic 5-hour drive from Sydney, or a short 1-hour flight, and has flights operating to major cities in Australia and out to the Darling River Run, putting Dubbo in an advantageous spot in Central NSW.
The Dubbo region has seen incredible growth across multiple industries, including mining, construction and manufacturing providing an increase in job opportunities and contributing to the population growth; in conjunction with affordable living, the Dubbo region is a charming place to live, invest and work.
The Dubbo region has been at NSW's front lines of regional growth and opportunity. The Central NSW region roughly makes up one-third the size of the state of NSW. With an estimated population of over 55,000, Dubbo has seen increasing growth in both population and economy, supporting over 22,000 jobs and has an annual economic output of approximately $3.8 billion.
The highest gross regional product is Construction and Manufacturing, and the highest number of registered businesses are in the Agriculture industry.
On Bsale at the moment we have hundreds of businesses for sale in Dubbo and the surrounding Central West NSW region such as this 60 year old Brick, Paver & Tile Supplies Business in Parkes NSW for $1,600,000 plus stock.
"This business has multiple income streams to meet the demand of its loyal customers. Apart from their main income stream of reselling pavers, bricks & tiles, they also specialise in shipping container sales, hire and storage, forklift hire, wine barrel sales & hire removal and storage." Advanced Business Marketing
In a bid to attract investment to the region and accommodate the growth the area has seen, Dubbo Regional Council is leading the way for development and infrastructure in Regional NSW.
Time to Buy a Business for Sale in Dubbo?
The NSW Government’s plan to “Building a Better Dubbo” includes a significant infrastructure investment in the region. The Australian and NSW Governments are investing a cumulative $301.2 million into road projects that are expected to reduce travel time. These projects, in conjunction with the addition of more flights operating at the Dubbo Regional Airport, Dubbo is continuing to prove to be a strategically situated city in Central NSW which will only inject more into the local economy, business and community.
Dubbo Regional Council says that the quality of life attracts new residents and visitors to Dubbo, it’s an affordable and liveable area connected to other major hubs in the state by road, rail and air!
With the recent announcement that the Dubbo to Ballina flights are back, the Dubbo Regional Council Manager of Economic Development and Marketing, Josie Howard, said that when the service was last active, passengers were roughly staying on average for eight days, exceeding expectations.
“The economic impact of the initial trial in 2020 was estimated at a $3.8M injected into our region’s economy, as a direct result of this positive partnership between collaborative regional destinations,” said Ms Howard.
The Dubbo region has experienced significant growth and is in an excellent position to continue to grow, with great potential in the property market, infrastructure, industries and more.There are a variety of government grants, funds and business opportunities available to business owners in the regions. The Regional Skills Relocation Grant NSW is a particularly useful grant, funding up to $10,000 for regional NSW businesses to assist in attracting skilled employees from metropolitan areas and relocating to a regional area.
Living in Dubbo
With the property market so tight in so many areas of the nation, Dubbo is an incredibly attractive option for young entrepreneurs, families and workers alike.
The PRD real estate economic report for 2022 had a lot of positive findings for Australian regional markets. Dr Diaswati Mardiasmo, PRD Chief Economist, found that “first-time investors choosing regional markets became more common in the 2nd half of 2021 due to higher affordability, higher rental yields and a lower vacancy rate”.
For the investors and first-time property buyers, regional markets continue to have a lower entry price, higher rental yields and lower vacancy rates which all equate to a highly conducive investment market, giving first-time investors a broader investment scope compared to their metropolitan counterparts.
Even though the property market is changing, the PRD economic report suggests that regional markets will continue to flourish and that there has been more interest in these markets than in previous years.
“Many more first-time investors or buyers (i.e. rent-vest strategy) are looking at regional markets as an entry point to their dream property.”
With expected growth to the Central West and Dubbo regions, there are multiple levels of business opportunities. Sole traders, partnerships companies and franchises are for sale. You can find cafes for sale in Dubbo from $50,000 to an Eco Lodge in Cowra for $2,195,000 by Mcdonalds Hospitality Brokers.
"A genuine offering to market for the first time in 16 years, this beautifully presented freehold going concern motel simply ticks all the boxes! The Econo Lodge Alabaster Motel presents a rare opportunity in the current market to secure a proven performing motel business with year-on-year sales growth even across Covid disruption."
With countless opportunities in the area, it is a great time to look at buying a business for sale in Dubbo NSW.
About the author
Caitlin has a background in media and communications, studying journalism at University and doing various freelance writing and production work over ...