When you think of Melbourne, it's hard not to think of Covid, lockdown, businesses closing left, right and centre.
Businesses selling, isn't the first thing that comes to mind these days.
Covid has had an impact on many people's businesses but here at Bonza, we have noticed that the level of serious buyer enquiry is increasing monthly, we are receiving more offers on businesses and more businesses are selling than pre-Covid times.
Without any small business selling experience, one Melbourne couple began searching for a broker who could aid the process of selling their franchised bakery. After comparing business brokers, they decided to go with a traditional brokerage based in their local area.
The bakery was popular, their customers were loyal, their turnover grew quickly, and business continued to boom to the point where they were taking around $730,000 in revenue a year. So why hadn't they sold yet?
After their first broker had no success, the couple decided it was time to try a different approach and found Bonza.
From the start, Bonza utilised virtual connectivity combined with cloud-based systems to deliver a highly effective business sales process. Creating an eye-catching advertisement that was displayed across the major business for sale websites, along with an informative business profile, this Melbourne bakery started receiving immediate interest.
With an offer received on the second day of being listed, they instantly saw results. Earning a total 53 prospects and 4 firm offers within the 4 months of being listed, this Melbourne couple successfully sold their business and were able to move on to a new opportunity.
Here is what they had to say:
"We have experienced many brokers over our journey of buying and selling.
Bonza was by far the most professional, comprehensive, diligent and thorough broker with outstanding professional service and effective electronic systems for both the buyer and seller.
Thank you Nicole and Nigel for assisting with selling our franchised bakery. Your dedication to our success was second to none. Whilst the electronic system was fabulous, Nicole and the team were always available via the phone whenever we needed an update.
We believe, in this modern climate, that it really is about exposure online in the first instance - which they excelled at, but more importantly, buyers want fast, instant access to information, not coffee in a cafe, and Bonza delivered this.
Many potential buyers commented to us that our broker was by far the most professional and efficient they had dealt with. Bonza's automatic system notified us of enquiries, who was progressing through the process, and any enquiries that had been eliminated, it was very helpful and reassuring.
"I highly recommend Bonza and their team."
The lesson here is clear.
Like any industry, there are good brokers and there are bad brokers. Finding a good broker is the best route to a successful exit.
The market is constantly changing, and it is important to find a broker that knows how to market your business, qualify buyers and ultimately allow you to focus on running your business, while they focus on selling your business.
See the current listings by Bonza