Why I Went From Owner to Business Broker

by Gerry Morelli 21st of February, 2023

Why I Went From Owner to Business Broker

I have always been around businesses, especially since I come from a family that is heavily involved in the hospitality industry. My family has operated roadhouses and a petrol superstation with restaurants attached to them. The superstation I was a part of was located in the countryside and experienced high traffic rates daily. I would be surprised to see about 50 buses stop at the superstation daily, each carrying up to 50 passengers!

After moving back to Melbourne, I started being involved in buying, operating and then selling various businesses. I have operated restaurants, pizza shops, sandwich bars and other takeaway establishments, which are too many to count. Once I had enough hospitality experience, I decided it was time to test my skills in the food service distribution sector.

As a distributor for more than 20 years, I was able to supply approximately 150 different stores with food products like ham and cheese, condiments, pizza boxes and many more that food and beverage establishments need to operate. It was an incredible experience as I got to know and form bonds with many shopkeepers and realised how much businesses changed hands, which planted the seed of my wanting to become a business broker.

Money, lifestyle flexibility and authority are all motivating factors for why people want to own a business. While I was also motivated by those three factors, I found that what lit my spark was my hunger for a challenge.

Owning a business is challenging as there is a high risk-to-reward ratio. If everything goes well, then you will reap financial benefits. On the other hand, if everything goes wrong – after you placed all your hopes and resources on the business – you could lose everything.

When I had already achieved everything I could as a business owner, I realised it was now time for me to test the waters in business broking. In almost any establishment I visited, I could see a face that would greet me or that I remember from somewhere I have visited as a purchaser or a customer. It was this familiarity with the industry and coupled with my well-connected network, that I used as a business broker to great effect. Since starting as a business broker, I have now listed more than 900 businesses, positioning me as one of the most-trusted brokers in the LINK network.

As a business broker, I came to understand how important it is to have been on both sides of the counter because you will know how everything works. As a vendor, I have come to understand the most important aspects of the business for purchasers and how to highlight them. As a purchaser, I know how to digest everything a vendor tells me and call bluffs when I encounter them.

My experience gives me confidence in approaching each business sale, knowing that I can broker a deal that will leave all parties satisfied. The stellar industry reputation that I have also built enables me to encourage purchasers to trust that I am providing all the information they need to make an informed decision on their transaction.

Tags: business broker growth selling success entrepreneurs small business

About the author

Gerry Morelli

Gerry Morelli can be aptly described as a cornerstone of LINK Melbourne, earning his place as one of its "MVPs" (Most Valued Players). Gerry seamlessl ...

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