Savvy Business Sales

SAVVY BUSINESS SALES

PANDEMIC… what pandemic?

The team at Savvy Business continue to achieve phenomenal sales results, despite challenging times for many businesses affected by the worldwide pandemic.

Transactions have been solid with 20 sales/settlements worth more than $19 million achieved in the first eight months of this year. Supply of blue chip enterprises continues to be a problem, with many baby boomers holding off selling, fearing Covid may hurt business values, saleability, and demand… little do they know this could not be further from reality. Buyers are here in their droves, cashed up with strong appetites for well-established businesses with key staff in place and attractive profitability. Astute buyers realise just like the current residential market, competition for businesses is fierce, there are few quality opportunities on the market and they’ll pay premium money for quality businesses. This is the perfect scenario for those business owners who are looking to retire from working life. Clearly, we are now at the top of the selling cycle, interest rates are still at record lows, interstate migration is booming and investment into infrastructure is unprecedented and will continue until the 2032 Olympic games. These drivers combined is boosting buyer confidence. Demand will be diluted, though, as more opportunities will come to market in the near future. More than 50% of business owners are in the baby boomer category, meaning the youngest are not far from their 60’s and the eldest boomers are now over 75 years of age, so retirement is just a matter of time for many of them. Timing is everything in business sales, so, if you are contemplating selling, get in while the market is hot. Call Rod Russell on 0409 931 600 for an obligation free appraisal today. Retired and living on the Sunshine Coast… surely life doesn’t get any better than that! a