Across the LINK Business network, buyer enquiry is buzzing as New Zealanders get serious about pursuing entrepreneurship, but without all the risk of starting a company from scratch. For genuine buyers who are willing to persevere through the (sometimes challenging) purchase process and beyond initial interest, the legwork certainly pays off. Just ask Parminder Takhar, proud new owner of Scotties Car Rentals.
Parminder, who was already familiar with LINK Business through articles in Indian Newslink, decided to take it a step further one day by browsing the brokerage’s website. Like all business buyers-turned-owners, Parminder sifted through listings, eventually landing on one that stood out from the rest. That business turned out to be Scotties Car Rentals, and JD Hyslop was the broker in charge of the listing.
Established in 1988 and spanning various locations across New Zealand, Scotties Car Rentals quickly asserted itself as a dominant force in the car rental market, earning a reputation as an industry leader. Backed by an impressive track record, the business has dedicated its efforts to nurturing strong customer relationships and cultivating an exceptional standing for providing superior rental services.
Although the listing was confidential at the time, Parminder says that what drew him to the business was the optimal location and nature of the opportunity. “I hadn’t come across many, if any, businesses in the car rental industry, especially ones in Auckland with nationwide reach like Scotties, so this was immediately enticing.”
Eager to find out more, Parminder filled out a CA (Confidentiality Agreement) and JD soon got in touch, providing key details about the business. As Parminder learnt more about Scotties Car Rentals, the determination to own the esteemed company only grew stronger.
Parminder says that JD was incredibly supportive of turning his business ownership dreams into a reality. “JD was very careful about ensuring that Scotties really was the right fit for me, I didn’t feel pressured to make immediate moves, and instead was given time and space to make informed decisions.”
JD’s commitment to transparent and frequent communication was a defining part of the sale process for Parminder, and he reflects on it with great appreciation. “JD remained incredibly professional from the outset and was very proactive with keeping me updated on the journey towards the acquisition.”
Due diligence was another aspect of the process in which JD’s skills as a business broker shone particularly bright. Due diligence, the process of thoroughly checking and investigating a business before buying it, is a pivotal point that can make or break a deal. “JD helped me do my homework, ensuring I was asking the seller all the right questions and reviewing necessary information to make a smart purchase,” says Parminder.
Ultimately, with tenacity, thorough process adherence, and JD’s facilitation, Scotties Car Rentals had its eventual new owner in Parminder Takhar.
Wholly, Parminder is elated with how the purchase went. He credits JD for how smoothly it unfolded, and highly recommends that aspiring business owners work with LINK to secure a solid venture. “I don’t think anyone should go through the buying process alone, working with a qualified business broker sets you on the right path and positions you for success as a fresh owner,” says Parminder.
Looking ahead, Parminder is excited to continue the legacy of Scotties Car Rentals and is ready to steer the business to even greater heights as the new owner-operator.
Acquiring an established business can be an immensely rewarding route to take, offering the chance to inherit a success story, shape its future, and reap the benefits. To find a business that aligns with your goals and preferences, visit https://linkbusiness.co.nz/businesses-for-sale/
