Broker thinks outside the box
Company: Brand new childcare centre
Time to sell: Within 3 months
Offers: 2
Sold: 100% of asking price
Customer
The owners were a team of two married couples, neither of whom were ECE qualified. They formed a group of four shareholders/directors, who also jointly own the property.
Background
The Vendors joined forces in 2017 to create this beautiful venture and run the business. Due to a change in personal commitments, they decided to pass the fruits of their labour to someone who could take on this young venture and continue along the path they had carved.
Our approach
We worked closely with the Vendors, rolling out our marketing package, together with targeted emails and leveraging off our database of childcare owners and investors. From day one, we set out with an organised approach to market a business with no history, using it to the Vendor’s advantage rather than it being a shortcoming. Our marketing strategy was moored around highlighting the strengths of owning a brand-new centre compared to something that had been operating for several years.
Solution
We first approached the open market, primarily LINK’s database, as well as utilising online marketing and social media platforms. However, this did not prove successful in creating broad buyer interest. We suggested a targeted email solution and an open day for potential buyers. At the open day, we worked with each prospect individually, addressing any of their queries.
Result
Once we identified an ideal buyer, we arranged a meeting at the LINK office. After 2 hours of consultation and negotiations, we had an offer for 100% of the listed price. The buyer never even visited the centre. The deal was declared unconditional within ten working days of the initial meeting. The overall result was a happy vendor and an excited buyer.
