A beautiful result, above asking price
Company: Health & Beauty
Time to sell: 5 months
Offers: 2
Sold: 2% above full asking price – a rare result
Customer
A hairdressing and beauty therapy business with one working owner, four full-time and two part-time staff members. The owner started the business and had been running it successfully for 17 years.
Background
After running the salon for 17 years, the seller was ready to step back and pass the opportunity on to the next owner. They had tried to sell the business through a local residential agent. The business sat on the market for 18 months, drawing no buyer interest.
Brief
Our broker saw the value in the business and felt confident that a successful sale was possible with some smart, targeted marketing. The owner did not push for a time frame, leaving the process in the expert hands of our broker.
Our approach
From the outset, our broker developed a marketing plan to target potential buyers from outside the seller’s small rural town, those looking for a change of lifestyle.
Solution
The business was advertised on all New Zealand ‘business for sale’ websites, and ads placed in the NZ Herald. Previous buyers of hair and beauty businesses around the location were also contacted. Before any information was disclosed, confidentiality agreements were signed, and our prospective buyers assessed to qualify their suitability.
Result
Three parties expressed interest. The eventual buyer acted quickly, was excellent to deal with and offered $2,000 above the full asking price. The buyer and seller hit it off immediately, and the seller took the buyer – a first-time business owner – under her wing. They are now great friends, and the original owner is working in the business as a hairdresser.
