WHAT MAKES A BUSINESS GOOD TO BUY?
I am often asked if I specialise in the sale any particular size or type of business…and my answer is usually a resounding “no, I can do it all!!” this might sound a little grandiose but in all honesty a successful and desirable business has at its core the same basics.
In my public accounting days the fundamentals of accounting were the same, whether it was large or small and now as a business broker I look for the features of success;
good financial management,
a good product or service and
a vision built up by its owners and shared with their staff.
What sets them apart is the ability to see the need for a profit and to work on the process, the roadmap if you like, as to how to get there, and then how to repeat the process until anyone can do it.
Simple in theory, incredibly difficult in practice!
Which brings me to the point of this article, this cleverness in business is not the exclusive domain of big business.
Did you know that 84% of all things made done produced sold are from small businesses, compared to 4% of mining, 6% manufacturing and 6% agriculture, forestry and fishing.
Cheers for now