New years eve of 2021 – a celebration of more than just another 365 days. This was a celebration of hope and resilience. It became clear that 2022 represented an opportunity for change, renewal and motivation.
Post lockdown, we saw the beginning of an increase of business owners looking to exit. Many of these operators had held off listing during the tumultuous two years prior - in the belief that there wouldn’t be buyers brave enough to invest in unstable times. In reality, the buyers’ market had remained robust and was about to see an unprecedented surge.
By January 7th, we hosted an inspection with a Sydney tree-change couple at Quattro Pizza in Berry. This inspection led to one of the first successful business sales for the year, and there were plenty more to come.
The equally happy business sellers & new owners of Quattro Pizza, Berry.
The MMJ Business Sales team recorded an all-time high of buyer enquiries in January, and proceeded to break this record in February, then March and again in April.
Sellers from a variety of industries had decided to list, from hospitality, retail, beauty services, distribution, construction to marketing. These listings were spread across the South Coast, Southern Highlands and into Southern Sydney:
The influx of new businesses for sale created additional pressure on the business sales team to find buyers for our existing thirty listings. Fortunately, these increased buyer enquiries were able to be transformed into several successful business sales.
The first business in 2022 that the MMJ Business Sales team sold was a leading Wollongong based Blind & Awning Installation business. Purchased by a Sydney buyer after receiving 25 enquiries and 2 offers. The business was well prepared for sale, exhibiting strong growth and profitability – achieving a sale price surpassing the owner’s expectations.
This was quickly followed by the sale of Kembla Kitchens, a well-established Wollongong kitchen installation company. After 19 years in business, MMJ was able to find a buyer and help the owners Kevin & Marilyn enjoy their well-earned retirement. Once again the successful buyer was from Sydney – emphasising the importance of strategic marketing.
Exciting next chapter for the new owners, and a well deserved retirement for the business sellers.
April was a frenetic month, with 4 businesses transacting successfully and all from the hospitality industry. Two well known Berry food businesses, Quattro Pizza and the iconic café/venue Salmon & Co proceeded to handover within the month. Salmon & Co sold to Nat & Wes, young buyers from Milton who have already transformed the venue into The Rutledge Bar & Eats – filling a gap in the market. The business was taken to market in an ‘Expressions of Interest’ campaign that resulted in 4 potential buyers trading offers - as close to an auction as a business sale gets.
Salmon & Co prior to it’s reinvention as The Rutledge Bar & Eats by it’s new owners.
MMJ also assisted with the rapid sale of Primary Espresso Cafe in Bowral. The business was only on the market for 80 days, compared to the market average of 180 days. The previous owners to return to their roles in the reopening aviation and tourism sectors. The buyer was a Southern Highlands local, new to hospitality but experienced in running other businesses. The final April sale was Alter Eco café in Nowra. This was an excellent first business for the new owner Jacob, who together with the seller, Bec, patiently worked through some administrative complications to a successful sale. This sale highlighted the true worth of engaging a business broker, not only can we find the right buyer we can also help hold the deal together when complications arise with contracts, leases and lenders.
Since April, another two business owners have successfully sold with MMJ. Frank and Nat sold their Ready Set Play business to yet another Sydney buyer from the amusement industry who has big plans for the Albion Park play centre. Also in Albion Park, the Bin Master Skip Bin hire business settled in June, with the new local owners Jaydn and Emma off to a flying start.
Bin Master now has a new owner.
The successful business sales look set to continue, with six more businesses already under offer or exchanged. These results will be in the next MMJ Business Sales market update and include some high-profile sales across the region.
Martin, Justin and Charlotte look forward to helping more business owners across the South Coast, Southern Highlands and Southern Sydney find buyers for their business and assist through to a successful sale.
Business buyers can anticipate more exciting listings in the coming months, including an iconic regional retail outlet, a South Coast manufacture and installation business, a local convenience store/deli and some high performing hospitality businesses.
The MMJ Business Sales team welcomed our new Sales Assistant Charlotte Steen in the first half of 2022. Charlotte brings an innate business acumen to the role and has hit the ground running assisting with the record number of business buyer and seller enquiries.
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| Martin Lo Surdo Director |
Justin Bunt Business Sales Consultant |
Charlotte Steen Business Sales Assistant |
Martin, Justin and Charlotte look forward to helping more business owners across the South Coast, Southern Highlands and Southern Sydney find buyers for their business and assist through to a successful sale.