MESSAGE FROM THE PARTNERS
It is great to see so many businesses in NSW roaring back to life.
One of our clients is a fantastic example of this. Their business was turned upside down overnight when restrictions were imposed in March. Instead of spending time and energy fighting for a few customers in a significantly reduced market, they did what none of their competitors thought to do... They invested!
They invested in their plant and equipment assets, in this case - a boat! They invested in a complete mechanical and cosmetic overhaul.
While their competitors were busy trying to capture clientele, this business was preparing to come back stronger.
They are now the busiest boat on the harbour and are taking multiple function enquiries per day. In just 2 weeks they have booked over $410,000 in functions over the next 2 months. An astounding result and well deserved.
You can enquire on this business by clicking on the button below.
In other news this week, the 2020 budget also confirmed it will introduce a Loss Carry-Back scheme. This is good news for a lot of businesses who will be able to claim back a portion of the taxes they paid in prior years against any losses as a result of COVID. Read here
WHAT HAPPENS ONCE CONTRACTS ARE EXCHANGED?
In our last blog, we talked about what it takes to get the deal back on track if you find yourself at a stalemate with the other side (and their lawyer). Now that you have applied those simple rules and principles, you are probably ready to exchange contracts.
Congratulations! This is the point in the business sale process where you would be forgiven for celebrating with a glass of something nice!
Exchanging contracts can be a strange sensation for buyers and sellers, because over the last few weeks they have been negotiating on opposing sides, and by the flick of a pen they are now reunited side by side as they start to focus on the practical aspects of transitioning the business.
Believe it or not, even though there is a contract in place, there are still plenty of things that could go wrong. They could be minor, and cause nothing more than a small inconvenience to a buyer. Or they could be significant and material to the performance of the business. Read more
HOW DO YOU TURN AROUND A DEAL TODAY?
What do you do if things are just not going well during the contract stages? You think the deal that you have been working on for weeks or even months has been going... Read more
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Our mission is to transcend the standards of the business broker industry, and this means so much more than just selling businesses.
We would love for you to be part of our community.
From all of us at Vision Broker and Advisors, we really look forward to working with you.
Good luck, and make sure you have a look at our business for sale.