OTTAWA—Buying or selling a business can be risky, but it doesn’t have to be.
That risk brings fear. Success rates for starting a new business are grim, but buying an established business is a safer bet—safer yet with a bit of help from some experts.
Like figuring out what the right business to buy is, and having confidence in its success and profitability. That’s where Sunbelt Business Brokers comes in, helping people make one of the most import decisions of their lives.
Steven Clyne was a first-time business owner when he bought Allegro Ristorante on Preston Street last summer. He has seen a steady climb in his business ever since. Clyne feels that he may not have been able to do it without Sunbelt.
“I’m not sure if I would have gone through with it if it had not been for the people at Sunbelt,” he said.
“They expedited the sale from start to finish and kept in touch. They were readily available to offer advice even months after the sale.”
Clyne said he was treated with respect and never felt inferior because of his inexperience.
“I felt very comfortable working with Sunbelt and have a nice business because of them,” said Clyne. “They fully understood my financial situation and in no way attempted to push something that they knew I could not afford.”
Sunbelt President Greg Kells owned and sold a number of successful businesses before beginning his career helping others do the same.
Sunbelt makes claim to being the largest business brokerage firm in the world. From their 250 offices around the globe, they coordinate an estimated 3,000 business deals a year. Those businesses can be worth anywhere from tens of thousands of dollars to more than $20 million.
Kells said only three of the 400 businesses he has sold in the last 12 years having failed. That is a 99.3 percent success rate. He said they were aiming for 98 percent.
That success is based in large part on learning the needs of the buyer and the seller so that both can win.
To help that along, Kells recently released two books: “Insider Tips on Buying a Business in Canada” and “Insider Tips on Selling a Business in Canada.” The latter was a winner in the 2013 Small Business Book Awards.
While the books can prepare those looking to buy or sell a business, it’s Sunbelt’s job to manage the due diligence of the sale.
That means making sure sellers get a good return and buyers get a business that will work for them.
Sometimes that means turning away a buyer, even if the buyer thinks that the business is right for him or her.
Sunbelt will sometimes arrange for sellers to loan buyers the money to purchase their business. Kells said this keeps the seller honest and gives the buyer confidence.
Such an arrangement also keeps the seller on board as an adviser, making sure the buyer is well-trained and knows how to run the business well.
For more information visit sunbeltcanada.com
