Our business broker, Travis Du, successfully settled two café business deals in May. With over 20 years of experience and a deep understanding of local and global industries, Travis possesses diverse qualifications that allow him to combine the art and science of design, the intricacies of construction, the practicalities of hospitality, and the business acumen needed for successful deals.
Here are some insights and reflections he has gathered from these transactions.
Our Client – The Vendor
In May, we successfully sold 2 café businesses in the Lower North Shore with quick and seamless transactions for the vendors. We dedicated time to understanding each client’s business individually. For instance, one café owner’s business was operating smoothly and had potential for further growth with extended trading hours. However, the owner decided to sell as it was the right time to step away and spend more time with their family. On the other hand, other café business owner is hanging on thin wire with restricted trading time and reduced labour cost to maintain a profit margins. Through these experiences, we gained insights into their exit plans and expectations.
The Sales Strategies
Currently, the hospitality industry is facing labour shortages, and we understand that a thriving business depends on a good location and favourable lease terms.
Regarding the location, both cafes differed in several aspects. For example, one was situated in St Leonards, a well-known dining scene and a public transport hub. The other was in Willoughby, which may not have been recognized for its dining scene or public transport accessibility. However, Willoughby is a close-knit community with strong support and is a popular suburb within the catchment area of 8 schools within a 2km radius. Each of these cafes thrived in their respective environments at different times.
By conducting a thorough list of enquiries for cafes on sale, we interviewed numerous buyers and gathered information specific to each café business. With this wealth of information, we successfully matched the right buyer with the vendor. However, our hard work did not end there. We also assisted in negotiating attractive lease terms for the buyers, resulting in a smooth and positive outcome.
We were present during the introductory meeting between the new owners and the staff at one of the cafes. We understand that it can be a nerve-wracking experience for the new owner to meet the existing staff, and equally daunting for the staff to meet their new boss. Therefore, we facilitated the meeting to make it more comfortable and productive, ensuring a mutually beneficial and rewarding gathering.
The key to selling a café business lies in understanding the business, operations, staff, customers, and coffee. Through this approach, we empower our buyers and guide them on a journey to find the right café for their aspirations.”
Travis is committed to delivering results and approaches every transaction with vendors and purchasers in a professional manner. For further inquiries or expressions of interest, please do not hesitate to contact Travis, who currently manages a diverse portfolio of businesses available for acquisition.
We sincerely appreciate your attention and trust in our professional services.
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