In the recently concluded July, our team achieved remarkable success by selling a café in Strathfield, a café bar in Newcastle, and a Fish & Chips shop in the Eastern Suburbs. Today, let’s talk about the stories behind these three business transactions.
Strathfield Café Sold in Two Months
This small café had a prime location, was easy to manage, and had stable revenue. The seller decided to sell quickly due to health reasons. Given the café had only a two-year lease, the seller agreed with our suggestion to list it at a lower price. As expected, the market response was very positive once the listing went live.
In just one month, we received over 50 inquiries from potential buyers. Although they had no objections to the business details and the information we provided, the lease issue became the biggest obstacle in the transaction. We persuaded the seller to communicate with the landlord’s agent to secure a new lease or extend the current lease. As feedback from the market came in, the seller gradually realized that our assessment was accurate and began proactively negotiating with the landlord’s agent.
Before the new lease was finalized, a Chinese buyer emerged, clearly well-prepared and experienced in purchasing businesses. Despite the lack of a new lease, he made a reasonable offer and signed the contract. As intermediaries, we knew that once the contract was signed, the buyer could not back out. We could have just waited for the lease transfer to be completed and secured our commission. However, we understood that having only a two-year lease posed a significant risk for the buyer, and we hoped for a better outcome. The seller also actively supported the buyer and worked closely with us to contact the landlord’s agent multiple times. Eventually, we and the buyer met with the landlord. The buyer’s sincere attitude impressed the landlord, who ultimately granted a new 4+2 year lease, far exceeding expectations. The transaction was completed successfully, with all parties satisfied.
In this process, we were pleased not only with closing a deal but also with fostering trust and collaboration. The buyer placed their trust in us, and we could not let them down. We worked tirelessly with the seller and other parties involved to fulfill our mission, ensuring a positive outcome for everyone.
Newcastle Café Bar Sold
This transaction stemmed from trust and gratitude. At the end of 2022, the owner of a Newcastle Chinese restaurant, which we had previously sold, recommended this café owner to us. Feeling the weight of this trust, we were determined not to disappoint.
Selling a business during the pandemic was extremely challenging, and until the end of 2023, we had not found a suitable buyer. We decided to bring in a new agent, made more comprehensive preparations, and continued our efforts. After more than six months, we found a promising buyer and received a reasonable offer. However, due to personal reasons, the seller temporarily decided not to accept the offer, causing us to miss the opportunity.
By mid-2024, three buyers cooperated to purchase the business, demonstrating enough determination and sincerity, leading the seller to finally decide to proceed with the transaction. However, the seller was concerned that the landlord might take the opportunity to raise the rent, potentially scaring off the buyers. We used our legal knowledge to alleviate the seller’s concerns and actively communicated with the landlord, successfully getting them to accept the buyers’ lease transfer application, removing the final obstacle. The transaction was completed smoothly.
To date, we have successfully sold five businesses in Newcastle, with a very high success rate. Newcastle has undoubtedly been a lucky place for us. We are grateful for the trust of our clients and the persistent efforts of our team. After 20 months, we finally succeeded in selling this business.
Fish & Chips Shop Sold
This was a well-known Fish & Chips shop in the Eastern Suburbs with a history of over 20 years. Although the business was small, its reasonable rent made it attractive to certain buyers. The only challenge was that it was a government-subsidized property, with the landlord being a government department, which meant the process was relatively slow. We spent a significant amount of time resolving the lease issue, and in the end, with the joint efforts of both the buyer and seller, all parties reached an agreement, and the business was successfully sold.
Sincerity is the best business card we can offer to our clients, and trust is the best reward they can give us!
