Now that we’ve had a chance to catch a momentary breath, thought it worth sharing with you what we learnt from the GFC as a gauge to how this current situation may play out:
- Beat the Rush! Unfortunately, there will be business failure fallout due to what’s happening but not just yet. Quality business to buy is available now and will be for the continued foreseeable future, or at least until the distressed ones start hitting and clouding the market. Being in front of the Buying pack will work in your favour.
- Buyers continue to look to buy businesses, with our inquiries over the last week the highest they’ve been in some time.
- Buyers do so because it is a good time to seek out opportunistic acquisitions of quality, or looking out for perceived bargains, or even for Income Replacement due to job loss.
- Granted, it may take a little longer to transact, and all your risk-averse advisors will say the time is not right, but the longer time a business is in the market, it will give continued exposure, meaning more Buyers can come forward.
- The market will take time to settle. You as the Buyer therefore may need the Owner to be around longer than first intended. This can be good as it will give some certainty of mutual support in sharing the risk, as well as the possible option of a reduced agreed payment upfront as well.
- A good business it will stand out. A good business will always find a Buyer.
- All of that said — nobody knows how far away waiting for a “better time” will be…
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