The business has been running successfully for 4 years via an online store and through stockists in and around Melbourne. It has also sold via pop-up shops/markets, ran workshops, exhibitions and leased products out for events/open houses, etc.
The business has a good following on social media and has gotten good press over the years and has been featured in The Age, SMH, Shop Till You Drop, House and Garden, Green Magazine and Hooray (previously Hitched) Magazine.
The owners are selling because work circumstances have changed and the business isn’t getting the attention it deserves. Given previous interest, the owners believe the business has a lot of potential, as time is dedicated to it again.
It would be a most credible bolt-on to an existing business in floristry or as a hobby/2nd income for the gardening enthusiast.
“Give yourself time – lots of it – if you want achieve the best outcome in selling your business.”
This is what I said to the good folk at BEmedia production recently, when they interviewed me for their Business Essentials Audio Programs…
If you’re thinking about selling your business, how about giving yourself three years to plan it all? That’s how long exit strategist Denise Hall would like to prepare a business for sale. There’s much to consider, she says. And don’t forget that an important ingredient is YOU and want you want in life when your business is finally behind you. Denise offers a 5-point checklist on what you need to consider before selling up.
Listen to it all hear…
Want to start this process softly softly, then I invite you to complete the Sellability Score questionnaire. It will provide a line-in-the-sand starting point, from which to build the plan. Once completed, I’ll be the one contacting you to talk through your plans.
Once again I had the good fortune to talk with Lorraine Pirihi about the importance of productivity and profit in your Business, highlighted by the 6 steps Lorraine often coaches by.
A snippet of the gold contained in the below recording and transcript goes as such:
“Quite often you’ll hear in the housing market about growth or cashflow. Business actually abides by similar rules. There’s growth and there’s cashflow. A lot of small business, especially if they intend to stay smallish business, need to concentrate on the cashflow aspect. Because unless you’ve actually got a plan to grow and go world domination – there is an element of growth that needs to be in there to maintain the cashflow, I get that – but they’re actually two different types of strategies. And cashflow, especially if you’re a solopreneur or if it’s a lifestyle business or it’s a second income or if it’s one that you don’t want to bust your chops running; then the logic has to be that it is cashflow based.”