Sydney’s Construction Business Sold
You will not find a more dynamic duo than a husband and wife family business partnership. With around 70% of Australian businesses family-owned and operated, it is no surprise that many of the small businesses across the country are operated by husband and wife teams, or at least started out that way. Teaming up with your life partner can be not only a satisfying professional move but a profitable one.
This was the case for Eva and her partner, who came together to build a highly successful and hugely profitable construction roofing business located in Sydney. For 30+ years this couple developed strong earnings, a great reputation and excellent client relationships. With so many goals and milestones reached during this time, Eva decided it was time to move out of the family business and take on another challenge – surviving retirement with your spouse.
Eva first contacted Bonza to find out what her family business could potentially sell for, the simple and free appraisal service offered was able to aid them in making a decision on whether to sell now or continue working for the time being. It was explained to Eva that when you have a profitable business, it is a case of calculating the adjusted net earning for the new buyer and then apply a multiple to that figure (return on investment analysis). The ‘multiple’ amounts are generally industry specific or based on the businesses size and earnings.
Armed with a detailed appraisal and a greater understanding of the sales process, Eva chose to list the business with Bonza. The successful construction business sold for $399,000 with a total of 9 inquiries. Another fantastic result for a deserving business.