Party Hire Business Sold!
We can all agree that COVID-19 has impacted all aspects of our lives in one way or another. Business owners across all industries have had to make some pretty big decisions about their future and what needed to be done to survive the effects. The one sector where this pandemic has taken the biggest toll is undoubtedly in the events industry. Event planners, party hire businesses, caterers, wedding suppliers, and party organisers are among those who have been worst hit by the sudden slump in this economic meltdown.
So, what would be the likelihood of a party hire business selling during the midst of a pandemic be? Well, pretty good actually! Lyn’s recent sale is proof that this is possible, all you need is Bonza, a trust in the process, to have patience and embrace the uncertainty.
When Lyn first called Bonza in April 2020, due to family commitments requiring an interstate move, it was no wonder she was plagued with doubt and unsure if anyone would be willing to pay for her business. She had 7 years of consistently increasing profits but had since come to a stand still due to reasons out of all of our control. The simple answer to Lyn’s question was, yes, and you should be able to achieve a great result by recognising your businesses worth.
While this pandemic has shut down many doors on the event industry, it has also opened some new windows of opportunity for those associated. This created hope that the buyer would be out there and after 180 days on the market Lyn’s patience and Bonza’s perseverance paid off. During this time there was only 9 enquiries made on this listing, however it only takes one enquiry for the business to sell. Lyn was also able to achieve her desired price of over $200,000 for the business.