Rochelle Sells Her Non-Profitable Yoga Studio
We all know that single mothers have a backbone of steel but when you are taking care of children and trying to juggle running two businesses at the same time then something eventually has to give. Rochelle’s first step in regaining her sanity was the decision to sell her most recent project, a perfectly positioned yoga and pilates studio in Northern NSW.
Rochelle called Bonza after speaking to several local agents who wanted to charge not only an upfront advertising fee but 7% of the sale price in commission on sale. Bonza’s full business broking service has zero commission, so this meant Rochelle could sell her business and the money from the sale of her yoga studio ‘namastes’ right where it belongs – in her pocket.
Businesses come to market in many positions, achieving a successful sale all comes down to advertising the package well and pricing the opportunity fairly. Rochelle’s ideal lifestyle business had been running for 12 months and while it showed tremendous potential for growth, it was currently operating at a loss. A buyer’s main goal when researching potential business opportunities is to limit as much risk as possible. This meant that Rochelle’s business needed to be priced according to its current situation in order to appear attractive on the market and eliminate any possible negative thought process of a buyer.
At $70,000 (a value slightly less than original set up costs), Bonza received a great response to the business listing. With a total of 35 inquiries, the yoga and pilates studio exchanged hands in just under 4 months and Rochelle couldn’t have been happier with the result.
The licensed business brokers at Bonza have decades of experience in selling businesses in all kinds of conditions, their price advice always comes from a place of understanding the market as well as wanting the seller to achieve the best result for their situation.
If you are ever unsure if your business is able to be sold, please do not hesitate to give one of our friendly team a call on 1300 266 922 for an obligation-free chat today.