Where Does your Business Sit in the Community? Broker Briefing with Ballarat and Geelong Business Brokers

Buying and selling a business in regional areas has its own set of challenges and benefits. Regional business brokers need a special set of skills and connections to successfully make a deal.

Eden Exchange recently talked to Peter Gubbins, founder and owner of Ballarat and Geelong Business Brokers, a leading Australian business brokerage in regional Victoria.

EdenExchange

Thanks for speaking with us Peter. What brought you into the world business broking? Can you tell us a bit about your background and career?

Peter Gubbins

I had a background of owning and running my own businesses in areas such as food and hospitality, as a qualified residential builder and as a real estate agent. I was fortunate to reach a lot of my personal and professional goals and decided to use my knowledge to help others sell and purchase businesses.

EdenExchange

What markets does Ballarat and Geelong Business Brokers focus on?  What do you specialise in?

Peter Gubbins

We don’t limit ourselves to a specific market.  All businesses for sale in Regional Victoria are our focus.

EdenExchange

How do you match a buyer with the right opportunity? Are there any rules you stick to?

Peter Gubbins

We find that buyers know what they don’t want rather than what they do want.  We try to match their skills set with that required in the business on offer.

EdenExchange

What advice do you have on positioning a business for sale, especially in a regional area? What’s key piece of advice do you communicate to your clients about this?

Peter Gubbins

The main advice when working with owners is to confirm “where does your business sit in the community?”  This is, in turn, is important to convey to any purchasers interested in buying the business.

EdenExchange

What are the major industry trends do you believe buyers and sellers should be aware of?

Peter Gubbins

Return on Investment and potential growth of the business.  Both are equally important.

EdenExchange

What advice do you have for a business owner thinking about selling their business for the first time?

Peter Gubbins

Owners should understand ‘value for money’ when they choose a broker.  They should be aware that the broker with the cheapest or most expensive engagement fee is not necessarily the best broker for marketing their business.

All financials should be up to date & available for the launch of the business sale; ie, Profit & Loss, Plant & Equipment, Depreciation Schedule, Lease (if applicable), etc.

EdenExchange

In your opinion, what makes a good broker, especially one servicing regional areas?

Peter Gubbins

Good business brokers should have an extensive experience in a wide range of business types, financial models and current market trends.

EdenExchange

What’s the most interesting part of your job?

Peter Gubbins

Helping people to either sell, or buy, a business is what we do.  Every day is different with different people, different businesses — all bring to us a wide array of interesting life stories.

EdenExchange

Thanks for your time Peter

Peter Gubbins

My pleasure.

 

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Peter Gubbins

Director – Ballarat & Geelong Business Brokers

 

Ballarat Business Brokers Pty Limited was established in Victoria in 2008. Peter Gubbins is the principal of this agency, specialising in business broking services. With over a decade of experience owning and operating a busy business broking agency interstate Peter recognised a need for a focussed business broking firm based in regional Victoria.