In this Business Seller Briefing, Helen and Nick Galik, Co-Directors of Exford Meadows discuss:
- The property on offer, which includes such features as the spacious Rosemount House, a day spa, a gallery and a mineral water spring.
- Their experience expanding their business and being part of Hepburn Springs’ lucrative hotel and leisure industry.
- What a new owner could expect to gain from this exciting opportunity.
We spoke to Helen and Nick Galik, co-directors of Exford Meadows. They discussed their business which has recently been put on the market for sale. It is a lucrative property featuring an eight bedroom home, fully furnished accommodation, a day spa/gallery and a mineral water spring, and is being sold as two separate lots that can be purchased either separately or together. Operating directly across from Hepburn Springs Mineral Reserve, the business is primely located to benefit from the region’s vastly popular tourist destination.
EdenExchange: Thank you for speaking with us, Helen and Nick. Firstly, in simple terms, what does this business do?
Helen & Nick: The property is on 1.75 acres and consists of the eight bedroom Rosemount House, three self-contained accommodation cottages, as well as a multi purpose building which was originally built as a Day Spa and is currently operating as a gallery/gift shop and micro brewery.
EdenExchange: What initially brought you into the business? Can you tell us a bit about your background?
Helen & Nick: 26 years ago we made a tree change from Melbourne to rural Victoria to raise our family. Helen’s background is in teaching and Nick’s background is in clerical administration. We established the accommodation and increased our property’s value over the years by adding other businesses that complimented our tourism region. We set out to create a business in a clean, healthy and safe environment that would enable us to support our family. The goal was to be able to work from home, as well as to be able to enjoy Hepburn Springs and all of its benefits with our children. We also wanted to work for ourselves and be part of a rewarding service industry business.
EdenExchange: What markets does the business target? What opportunities exist within the hotel and leisure industry?
Helen & Nick: Our primary client bases are single people, couples, families, retirees and tourists seeking relaxation, health and wellbeing.
Opportunities are continually expanding, as tourism is a major employer and revenue contributor for the Hepburn Springs region, which is heavily promoted as a tourist attraction. The service component of the hospitality industry is very lucrative, the opportunities have always been boundless.
EdenExchange: This business operates in Hepburn Springs, the spa capital of Victoria. How important is the location to the hotel and leisure sector?
Helen & Nick: The hotel and leisure sector is one of the main industries in this region. Tourists come to Hepburn Springs to enjoy the health and wellbeing facilities that the region provides. It is also recognised as the largest concentration of mineral springs in Australia and home to our iconic tourist attraction, Hepburn Bathhouse, which is located in the Hepburn Springs Mineral Reserve.
EdenExchange: What are the businesses key strengths and what differentiates it from other operators in the industry? How has this evolved since you began running the business?
Helen & Nick: Our strengths lie in the fact that the business is family operated, as well as its tranquil bush setting located directly opposite the mineral reserve. It has the added perk of having our own mineral water spring on the property with a commercial licence, as well as a class 9B building that is commercially registered for a residential zone.
Our business is constantly evolving due to shifting environmental factors as well as the technological, political and social climates.
EdenExchange: Who would suit running this business? Who would benefit from strategically acquiring it?
Helen & Nick: This business could be suited to a range of people from a variety of backgrounds. To name a few, it would be a perfect opportunity for an investor, an experienced B&B operator, a young couple, families, retirees, tree-changers, artists, chefs or health/wellbeing specialists.
EdenExchange: What further growth opportunities are there for a new owner to expand the current operations?
Helen & Nick: There is a lot of potential for expanding and altering the existing business model. The new owner could subdivide the property, or divide the eight bedroom house into two adjoining buildings if they wish. There is also plenty of space on the property for more buildings to be built to complement the existing infrastructure. The main house has a variety of potential uses, such accommodation, a B&B, a gallery, a restaurant or cafe, a yoga centre or even a cooking school.
EdenExchange: What were some of the challenges you had to face to get the business to where it is today?
Helen & Nick: Having to schedule renovations while the business was operating was a challenging necessity. It’s also difficult to avoid being distracted by the wildlife (kangaroos etc.) and the surrounding environment, which is always very tempting. We also had to employ a lot of marketing and introduce third-party booking sites to get the business to where it is today.
EdenExchange: What’s the most rewarding part of running the business? What should a new owner expect?
Helen & Nick: You are your own boss: what you put into it is what you get out of it. We have been able to enjoy the flexibility and security that come with owning and running our own business.
We loved living on a property that was making an income. With this business you meet new people every day and get to build relationships with returning guests. There is also a sense of community that comes with being part of the tourism sector in our area.
EdenExchange: And finally, what’s included in the sale of the business?
Helen & Nick: An 8 bedroom home, fully furnished accommodation, a class 9B multi-purpose building (currently registered as a Day Spa), the website, 3rd party listings and a commercial mineral water licence.
EdenExchange: Thank you Helen and Nick, it’s been a pleasure.
To find out more about this opportunity click here.
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