We all need to brace ourselves for these advancing marketing trends…
Eden Exchange recently spoke with Peter Golding who is a founder and principle broker at Core Business Brokers, one of Sydney’s leading and most established business brokers. Industry veterans, they have a long history in the sales of many businesses across a wide spectrum of industries.
Thanks for talking with us Peter. Firstly, what brought you into the world business broking? Can you tell us a little bit about your background and career?
After running my own small business for many years I noticed a somewhat lack of credibility in the Business Brokering industry. I decided to see if I could make a difference and while doing my licensing requirements met up with Roy Levy an Accountant and together we formed Core Business Brokers in 1999.
What markets do Core Business Brokers focus on? What are you areas of expertise?
We specialise in service to our clients rather than any particular Industry. We get enquiries from many small to medium sized business owners who are looking for a broker to help them achieve their goals. We believe that once we have been provided a comprehensive list of information from our vendors that we have the expertise to evaluate their business and to provide the best professional advice no matter what the industry.
How do you match a buyer with the right opportunity? Do you have a process you follow?
We work in discretion for our business owners not the buyers. We have a strong database of buyers who we categorize as Food or Non Food buyers. Once we list a business we send an email teaser alert to our database before the business goes to the open market. We have been able to on many occasions achieve a result without needing to go to the open market. If this is not satisfactory our listings are placed with the utmost discretion on various web selling platforms.
What advice do you have on making a business saleable? What’s the key message you tell your clients?
We have a check list of information that is required before we are able to list a business for sale. We need to gather all the information so that we understand fully the business we are selling but also so that our buyers are well informed.
Do you have any advice for a business owner looking to value their business for the first time?
It is common that many business owners have an unrealistic expectation for their business. Any owner needs to be aware of the market conditions and a number of factors that will affect the sales price of their opportunity. It is our role to go through the information and provide an objective appraisal for them.
How do you think the New South Wales market is perceived by business buyers? Has this changed significantly over the last few years?
It is my opinion that when a quality business is available there are quality buyers that put their hands up straight away. If a business has not been sold after 6 to 8 weeks, both the broker and the business owner need to sit down and see why not.
What major industry trends you believe buyers and sellers should be aware of? How has marketing changed in the field?
Marketing has changed from the press media to the internet. We all need to brace ourselves for these advancing marketing trends. Core Business Brokers displays our listings on 8-9 various web selling platforms all included in an upfront marketing fee for our clients.
What separates a good advisor from an average one?
An advisor is only as good as the information presented to them. As long as all the relevant business information is available and provided we are able to make an informed decision on the value of the business and its prospects.
What’s the best part about your job? What drives you to do what you do?
Our business is extremely interesting as each business we engage to sell has unique features. We take great delight in assisting our business owners especially those looking to sell for particular reasons that we know are genuine.
Thanks for your time Peter
See the Core Business Brokers
full business profile here
Core Business Brokers undertakes the listing, sale, merger and acquisitions of businesses situated in NSW. They do not specialise in any particular industry and have a long history in the sales of many businesses across a very diverse spectrum of industries. They have also been able to assist businesses in identifying acquisition targets and then discreetly approaching those targets in order to achieve a win-win outcome for all parties. Core has a team of 4 brokers who work together in achieving the objectives of our clients.
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