🌴 Should you buy local or in your dream location?

Plus the 7 most interesting businesses listed this week...

Author

Sam Bass
July 17, 2023

Good morning, business buyers, and best of luck to all the buyers closing deals this week. May your negotiations be as smooth as butter on a pancake!

This week we had 208 new businesses listed.

Our mission is to help you find your perfect Business For Sale.

So today we break down:

  • Should you buy local or in your dream location?

  • Plus the 7 most interesting new businesses this week 👇

7 Most Interesting Business For Sale this Week:

Profitable Property Maintenance, Fencing and Security Doors Business on Central Coast $500k

Established in 2017, these 4 businesses have approximately 60% of business coming from Real Estate Agencies. Profit: $213k

Profitable Security Business with Government Contracts For Sale in Darwin $4.25m

Having built strong relationships and secured contracts with the Northern Territory Government and the private sector, this business has become a trusted provider of security services.

Winery Tours Business For Sale in Margaret River $130k

The Ultimate Lifestyle business. Successfully running for approx. 12 years. Badge of Excellence with TripAdvisor and over 1,000 five-star reviews.

Coastal Cafe on the Mornington Peninsula

Benefit from a loyal customer base, cultivated over time, with locals, HMAS Cerberus (Royal Australian Navy) base personnel and visitors.

Reef Fishing Business in Cairns $995k

One of the Seven Natural Wonders of the World, The Great Barrier Reef is the jewel in Queensland’s tourism crown and for the discerning Buyer, life on these pristine waters could be as lucrative as it is alluring.

Disability Services Registered NDIS Provider in Tasmania $1m

With a fully staffed and qualified team of 11 permanent part-time employees. Profit: $419k

Asian Fusion Bar & Restaurant in Broome, WA $400k

“The Aarli is worth getting on a plane for”. He went on to add “Broome is one of the most wonderful and unique places on earth. Aarli Bar is its best restaurant.”

Should you buy local or in your dream town?

Buying a business lets you decide what lifestyle you want to lead. One of the most important decisions is where you want to live.

Some people will only look at deals in their suburb, whilst some are looking to move interstate to start their life somewhere new.

Its cold everywhere down South at the moment so it might be tempting to consider a move North to buy a business.

Here are 4 pros and cons to consider for both:

  1. Personal Lifestyle

What are your long term goals? Are your family staying in the city and you want to spend more time with them. Or have your kids flown the nest and you want to move to the beach?

Relocating to a new town gives you a chance to create a life that fits your goals. However do not forget that the business still needs to thrive and be profitable.

Buying a business lets you shortcut this as you are able to see the business financials for the last few years to see how big the local market really is.

  1. Expertise

You will most likely be an expert in your local area. You know the school runs and the hidden parts of town. This gives you an advantage both in terms of knowledge of customers and in terms of networking with other people including business owners.

When you move location, you may lose this expertise so its important to research your new location. One way you can shortcut this after your move, is to join the local chamber of commerce or Entrepreneurs Organisation. These communities of business owners give you a network of other business owners to meet instantly.

  1. Logistics

Not the sexiest topic but if you are buying a business in an industry that involves a lot of freight then this could be essential.

Certain locations might have advantages by being near target markets, suppliers or infrastructure for distribution.

Alternatively the market might be just large enough to sustain one large profitable business but not large enough for competitors to enter. This is when smaller regional markets can also be more advantageous.

  1. Affordability

We all know what the Australian housing market and commercial Real Estate have done in the last few years. And certain areas are still more expensive than others.

A standard Sydney house might get you a much larger house in a regional area. For someone moving from Sydney this might help free up some capital to buy a business.

Or the rents on commercial industrial properties might be a lot cheaper in certain regional areas.

Here are some dream locations of mine that might inspire you to discover what businesses are for sale there:

Moving North to keep warm in winters…

Business For Sale around Australia

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Till next Tuesday!

Sam from Business For Sale