Business Q&A

Tell us about the work you do with ABC in Queenstown Lakes?

The idea is to put together a simple, no-nonsense sales roadmap to make it easier for business owners to move on from their companies. It all starts with getting why an owner wants to sell in the first place. From figuring out what the business is really worth, through to having the right conversations with genuine purchasers, every part of the process matters. One of major roles in this job is getting a good grip on what motivates both the seller and the buyer. This insight is pivotal in facilitating a smooth handover that satisfies both parties. Lately, I’ve seen more action happening off-market, so a bigger chunk of what I do now involves helping people find opportunities to buy into specific industries.

How is the market post-Covid? Are sales of Queenstown businesses picking up?

There is no doubt that the previous 24 months have been challenging in many ways for local businesses, however we have continued to facilitate transactions with willing buyers and sellers. ABC expects business prices to go up by 5%-7% over the next year. This bump is mainly because more people are moving to the country than ever, everyone’s hoping for lower interest rates, and it’s expected that it might get a bit easier to find staff. With unemployment possibly going up in 2024, we’re likely to see more people who’ve left corporate gigs or are between contracts jumping into the market, keen on driving their own thing, stimulating the “Buy Yourself a Job” market. Plus, there’s always a steady crowd dreaming of swapping life in the big smoke for a new start in places like the Queenstown Lakes.

Any tips for people looking to sell or buy a business?

I can’t emphasise enough how key it is to start talking about these things early on. Getting your business ready for a good sale isn’t something you can do overnight. Making sure you and your advisors are on the same page with your plan, and giving yourselves enough time to work on it, really ups your chances of securing a successful sale. If you’re thinking about buying a business, it’s smart to have a clear picture of what you’re looking for. Start looking into how much you can borrow, how much time you can put into it, and whether you’re open to teaming up with others.

What’s your background?

My journey as a business owner began around 15 years ago with a franchise in Queenstown, and later transitioned into owning and operating a tourism business in Nelson. Along the way, I’ve also ventured into construction projects, offering me a diverse range of experiences across various business models and industries. Having been in the shoes of small business owners myself, I understand the dedication and effort it takes to build something from the ground up. This firsthand experience enables me to collaborate with both owners and potential buyers, providing insights into what an acquisition might entail and the potential opportunities that may arise. While numbers play a significant role in the process, it’s crucial to take a holistic view of the situation, considering all the different aspects involved.