Even though it is the third year in a row that Michael Yared has been nominated for Business Broker of the Year, he still considers it a great honour. As winner of the award last year, not just for Queensland but for Australia, he believes there are many professional business brokers in Queensland doing a great job, so to be nominated as one of four finalists is a real thrill.

“As I look back over the year in 2011, there have been a number of highlights as well as some challenges,” the Savvy Business salesman said. “Among the highlights was completing the largest business sale on the Sunshine Coast for the past three years. It was a large food wholesaler that had been established for 10 years and it sold for in excess of $2 million. “Another highlight is seeing a huge increase in the number of businesses that I am receiving from repeat and referral clients.”

After being in the industry for close to four years, Michael is starting to resell some of the businesses he sold in his earlier days. He is also seeing a lot of business come through referral, and some of these businesses are off the Coast. “An example of this is when I sold the Sunshine Coast territory for TFH (Temporary fence hire) earlier this year. The sale went really smoothly and head office was happy with the work that I did so they have recommended me to their Cairns area and Hervey Bay Territories which I have listed at the moment. “In an industry where word of mouth is such a strong form of advertising, to have my services recommended to others is the greatest way to gauge whether you are doing a good job.” One of the challenges at the moment, Michael sees, is under-supply of good quality businesses coming on to the market.

“There is a perception out there that it’s not a great time to sell a business, but the multiples that we are receiving for top shelf businesses has not changed at all over the past three years. I think that our sales results at Savvy Business Sales reflect this with a good variety of local businesses changing hands throughout the year.”

Michael says he tries to make sure that everything is done to the highest standard possible and that he gives clients the same service he would expect if he was selling a business.