Aptly-named business brokers, Savvy Business Sales, have proven that building exceptional systems and keeping a positive attitude to bolster client confidence in a tough market is a winning formula.

Savvy took out the prestigious Small Business of the Year award at the 2011 Sunshine Coast Excellence in Business Awards on Saturday night.

Principal Rod Russell said that Savvy continues to enjoy success, in spite of challenging times.   “Business broking Australia-wide is finding life very tough with many formerly profitable businesses becoming unsaleable. In contrast, we’re going from strength-to-strength.

“In fact, by the end of this year we’ll have doubled the size of our team to cater for the growth we’re experiencing,” he said.

Mr Russell said he was extremely proud of his team, and praised their contribution in Savvy Business Sales being recognised as the Sunshine Coast’s best small business. “Most businesses are small businesses, employing less than 20 staff. So to be named as the best small business on the Coast is an incredible accolade.”

Small business plays a pivotal role in economic prosperity, with 96 percent of all actively trading entities being small businesses. Collectively they employ almost half of the nation’s workforce.Specialising in business sales above $300,000, Savvy lives up to its motto of “raising the standards in business sales” – proof being that nearly 70 percent of sales originate from referrals or repeat clients.

“Many of our clients have bought or sold businesses through Savvy previously, and return to us because we’re forthright and don’t offer false hopes. Most also appreciate our innovative marketing and the systems we’ve developed specifically to support their sale,” Mr Russell said.

Savvy has achieved more than $140 million in business sales over the past four years.

“I feel that the outlook for businesses on the Sunshine Coast is really looking up, and accordingly Savvy has set an ambitious target for attracting new clients in 2012.

“This is our third Sunshine Coast Excellence in Business Award. We previously won the Business Services category in 2008 and 2009, and so it’s fitting that we’ve taken out one of the major awards,” Mr Russell said.

KAWANA will become the Sunshine Coast’s ‘resources boom’ – a ‘game changer’ for the region which will inject $1 million a day for five years.

More than 200 business leaders attended a half-day forum in Maroochydore yesterday to see how they could be part of what will be a $3.5 billion injection in the local economy from the hospital and surrounding development. (Read more) http://www.sunshinecoastdaily.com.au/story/2011/09/16/our-resources-boom

   Buying a business on the Sunshine Coast is not easy.  Typically the local market is
crowded with buyers while supply of quality business opportunities is often low.

Despite this, most buyers will eventually find their match.  The key point to be patient and do as much
research as you can, stay within your financial limits and, most of all, ensure that you have the ability
to competently operate the business you are interested in.

Show that you are keen – local business brokers get swamped with inquiries from buyers on a daily basis.
Often quality listings will get snapped up quickly once they are marketed online and in the press.  So if you
are serious about it and establish a good relationship with local brokers to ensure that you are top of mind.

Research everything – if you find a suitable business do your homework and learn as much as you possibly
can about it.  Are there new competitors coming to town, research the services and products on offer, how
easy is it to find industry experienced staff, is the rent fair for the location, what is a fair value for the
equipment, will you need to upgrade the fit-out, are there special licences required to own the business?
These basic checks can be done easily and shouldn’t cost you money – well worth the peace of mind.

Risk and return – the most common question that I get asked is “how do you value a business?” There
is no black and white answer to this question.  However, I suggest looking at the level of risk in the
business and what the return on investment is.  Obviously a buyer would expect to pay more money
for a long established business over a business with only 18 months history.

However, many experienced business operators would take a risk on the newer business and take advantage
of a lower asking price.  This is where the risk and return scenario will depend on the buyer’s situation.

Due diligence – an absolute must!  Take the time and spend the money to do a thorough due diligence on the
business while the contract terms allow you to.  Your investment with solicitors and accountants is normally
only a fraction of the purchase price of a business yet it could save you from losing everything.  It is of
utmost importance to ensure that you are dealing with qualified advisors who specialise in business and
commercial transactions.

Tuition – most buyers underestimate the knowledge and the role of the seller.  Most sellers have years of
industry experience and an intimate knowledge of clients, products and staff etc.  You must take
advantage of a suitable tuition period after settlement.  This is not a time to arrange bank accounts and
credit applications.  This period is crucial to a smooth takeover and your ongoing success in the business
and is the very best time to learn everything you can.

by Rod Russell
Principal

INTEGRITY LEADS TO WIN

MICHAEL Yared is always striving to improve his operating standards to be among the best.  Yet the 30-year-old business broker never thought he would achieve what he has so quickly.

Last Thursday night Michael took out the prestigious Business Broker of the Year Award for 2011 at the REIA (Real Estate Institute of Australia).

It’s an historic win as Michael is the first Sunshine Coaster to receive an REIA award.

It is also a fitting tribute to his grandparents Frank and Daphne who have been the biggest inspiration for Michael.

“My grandfather emigrated here from Lebanon when he was two years old, sadly his mother died soon after”, Michael said.  “When he married my grandmother  they started out with nothing.  With a lot of hard work they built up several different businesses. “More than just being successful in business, they are also great people – selfless, generous, with strong morals and integrity.

“Always putting others first they have incredible integrity and morals.  They had a great work life balance and built a very successful business by working hard and doing the simple things.  They are both elderly now – my grandfather turns 97 next week – and even now they still try to serve others as much as possible and put others first.

“I hope that I live my life the way that they have”.

Michael won the Queensland state awards in February which elevated him to the national finals with other state winners.  The awards were held on the Gold Coast last Thursday.  Now in its sixth year, the REIA awards recognise real estate professionals who have contributed at an outstanding level to their business, their industry and their community.

“It is really encouraging to be rewarded for my hard work and it drives me to work even harder” Michael said.

“To win the award is very humbling, there are so many good business brokers across Australia and to be named the best of them is a huge honour.  We’ve worked very hard at to improve our systems so I can offer clients the very best service and results possible.

“I am really looking forward to the year ahead as the business sales market is still strong and we are achieving excellent results across the board”, Michael said.

As well as his family, Michael attributes much of his success to Savvy Business Sales principal Rod Russell – someone who has been in the industry for as long as any broker on the Coast.

“Rod has a lot of experience and he is a great person to have on your side”, he said.

And it gave Rod a great deal of pride to see Michael accept the award.

“It is excellent recognition for the effort that Michael has put nto his career and into the industry over the past three years,” he said.

“His work ethic, tireless commitment and sales results in tough economic times have been outstanding.  The team at Savvy are very proud of Michael and the fact that he bought such a prestigious award to the Sunshine Coast”.

Two-time winner of the REIQ Business Brokers of the Year, Ron Frank of Business Brokers Queensland, has also been supportive of Michael, who completed a bachelor of commerce degree at university and said it had helped him.

CONTACT: Michael Yared – 5444 3300 or 0409 931 600