Buying or selling a business is not always an easy task as it is an important and difficult decision for oneself and for one’s family. However, I had a pleasurable experience both ways when I purchased, and later on, sold a business through Jeff Bracegirdle, a business broker with RE/MAX Pinnacle.
The business broker plays a very important role in the sale and purchase of any business as he stands as the main bridge between the purchaser and vendor. It is certainly not an enviable position to be in, as the vendor always wants the highest price when he sells, as much as the buyer tries to pin down to the lowest possible price.
I found Jeff to be very honest and transparent, very professional and methodical, very organized and systematic, and more importantly very trustworthy and convincing.
He was able to provide all the relevant papers – whether it was from the vendor, his accountant or lawyer – that made my life easy when I did my due diligence work as a purchaser.
After a successful length of trading, a change of circumstance forced me to see the business. This was an easy call to make – to ring Jeff again!
I was amazed to see Jeff bring a clean contract in a very short period of time. He has the uncanny ability to scan the buyer’s profile well, and ensure that his purchaser is genuine, and has got all it takes to buy a business.
Jeff’s background as a chartered accountant, and his vast network of essential business contacts, help him do the balancing act perfectly well.
Jeff’s rich experience truly enriched my experience — both as a buyer and as a seller.
I wish Jeff all the very best in his future endeavours.
Sugan & Ramnath Premnath
Now I might say from the outset as far as I was concerned I knew what my business was worth and I was absolutely clear with Jeff that I would not entertain any offers for a cent less than my asking price!
I had previous experience of low offers and all that did was both upset and annoy me. So Jeff understood this from day one and respected my opinion and took me at my word!
It was the end result that I was concerned about. Jeff generated interest and offers both internationally and locally.
None of these was for less than the asking price! So he was, if nothing else, a good listener and was not one of those agents that list your business with the intent of beating you down in price – quite the opposite was my experience. He worked for me and had my interests as his priority.
Because of the length of time my business had been on the market and my concerns that the previous agent may have burnt the market I was keen on getting an offer with the minimum number of conditions and especially I was concerned that a purchaser would be a cash purchaser because of the large goodwill content of the asking price and my perception of the difficulty of funding that in today’s financial climate.
None of the offers presented to me were from non-cash buyers! In all I received a total of 4 offers. The eventual successful purchaser’s offer (which was not less than the asking price as I had said above) was of course a cash offer with no other conditions whatsoever (none!) other than a transfer of the lease of premises and that condition was to be fulfilled within a couple of days.
Now Jeff in his modesty indicated to me that my outcome was exceptional but in reality not only did Jeff present my business in a manner that resulted in that outcome he also only brought a total of two (actual prospective purchaser’s) to “view my business” and these two were of course two of the four offers I received and surprisingly it was one of the other two non-viewers that I actually sold my business to! Jeff must have done something right to achieve such a phenomenal, you would have to say almost unbelievable, outcome.
Then in retrospect I guess he would not be the No 1 agent he is unless he had such unique capabilities.
For me I got the sale I wanted.
In fact, the first of the four offer I received was within a few short weeks of the business being marketed by Jeff; I got the price I wanted; None of the 4 offers were for less than my asking price; I got (almost) an unconditional offer too true to believe; I never met the purchaser to a couple of days before possession; I did not have to waste time with tyre kickers; Jeff handled the deal in conjunction with my lawyer and was there for me and my business right up to possession date. Then after the event he had the audacity (cheeky honesty) to say that he was of the opinion that had I actually followed the initial advice he gave me in respect of marketing and presentation of the business he thought he could have sold it quicker than he actually did ! – and he might have been correct about that but in retrospect I had inherited a bad experience from previous attempts to sell my business and when I first met Jeff my judgment was no doubt clouded by those inherited doubts and scepticism.
The advice I have for anyone thinking about selling their business is simply this – think first before you venture down the path to selling your business because if my experience is anything to go by the wrong strategy with the wrong people (no matter what their particular sales propaganda says) can end in delayed disaster and on-going frustration whereas making the right decisions at the outset can in fact result in unbelievable outcomes. None of us sell businesses for a living nor do our professional advisers (accountants etc) so leave it to the experts, take on board their advice but most importantly pick the right expert!
Good luck and I sincerely hope your journey will result in the excellent outcome and service I was fortunate enough to eventually experience.
I unreservedly recommend Jeff Bracegirdle to you should you be looking to sell your business he is without a doubt, at least in my case, worth twice his normal fee!
Yvonne Koppenhagen – Flypark – Auckland Airport.
I am not sure how it came about that I empowered Jeff Bracegirdle to broker my business.
It was not via a recommendation nor by directory, perhaps by way of his prowess and persistence but engage him I did, sight unseen!
My business sold in just three months ($1,000,000 to $2,000,000 bracket) and I have still not met Jeff, but I am so pleased I am engaged him to do the necessary.
From the first conversation I felt at ease, and right through to the conclusion Jeff was professional, responsive, accommodating, firm and decisive.
I was contacted regularly, and questioned / asked to do only what Jeff could not take care of himself. He commands a princely sum but earns every penny.
The sale of my business was smooth, professional and with minimal burden on myself.
I was presented with a buyer that was perfect for the takeover (suited all the criteria I asked) and happened in a timely fashion.
There was also a back-up offer looming behind the main offer, as Jeff knows nothing is done and dusted until it is finalised, and keeps looking for a purchaser right up to conclusion.
I do recommend Jeff Bracegirdle of REMAX to you if you have a business to sell.
Jeff knows his onions, he is astute, professional and accommodation, he will also sit back and knock reality into you, if you have rose coloured glasses regarding the real situation.
My Accountant, Lawyer and Bank Manager have all shaken my hand whilst asking “How did you achieve such a good sale?”
I replied “Jeff Bracegirdle of RE/MAX-Pinnacle Business Brokers.”
Pacific Seals (NZ) LTD
And with such success, the list of testimonials goes on and on!