We make the business buying process simple – especially if it’s your first time
My name is Rachel Barnes, the founder of Buy Australian Businesses.
Before I can tell you about myself and Buy Australian Businesses though, I’d like to tell you a little bit about how I got to the point I’m at today.
My first venture into the business world was back in the year 2000 when I started investing in property. Then in 2002 I paid an extraordinary amount of money to attend a 5 day training course about property, business and shares.
I quickly learned that I wasn’t interested in shares but that I was sick of my job and that it was absolutely possible for me to own my own business instead. The most important thing I learned though is it doesn’t cost nearly as much as I had thought to get involved with an existing business.
After a joint effort on a real estate business with a friend and business partner to get my footing in the business world, it was time for me to become the owner of my first business.
Using my credit card, I paid $5,000 (plus SAV $2,500) for a hairdressing business, even though I’m not a hairdresser myself! I employed the vendor to run the day-to-day operations for me while I handled things on the back-end like marketing, payroll and accounts.
The business was going well but then I had the offer to partner with others in a national property education business which I loved! That next business kept me busy for several years but eventually I needed a change and decided it was time to sell and invest in another, existing business.
So I started looking around and interviewing several owners about their businesses. In my previous business (and even now) I have conducted a multitude of interviews with property related people, and that experience has definitely paid off. After many interviews with business owners, I got very good at interviewing and was able to get a complete sense of what their entire business process entailed from just a short interview.
It’s amazing how many times the business owner or broker is asking a totally unrealistic prices for a business and you don’t know until you check the figures and ask the right questions. On the other end of the scale I love it when I find a fantastic opportunity for a new owner, and the vendor will just be happy to see their nurtured business go to the ‘right’ buyer. I can’t buy them all … and some are great but just not ‘me’.
So I realized I could help other people by coaching them where necessary, and helping them find, analyse and buy their new business. And I could record interviews with those Vendors who are happy to talk about their business candidly – and understand the benefits of leverage. So much better to be interviewed on record and then provide that to all the interested prospects who enquire … such a time saver!
From that idea, Buy Australian Businesses was born.
For those who are interested in buying and running their own business, but don’t have the experience or the confidence, I offer up to 3 months coaching.
For sellers who understand that financials don’t tell the whole story, and see the benefits of explaining their business and its benefits in more detail ‘on record’, I provide an independent interview for them, edited professionally and provided for their use.
Note that I am NOT a business broker and am not paid commission on any purchase or sale of a business. I am totally independent.