Selling a Cafe in Brisbane
Anyone keen to own a share of Australia's growing hospitality industry would do well to look at Brisbane as an ideal location. For a cafe, especially, it ticks all the boxes, with population and new business growth, and tourism numbers, all on the up.
Brisbane's forward-thinking economic environment is a major drawcard for residents and investors alike, and is well supported by significant infrastructure improvements. Greater Brisbane’s economy has rapidly expanded and, according to Brisbane City Council, is worth $135 billion, representing 47.1% of Queensland’s economic output in 2012-13.
Council's Economic Development Plan predicts the economy will be worth more than $217 billion by 2031, so now's a great time to be buying - or selling - a business in Brisbane.
The Queensland capital is one of Australia's busiest cities, with an estimated population in 2016 of 2.46 million. Throw in the city's wonderful climate, fantastic attractions and growing tourism industry, and it's easy to see why Brisbane cafes are thriving.
Over the next six years infrastructure projects valued at more than $10 billion will be rolled out across the city, with much of the focus on and around the Brisbane River. Anyone selling a cafe in that vicinity should be laughing all the way to the bank!
In a recently published food and drink venue guide edited by Matt Moran, the celebrity chef said the city's food scene had "definitely shifted up a gear and just keeps getting better". And if your cafe was featured in the guide, you'll definitely want to include that in your marketing pack!
Assuming everything about your cafe business is in order - ie financials, maintenance - you should have little problem finding an enthusiastic buyer.
As a truly cosmopolitan city, Brisbane embraces change and new ideas, so a cafe can be anything its owner wants it to be. From the uber chic to the classic tea-room, there is a market for the product, and therefore a buyer for the business.
It's likely that your buyer may already be working in the hospitality industry, and quite possibly in the Brisbane area. But increasingly, the industry is attracting buyers with no previous experience - for example, those with redundancy cash to invest, or pre-retirees looking for a change.
So you must decide how much training and help you are prepared to offer as part of the deal. You should also ascertain which staff members are happy to stay on with the new owners. Knowing they will be walking into a well organised business, with trained staff already in place is a major selling point for a buyer new to the industry.
Another excellent selling point is that the hard work has been done; the cafe is already established and operating with, hopefully, a growing customer base. This represents a huge saving to the buyer, and a much easier transition.
Depending on your asking price, you may have some concerns about the amount you'll be paying in commission. But there is a way around this. It is not a legal requirement to use an agent or a broker. You can market the business yourself - and keep the commission.
If this idea appeals, but you're not sure where to start, it's well worth talking to an organisation such as Coast to Coast Media. Independently owned and operated, and not affiliated with any real estate agency, this Australian business was established to help people sell their businesses, without ever paying commission.
With professional help and advice on marketing, graphic design, writing advertisements and more, this is a great way of finding your buyer and achieving the price you need.