How One Garden Centre Found A Business Buyer In An Unexpected Location
Garden centres tend to be family run businesses, and as with many family run businesses today it’s seldom the case that the next generation take on the mantle and continue in the family trade.
Without a succession plan this couple found it difficult to sell their business. Even after a couple of years on the market they had not found a suitable buyer – interested parties either lacked the funds or lacked the expertise / business nous. Even an employee ownership idea, which works for some businesses, wasn’t practical in their case. Neither were there trade buyers or competitors who could be interested in the acquisition.
They tried using a business broker who did generate leads but none of which amounted to anything.
So the owners had to find an alternate route. This article tells their story and how they finally found a buyer. It also discusses other succession plans for difficult to sell businesses.
During the search for a buyer, it’s helpful to attract a large quantity of applicants, but the even the largest candidate pool does little good if quality is lacking. Management consultant John Kennedy, a service provider with the Garden Center Group, says that if an owner wishes to sell, there are steps they can take to make sure their business is profitable, desirable and has a dependable staff to make it all work — while communicating those qualities to potentially interested parties.
