Brokers behind the business
Boutique business brokers Tabak Business Sales understands that the decision to put your cherished business on the market is about much more than the numbers on the bottom line.
Partner Damien Fahey says, “Tabak does it differently to other brokerages. We take the time to get to know our clients really well. We can settle them down about their decision if needed, we thoroughly explore the drivers of the desire to sell, and examine all the options.”
Damien says they do come across owners who ultimately just need a really good break, “Once we’ve talked they realise they need a decent holiday, and then they come back to their business with fresh eyes and enthusiasm.”
There is a real sense of social good in Tabak’s approach, which is focused on solving problems and creating opportunities. “It’s a buzz when you see the vendor able to make the move to their next passion or life phase, and the new owner of the business full of excitement and energy about the opportunities ahead,” Damien says. Whilst Tabak has five offices nationwide, the South Island team has three brokers in Christchurch and one in Queenstown, and all have the experience that comes from running businesses themselves, along with qualifications in accounting, sales and business analytics. “There are a fair few grey hairs between us, but clients appreciate knowing they are in experienced hands,” Damien says.
Repeat clients are the norm. “We take a lot of time over every business and understand that generally 60 to 95 percent of the value is in the good will. We defend that business good will, and ensure it is protected and passed on,” Damien says. Integrity is key: Tabak does all its own due diligence and won’t broker a business if they cannot genuinely see the value in it. Damien says the three elements essential for excellent business brokerage are relationships, analysis of the business, plus wordsmithing. “You need to create a compelling document, setting out the information memorandum or company profile saying what it has done, where it is going, and identifying the new opportunities.”
An expert in the local market, Tabak’s niche is sales of businesses valued between $300,000 to $5 million, or generating more than $100,000 in owner profit, and excluding accommodation such as backpackers or motels; plus it is very selective about hospitality. Rather than commercial buildings, it’s about selling plant, stock and intangibles, or goodwill. Nationwide the company shares a database of more than 4,000 potential buyers. “Advertising is often not necessary and protecting confidentiality is a huge part of what we offer,” Damien says. “We love what we do, our business really is more than a job; it’s a calling – and our clients will testify to that.”
