How did you get into Business Broking?
Before entering into Business Broking I worked for ten years in retail with Virgin Group and then hospitality, owning and managing my own cafes in the Sydney CBD. Following the sale of my own small businesses, I was intrigued by the process of selling a business and wanted to learn more about it. So began my new career as a Business Broker. I haven’t looked back since!
In my time as a business broker, I have helped change the future of many businesses and the lives of many people. This is the part I have enjoyed the most – helping people fulfill their business and career goals.
I work across all industry sectors and love the variety this offers. Today, with an inspiring team beside me at ABBA Group, I am proud to be creating wealth for more and more clients every day.
When was ABBA Group formed?
ABBA Group was formed in 2015 when I saw a gap in the market for quality business broking services in the $1m+ market. I believe that businesses in this market require specialised knowledge and skills and so I focused on building a team with these attributes. I am proud of how far ABBA has come in a relatively short amount of time and even more proud that we have built a reputation of being ethical, honest and professional.
What is your role at ABBA Group?
I am the Managing Director of ABBA Group and lead a team of 20 business brokers.
I still enjoy managing deals – as a business broker there is nothing more rewarding that a signed contract and a happy client. These days however, my role also involves overseeing all the other deals which ABBA Business Brokers are working on. I’m here to guide them, give them advice on how to structure deals and ensure that every transaction runs smoothly.
What do you enjoy most about being a business broker?
Definitely meeting people from all walks of life. Today I might be talking to the owner of a multi-million dollar construction company who is looking to acquire a competitor and tomorrow, I might get a call from someone who is planning to sell a childcare business and is looking for a career change. The variety is endless and every client comes with their own unique set of needs, requirements and expectations. I enjoy the challenge of managing and meeting all of those needs.
What does a typical word day look like for you?
My word day commences when I start my morning commute from home to office – making or returning phone calls to clients. An important part of being a business broker is keeping clients informed and up-to-date so I take this opportunity in the morning to communicate with clients and keep deals that I am working on moving along in the right direction.
Once I’m in the office, I spend the first hour or so actioning any emails that require attention.
Following that, I am usually in an out of meetings for most of the day. I meet with clients, both new and existing and also with other ABBA business brokers. In my meetings with ABBA brokers, I offer advice on deals others are working on and help my team of brokers in any way i can, be that giving advice on how to structure a deal, manage a challenging client or source new business. Being a business broker requires a great deal of discipline and no two days are the same in the life of a business broker!
What sort of transactions does ABBA Group manage?
ABBA Business Brokers focus on transactions in the $1m+ market. Our team has sound knowledge across a wide range of industries and an extensive network of contacts to draw from.
We can help clients source a business to purchase or, if they already have one in mind, we can manage the acquisition process to ensure it runs smoothly. ABBA brokers also represent businesses for sale, managing everything from preparing an Information Memorandum to finding the right buyer and securing our clients the best deal possible.
ABBA also manages off-market projects, capital raising, business valuations, property consultation and can assist with business immigration as well.
What advice would you give someone just starting a career as a business broker?
Without a doubt, the hardest part of becoming a business broker in Australia is just starting out and having little or no income. Until that first commission comes in, it can be hard to keep focused and motivated.
This is a time when a new business broker must self-motivate. He or she has to be able to see the bigger picture and visualize their career one, five, 10 years down the track when the rewards will be coming in and they will be a success. I also tell new brokers to be patient and keep chipping away at those first few deals and they will soon be on their way to building a successful career. It is also important to learn the basics. Many brokers fail or walk away from a potentially rewarding career because they become disengaged from the basics. This includes learning how to negotiate, sell and build positive relationships with customers. Finally, and this is something I apply to all areas of my life, I would advise a new broker to act ethically and always be honest and up front in all dealings. This, above everything else, will help them build a positive reputation in the industry which will lead to a rewarding long-term career.
