Company: Hospitality Recruitment
Time to sell: 6 months
Offers: 2
Sold: Within 8% of asking price ($78,000 out of $85,000)
Customer
A reputable recruitment agency with over 16 years of operation, boasting a quality database of mid to large scale operations, with representation in Australia, New Zealand, Asia, Pacific and UAE. This successful business undertakes recruitment and executive search in the field of Hospitality. It represents Middle Management, and Executive Management, through to CEO levels, for Hotels, Casinos, Resorts, Apartments and Restaurants.
Background
Responsible for two other businesses, which had come to demand a lot more involvement in daily operations, including national and international travel commitments, the Vendor was no longer able to dedicate 100% to the business. It was a tough decision to step out of the recruitment industry after being actively involved in it for over two decades.
Our approach
The business went on the market after two years of inactivity, a significant challenge for any broker. We engaged a positive attitude, used my problem-solving skills and led a campaign that highlighted the potential of this business and the strength of its database against traditional value parameters such as the most recent trading figures.
Solution
Turnover figures from the years in which the business was trading allowed me to demonstrate its overall capacity. Ultimately, their robust database of HR representatives gave us an opportunity to showcase the immediate results of business activation from a simple mail-out.
Result
Within six months of listing the business we had found the perfect match, a professional involved in the hospitality training and franchising industries. The candidate, based interstate, could efficiently integrate the business within their existing system, resulting in this purchase being the perfect step for her business expansion.
