Originally focussed on plants, pots, and compost, modern garden
As a garden
In an increasingly corporate market segment, the time might just be right to reap the fruits of your hard
Here's our guide on how to make the most of the opportunity!
Is growth good or bad when selling?
Take a good look at your garden
A steep growth can be great - but it can also ring alarm bells for potential buyers.
For example, have you had several discount events – offering free compost with every plant purchase or low prices on lawn mowers in the winter - which have made your profits creep up in the last year?
Keep events seasonal and regularly spread out across the year to avoid suspicion.
On the other hand, stable performance with minimal profit fluctuation will show potential buyers the venture is solid and, thus, desirable.
If your numbers are not looking so positive, you can either take some time to turn the business around before selling it or simply accept the loss and sell it immediately for less.
Preparation and saying goodbye
Preparation must begin from the moment the idea creeps into your mind. Therefore during this preparation, always make sure your business documentation is complete and neatly organised - that means all permits, building and/or land documents, bills, tax returns, and any other paperwork that will be relevant to the new owner.
If you ran a tight ship, that should not be a problem, but do not underestimate the bureaucratic side of things.
Another thing to consider is the human factor. A modern garden centre is tied up with numerous other ventures, from suppliers of gardening tools and plants all the way to the local bakery that delivers the donuts and bagels for the obligatory coffee and cake corner.
Signal to them that you are putting the business up for sale and, if you are satisfied with the business relationship you have had, assure them you will recommend their services to the new owner.
If you believe that your food offering is a unique and substantial asset to the business, then it is always worth discussing the possibility of speaking to the business about their contract being rolled over to the new proprietor.
The other human resource you want to engage includes your loyal customers, the people who helped you build your business up.
Reach out to them to let them know of the change, thank them for their business, and make them feel appreciated. This step will also help you detach from the business and step out on a positive emotional note.
How much is your garden
Aside from timing and most recent performance numbers, determining the sales price of your garden
One thing to be determined is the popularity and proximity of the competition: Is one of the big chains closing in on you, or are you in a relatively unencumbered market position?
Are there risks looming on the horizon?
other business sectors when selling.
Your reputation and local standing can be major assets in price formation.
Finding the right person
Finally, do not underestimate the importance of finding the right buyer to continue hoisting your flag.
Take your time to look for someone with similar dedication, sensibility, and heart, to whom you will hand over the keys confidently.