[Nick88]

Not sure if this allowed on the forum, but here goes.

My wife and I have finally got the accounts and everything sorted out and are officially putting our business on the market. I feel that it is perfectly suited to an LTBV because there is considerable upside over the next couple of years with the right marketing, plus it is a freehold going concern that is generating revenues straight away. I have put alot of thought into how a new owner could push the business further, and where possible have already started laying the foundations.

The business is www.kentia.co.nz there is a link at the top to another page that deals with the sale in a bit more detail. I still have to add some more pics and description of the house, and I'll do this as soon as I can (in the next week or so).

If anyone has any questions please feel free to send me an email or reply to this thread, and I'll help as much as I can.

[cani]

Beautiful place and looks like a great business, wish I had a green thumb. Good luck to you and your wife.:nice1

[victoria24]

how much are you selling it for?

[andrewp]

how much are you selling it for?

Yip - spill the beans. I may be interested.

[Nick88]

The property is on the market for NZ$890k, lock, stock and barrel. Converting that makes GBP350k, or ZAR5.25m. We are not using an agent, so have not added a premium for this particularly large cost, we are trying to make the place good value for money.

For immigrants we can even come to some arrangement with things like the whiteware, beds and furniture etc. Saves everyone shipping, potentially.

[andrewp]

Thanks Nick88. Unfortunately we're still about 8 months from arriving in NZ, but I have planted the seed in my OH mind;)

[JandM]

Just curiosity, Nick, so don't answer if you don't want to - are you and your wife staying in NZ when you've sold your home and business?

[Nick88]

Blimey, 8 months seems like an age away. I hope we have things moving by then. In fact the price would have to change by then too, I need to do the potting of the seedlings in the next couple of months and when I do all of the stock goes up a step in value, This will add quite a bit to the price of the business. So the price I quoted above won't last for long.

J&M, the honest answer is no. We are off to Aus once we have sold and the new owners are settled. My next growing business needs warmer temperatures and a much, much bigger market if it is to work.

[victoria24]

do you know of any lenders that would finance the purchase of the business? if so, what deposit would be required? in the UK, normally looking for 20% on commercial.

[Nick88]

I really can't answer that from experience, Victoria, we have no borrowings. The business includes a home (which most businesses don't) it makes it quite capital intensive, but does give you physical assets with which to get a mortgage/ home loan. Leaving you to fund the stock and goodwill personally, or with a higher rate business loan (they add a risk premium).

How big a deposit where you thinking of, if you don't mind me asking? PM me if you like, or contact me through the website.