Published on 08/10/2021 by Any Business.Com.Au

Decades of Buying and Selling Businesses: The Evolution of Business Broking

In today's fast paced, and somewhat unpredictable world of late, it's rare for anyone to be at the top of their industry for 40+ years.

But that's exactly where Business Broker Lindsay Margetts finds himself at this point in time.

For some, business broking is purely the facilitation of the buying and selling of a businesses between two willing parties, but for Mr Margetts it's been his life.

After beginning as a licensed estate agent and subsequently working for the Melbourne City Council, Mr Margetts noticed that there was not the usual fanfare associated with the sale of businesses that there was with the sale of real estate.

It was at that moment he was drawn to business broking and not only set about a career in the growing industry but went out and bought Sterling Business Agents.

"There seemed to be a lot of activity in this arena without the fanfare," he explained.

"There were businesses being sold left, right and centre without being seen by the general public.

"So after learning a lot about the businesses and the industry itself, I was able to develop a strong client base and a loyal following which in-turn allowed me to forge out a successful career."

Mr Margetts said the evolution of technology had been a game changer in the advertising, marketing, buying and selling of businesses.

"Simple technological advances over the years such as email, laptops and mobile phones have meant that all people involved have become tech savvy - these types of deals can now be done from anywhere.

"The need for large scale commercial offices (for business brokers) has certainly subsided, there is really no need for that kind of infrastructure anymore."

It's no surprise that Mr Margetts has seen a lot over his time in Business Broking not only over his 4 decades but most recently during the unpredictable times we are currently experiencing.

"I guess I've noticed that the purpose for people buying a business has changed a lot," he said.

"Some people are buying for job security, some are tired of working for someone else and others have been retrenched or are needing to obtain citizenship in the country.

"Whatever the reason, people are continuing to buy and sell businesses even in the uncertain environment we have all faced in recent times."

So as a person who has just about seen it all in Business Broking, what advice does Mr Margetts have for those looking to begin a career in this ever-developing realm?

"It's fair to say that no two days are the same. It's imperative that you are generally likeable, broad-minded and have a long term strategy in place to develop a solid client base."

His best tip for those looking to buy a business?

"I often get asked what is the best business to buy and my answer has always been the same: 'A profitable one. There's no use buying one that's going broke," he laughed.

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AnyBusiness.com.au

Curtis is a leading expert in the business-for-sale industry, serving as a senior content creator at anybusiness.com.au.

With a career spanning over fifteen years, Curtis has accumulated extensive knowledge in the domain of business sales, acquisitions, and valuations. His deep understanding of market dynamics and his ability to translate complex industry jargon into accessible insights make him a trusted resource for entrepreneurs and business owners looking to buy or sell businesses.

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