The Pandemic dramatically changed the way we live and the state of the economy. There are still, however, many people looking to buy a business and some sectors saw an increase in popularity among buyers during this time.
This is great news for any business sellers in these sectors as they are likely to find potential buyers at healthy prices when putting their businesses on the market. As long as sellers follow the necessary steps to prepare and value their business, they can push the deal over the line despite the lock down.
Here we take a look at three of these sectors.
Petrol stations
If you are able to get the basics right, petrol stations can remain profitable throughout economic down turns. They will also continually be good investments for buyers that are looking for the right industry into which to put their money.
These businesses are vital for the movement of goods around the country and, during lockdown, most petrol stations remained open even when they were not able to sell non-essential goods.
Any station needs to adhere to strict COVID-19 guidelines in order to keep operating. Hand sanitizing stations need to be installed. Many businesses will also be encouraging card over cash payments.
If you are going to be selling your business, think about how you are going to put the correct systems in place. You will need to convince buyers that they will be able to hit the ground running once they take over the business.
With fewer motorists on the road during lockdown, many petrol stations experienced a decrease in sales. This might have pushed you to sell your business, however, remember that, if COVID-19 was the reason for the decrease in profits, your business will still be an attractive investment for a business buyer that has the capital to keep running until the opening of the country again. Market this to the buyer and take it into account when valuing your business.
Food businesses
This is a sector that is vital to the economy. There are a lot of buyers that will be keen to invest in a business in a sector that will expand as demand increases.
During lockdown, essential food businesses were able to remain open. This has kept these businesses an attractive option for business buyers. As the country opens, food supply will get back to normal and shelves that may have looked sparse due to panic buying will once again be stocked.
Within the food industry, franchises are a popular option in South Africa and, if you are planning on selling your franchise you are sure to gain attraction. Restaurants have been hard hit by the lockdown and there may be a lot of sellers joining the market, therefore, you will need to make your business stand out by carefully preparing your business for sale.
Health care businesses
The pandemic has seen a rise in demand for health care businesses among buyers. A lot of people in the country have started to make use of private health care which opens the potential for business owners and sellers to make a good profit in the sector.
The health care sector has come under added pressure due to the coronavirus. The government has urged practitioners to move much of their services online or via phone and put systems in place to safely function like social distancing measures. Before selling, make sure at least some of these are in place so that you can remain competitive.
By Anthea Taylor, Content Producer at Dynamis and writes for all titles in the Dynamis stable including BusinessesForSale.com, FranchiseSales.com and PropertySales.com as well as other industry publications.