Company: Crust Franchise
Time to sell: 2 weeks
Offers: 1
Sold: We achieved a price that was $13,500 from our asking price!
Customer
Crust Pizza is an Australian franchise brand with over 140 stores nationwide. Initially, this franchise was listed with another broking firm; it had been on the market for over a year.
Background
The Vendor was highly motivated to sell. He had become a fulltime caregiver for his elderly parents and was no longer able to work in the business.
Brief
We were required to sell the business expeditiously.
Our approach
We reached out to the Vendor, having just sold another Crust franchise and notified him that we had buyers looking for others to purchase. He was very interested in discussing this further and subsequently, we listed the business that same day.
Solution
Working with a short timeline, we decided on the scattergun approach of applying all the marketing initiatives we could think of; this included marketing on business for sale websites, EDM campaigns to Crust franchisees and targeted LINK database marketing.
Result
The buyer ended up being an existing Crust franchisee looking to expand their store network. We marketed the business with a competitive price point to attract immediate interest from buyers. If we had been given longer to sell the business, we might have achieved a higher final sale price. In this instance, we listened to our Vendor and acted accordingly.
