Take a step back when looking for a business for sale
When examining a franchise business for sale, prospective franchisees will usually weigh up aspects like support, organisational culture, and brand name. Something that might be overlooked in the excitement of moving forward is a brand’s history. Mark Rusbatch, CEO of Mister Minit, talks about what you can learn from a brand’s past, and what it can tell you about the brand’s prospects going forward into the future. Mister Minit was established in 1957 repairing shoe heels in Belgium, and has since expanded abroad internationally as well as diversified its services into areas such as auto key cutting, engraving, smartphone and watch repairs.
When looking for a business for sale, prospective franchisees want to be sure that the business they are buying into is able to grow and evolve in order to stay relevant with consumers into the future. With over 60 years of experience, Mister Minit has demonstrated that it is flexible and adaptable to ever-changing market dynamics, ensuring that our franchisees remain attractive to today’s customer and that they are equipped to provide a high-level of excellence in their customer offer. The level of technical training involved in becoming a franchisee also acts as a differentiator for the business. This ultimately makes Mister Minit an attractive option for prospective franchisees looking for a business for sale.
Prospective franchisees in the market for a business for sale should ask a couple of important questions to ascertain whether a business is the best fit for them. How long has the business been around, and what have their comparable like-for-like sales been in the past decade? Business longevity can be a key indicator of the future success of a brand, as it can provide confidence that the company can develop and grow under different market conditions. One of the biggest advantages that Mister Minit offers is our ability to adapt to the current macro trends of families and individuals outsourcing household and personal services to professionals, a market that is growing and provides franchisees with confidence that they are operating in the right space.
Mister Minit has a proud history that has set it up well for future success in Australia and abroad. Over the last financial year, we have had solid growth right across Australia, with Victoria and Queensland the two states where we performed particularly well in due to beneficial changes in the market and consolidations that worked to our advantage. Nationally there are growth prospects across all of the states, with Western Australia and regional locations providing the most appealing opportunities for further growth. Off the back of our longevity and success throughout Australia, South-East Asia represents huge opportunities for Mister Minit as a potential new market to expand into, as well as for those in the market for a franchise business for sale overseas. Whether you are looking for a business for sale at home or abroad, make sure that the brand you look at demonstrates that it can change and grow along with the market, so that you can be sure that you are buying into success, not just for today, but going into the future.
Mark Rusbatch is the CEO of Mister Minit Australia, New Zealand, and South East Asia.