It’s never easy to say ‘Goodbye’ to something you have created, built on your own, and put your heart and soul into. Bianca Kristallis, founder of Pamper Hamper gifts, felt ready and content when she decided to sell her business. Her little baby had blossomed into Australia’s No1 Luxury Hamper company so she felt it was time for her next challenge. Pamper Hamper was founded in 2004, Why did you start your business? I made the decision to turn my passion into profit. I was tired of stale, uninventive and one-dimensional gifting options, in 2004 I was on a mission to breathe fresh life into the gifting industry one immaculately tied ribbon at a time and capitalise on a gap in the market for premium gift hampers. I had noticed the lack of luxurious hampers on the Internet and was mortified by the dated and boring options available. I wanted to get away from cane baskets and curling bows and bring the ‘wow factor’ and style back into gift giving. I woke up one day and thought – ‘Right, I’m going to do this!. This is how Pamper Hamper Gifts was born. Pamper Hamper Gifts is an award winning Australian Business, it’s brand has gathered thousands of followers and loyal customers across Australia. When did you realise it is time to leave your ‘baby’ and go on? (Why?...Reason of selling) I started Pamper Hamper Gifts with the intention to one day build it up and sell it. I never put a time limit on when, how, where or to whom. I focused on building a business that could grow and one day be sellable. A mentor once told me a true entrepreneur moves on and sells their business when business is going great and strong. I made it my mission to listen to my accountant, forecast, budget, set yearly business goals and focus on beating year on year. I knew that I needed to perfect my systems and procedures and make sure my operations manual was outlined in detail. By year 10 the business was running by itself and I was more on the business than in the business. I happily watched the figures grow and by year 13 I was ready for something new and fresh and decided, it’s now time to do that next thing. Have you tried to find a new owner by yourself? If so, what were the obstacles? To be honest I tried very casually to find a buyer and knew by the first phone call that it was way too hard and that I’m not a business broker – who was I kidding?. I started to read a few forums online where people admitted if you are going to sell your business you need a professional who knows what they are doing. I put a list together of brokers I was going to reach out to, until one evening I had a private LinkedIn message from a broker at Ray White Business Sales. I liked how he sounded so I made an appointment to have a chat. Why did you choose Ray White Business Sales to help you sell the company? Once I had my first meeting with Ray White Business Sales I really didn’t bother contacting any other broker. I was very impressed with his knowledge and care and I had complete faith and trust he was going to make this an easy sale. Our meeting was an hour and in that time he commended me for having my bookkeeping up to date, forecasts and P & L’s in place as well as my operations manual. Being an organised business owner pays off when you are selling as it’s less frustrating for the broker who needs to gather loads of information to present to prospective buyers. It was obviously important for you to find someone who would generally be interested in the gifts industry. Has Ray White Business Sales Team met your expectations in finding this person? Ray White Business Sales knew I was not going to sell to anyone who I felt would not be able to continue the growth and success of my brand. Together we formed our idea of the perfect buyer and in little time my broker succeeded, well and above my expectations. He found a group that I know will take the business to the next level and maintain the beautiful brand. What was special in Ray White Business Sales service? How often did brokers communicate with you? My Broker, Paul went out of his way to understand every facet of my business and learn it to a point where it became his own. He saw the passion I had for my creation so he was able to relay this to the prospective buyer. He loved the brand and I suppose this made it easy for him to get excited about representing it in the market place. Every successful business entrepreneur has his own life motto, it is interesting to know what is yours? “There is no elevator to success. You have to take the stairs” - unknown Bianca, what would you advise to a person who is planning to buy a business or set up his own? 1. If you are passionate about something make it happen, don’t be scared, don’t make it hard on yourself. The risk will pay off! 2. Surround yourself with positive like-minded people & help others. Share ideas and learn from others mistakes. Write notes after every business discussion. You have to give a little to get a little. You don’t need to give away your secrets however you can share you experience and develop business friendships, they are important. 3. Be a “doer” – don’t sit on a fantastic idea! Start writing, thinking and creating your inspiration board. Seek advice if you need it. 4. Being authentic & different in business: have a point of difference and keep being persistent with that idea or business model. 5. Always research your business idea before you begin. Are there other major players you will be up against, who are you targeting? Is your idea unique? Will you make money? 6. If you do go online don’t be scared of spending money on google adwords! You really can’t be tight here.
Bianca Kristallis - Sydney
Paul Smith, from Ray White Business Sales, is a hard-working, professional and successful agent. We found working with Paul easy as he was not only professional in business dealings but was open in his communication style and always happy to answer any questions we may have. We had listed our business with a previous agent for 6 months and Paul sold it in 7days as he was able to quickly identify and introduce the right buyer for our business. We couldn't recommended a better business agent and have already recommended him to our friends!
Nick Porter - Sydney
Dear Paul, I would like to take this opportunity to thank you and the Ray White business team for the fabulous work you did in finding a business for my business partner and I. We have been looking for a café/restaurant business for almost twelve months now. We were in no hurry to purchase as we wanted to find just the right business for us. We specifically instructed you not to contact us unless you had an exciting business. Well, you more than honoured our instructions to you. Less than 24 hours ago you contacted us to inform us about a fabulous café/restaurant in the eastern suburbs. We met this morning and the deal is now sealed with deposits paid and accepted by the vendor. The business surpasses our wildest dreams. We are now the proud new owners of a fabulous café/restaurant. I couldn’t recommend you and the Ray White Business Sales team highly enough.
Buyer - Name Witheld - Sydney