Just as it changed personal shopping, the Internet is now giving a facelift to the traditional classifieds. It is also changing the way businesses are sold and it is happening fast. SEEK Commercial launched in January this year and has quickly become the number one site in Australia for buying and selling new and existing businesses. SEEK Commercial has provided entrepreneurs and investors with an integrated platform to search for franchise and business opportunities online.
David Waite, General Manager of SEEK Commercial believes the company is building Australia’s largest online business possibilities market place. “As with many things technological, the United States is leading the way in creating business relationships online. A staggering 92% of all new business relationships are started via the Internet in the United States. Basically, the classified ad in the States is going the way of the valve radio and manual cash register” he said.
SEEK Commercial successfully leverages the company’s existing client base by connecting to the huge number of job seekers on seek.com.au. Every month the equivalent of 25% of the Australian workforce looks for work opportunities on seek.com.au. This equates to 2.4 million people who are seeking to make a change.
Many may at first question the relevancy of cross promoting business sales to these job seekers. However, 42% of seek. com.au visitors expressed an interest in buying a business either now or in the future. By connecting to these people, SEEK Commercial opens up an entirely new market of potential business buyers.
Waite is not surprised at the success of SEEK Commercial, “The site really does create a cost-effective medium for business and franchise sellers to gain national exposure to a targeted audience”. It breaks down geographical barriers giving regional retailers looking to sell-up an inexpensive and efficient means to access city buyers looking to make a ‘sea or tree change’. Online business sales sites reach further afield than Brisbane to Broome and Sydney to Darwin. They also link potential buyers in other countries such as the United Kingdom and Asia.
ARA National Marketing and Membership Director, Richard Vines welcomes the online dimension given to buying and selling businesses, stating that “The site will make the process for both sellers and buyers easier, more time and cost efficient”.
Whether you are a franchisor such as Boost Juice, Bakers Delight or Pizza Hut wanting to meet new franchisees or a business broker looking to maximise the readership of a business sale, online listings open up specific opportunities to more people in more places. Retailers can also use the site to measure the barometer of the retail scene by seeing what businesses are for sale, where, and for how much.
“In addition to presenting specific opportunities, SEEK Commercial leverages the strengths of the Internet by offering downloadable franchise and business broker company profiles and the option for ‘Biz seekers’ to receive regular updates via e-mail of recent business and franchise listings” said Waite.
As with the massive migration of real estate, jobs and cars from classified to online, once you have entered this virtual world to find or sell a business, many say there is no going back. The site is open 24 hours, 7 days a week, accessible from anywhere.
If you would like to list your business for sale on SEEK Commercial, please contact Louise De Vos, SEEK Commercial National Sales Manager (02) 9925 1606.
