Hello guys I'm looking for a realtor based out of BC that has experience in selling eyewear shops. Please suggest, it seems there aren't many realtors with optical shop selling experience.
Hello guys I'm looking for a realtor based out of BC that has experience in selling eyewear shops. Please suggest, it seems there aren't many realtors with optical shop selling experience.
Hi charan:
I would like to suggest that you post your eyewear shop for sale here on optiboard, as well. There are quite a lot of Canucks that either belong or lurk here.
Also sales reps are as good as real estate agents, and are known to help people find buyers.
I think each real estate firm will have a member that is familiar with commercial real estate in your neighborhood, and/or city. I would inquire, as well with someone that you know of that recently sold a business in your mall, or on your street. They might know the name of a "go to" agent.
Eyes wide open
Are you selling just the business or real estate (land & building) or both? This will influence whether you want to deal with a real estate agent or a business broker.
Charan, I could be wrong but there is probably no such thing as a realtor with a lot of experience selling optical shops, versus just selling businesses in general.
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We're inside mall, u guys r right maybe I need to advertise else where.
Take any means you can get........................
Take any means you can get. There are plenty free sites available. I have turned the thought of starting a page on my website for businesses for sale at no charge. The law of average is still valid, the more you show the better the chances that the righ party might react.
I would suggest that you also post this on the 'Canadian Optical Professionals' group on Facebook. There are quite a few members from around Vancouver that may be able to help.Originally Posted by charan
https://www.facebook.com/groups/canadian.optical.pros/
joined! Thanks Jacqui, but no response since its a closed group.
You can also post to the trade magazines for free.
Is there a price formula in Canada for an optical store?
I don't know of one but I will take a stab at it and say 2 times net earnings plus inventory. Just a guess and I would welcome other opinions.
Sounds fair, but how about 2 times net earnings, plus inventory, minus debt?
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It goes without saying that a purchaser wouldn't want to take on any debt from the previous owner....I agree.
Regards,
Golfnorth
P.S. If anyone else has sold a store feel free to chime in on this one.
Correct, debt normally comes off the agreed price. There are many other factors that contribute to the selling price including length of time in business, location, trending (up, down or flat), and whom initiated the sale. If it is the seller, the price is usually lower. If it is the buyer, they usually have more motivation, drive and in most cases are willing to pay a 'higher fair' price since the acquisition may compliment their other businesses in an existing network.
Charan,
I would be interested in the option of buying the practice. Could you share some more details, please?
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