Nick Lucas is a Business Sales Specialist at Bayleys, Dunedin.
To Nick helping business owners prepare for sale, and working with new buyers is the culmination of his experience working closely with businesses and being in business most of his professional life.
In 2014 Nick sold his business by himself. From picking up the phone, it took him two days to sell it after “thinking about it” and knowing he should have sold for the preceding 12 months. It took him another six months to sort out aspects of the sale nobody told him about beforehand. His experience led him to business broking.
“I realised that the process is demanding on the owner and is fraught with pitfalls. It is little wonder so many people put it off and loose value in their business in the meantime. In the thick of it, it is hard as an owner to be objective and harder still to maintain your much needed focus on the business. Getting it right from beginning to end, including having the energy and guidance to confidently negotiate with a buyer is the major difference between a great result or not. I realised I was lucky, had I not sold to the one buyer I had, I had no plan B. I’m still unsure if I received full value for the business. I knew there had to be a better way to do this.”
Before being an owner Nick spent ten years working in Economic Development helping businesses. He had various tasks including business liaison, advocacy, business analysis, planning and developing and implementing strategies and projects. Great skills to have when preparing a business for sale.
“After my first year or so of broking, I joined Bayleys having been somewhat dissatisfied by the hit and miss nature of how selling businesses occurred. Bayleys was a revelation: I joined determined to develop a more professional service that delivers more clarity and certainty to my clients. Bayleys has the environment that enables good operators to be great. Every sale is different. Owners deserve to be - (delete) have sales strategies tailored to meet their needs to give them every chance of success. Bayleys is the ideal place, they have the reach and the clout, the in-house experience and the flexibility to deliver.”
It works! Nick knows his market, his business appraisals and advice are on the money. Almost every business listed has attracted offers with over 80% sold, the majority within three months. Nick can demonstrate a record of business sales where his advice has led to multiple offers and where his negotiation has made the deal.
Nick Lucas continues to innovate, striving to deliver and implement the most thorough and deliberate sales strategies for his clients with a focus on achieving the best outcomes.