While more Australians are looking to work for themselves post-pandemic, many lucrative business opportunities are going unrealised by business buyers– ironically because of their best attribute.

• Less competition, market dominance, and emerging industries give “quirky” businesses a significant competitive edge.
• Many business buyers are overlooking this growth potential by fixating solely on traditional business types.
• Profitability, and customer demand is key to determining a business’s value – regardless of what it sells.

The easing of pandemic restrictions and border closures has seen a surge in the number of Australians seeking to become self-employed. However, leading business sales marketplace AnyBusiness.com.au is urging buyers not to overlook the commercial benefits of owning and operating a more unique business with a highly specialised product or service.

While cafés and retail stores are among the most commonly traded businesses, those that operate within a particular niche or have a distinctive “quirk factor” often have greater growth potential and fewer – if indeed any – local competitors, making them potentially lucrative investments, explains Mary Tamvakologos, Director of Operations, AnyBusiness.

“People are always looking for a profitable business with an edge or a point of difference. Most of these businesses offer both! They are unusual because they typically offer uncommon services or products. Their uniqueness sets them apart from anything else in the market,” says Mrs Tamvakologos.

“However, buyers often overlook them simply because they fall outside of the standard business categories such as a café, motel, restaurant, or car wash – the businesses we all know and recognise.”
Mrs Tamvakalogos adds that purchasing an innovative business with a novel offering can also be an opportunity to buy into a newly emerging market.

“At AnyBusiness, we have repeatedly seen businesses listed for sale before they have shown their full potential. For instance, bubble tea businesses are immensely popular now, whereas just 3 years ago, they would have been considered unusual. The same for capsule hotels. And food trucks have exploded in popularity over the past two years on the back of the pandemic.”
Another unique business to have grown strongly on the exclusivity of its products, combined with renewed interest in Australian-made goods, is Cedar Bath Company, which manufactures custom-made cedar baths, spas, and accessories from its Perth-based premises.

Owner Phillip Jenkins launched the business 3 years ago having constructed a cedar bath for his own home, which attracted strong interest when circumstances changed and he was reluctantly forced to sell it.

“There are very few manufacturers in Australia selling cedar baths – typically most that are available are poorer quality ones imported from overseas. Therefore, I obviously had something unique to offer and people loved it!” Mr Jenkins says.

“Being made locally means we can also customise each one – people sometimes have unusual requests and l like to make that extra effort to meet their needs.”

Mr Jenkins, a serial entrepreneur, is now seeking a new owner for the business to oversee its continued growth into the future. And he is more than willing to help its new owners achieve this vision long after a sale takes place – hands-on support which is often lacking in more transactional business sales.

“I am the third generation of business owners in my family and am looking for someone who will carry forward this legacy. I will always be there to help this unique business flourish and reach new horizons,” Mr Jenkins says.

“It’s not just a sale to make a sale: I will still be nearby and available to help the new owner continue it on and leverage the specialised skillsets of our dedicated employees.”
AnyBusiness’s Mary Tamvakologos says that when purchasing a business, its uniqueness is just one aspect over which due diligence is required.

“Regardless of the type of business, valuing a business normally involves a number of factors – not only uniqueness but also profitability, operational requirements and customer demand,” she says.

“A buyer needs to know that there is a demand for its particular product or service to ensure it is profitable into the future – no matter what it sells.”