By Laura Keil
Community Futures is hosting a workshop in McBride and Valemount to help business owners looking to sell their business. The workshop covers how to get involved in the Great BC Business Sale, a huge trade show happening at the Vancouver Convention Centre Oct. 3rd 2020.
The trade show will give entrepreneurs an opportunity to buy and sell businesses located in non-metropolitan BC. It’s part of a two year long initiative developed by Community Futures.
It is not your classic trade show. Business owners do not necessarily have to attend in person, and other attendees – such as Community Futures Fraser Fort George or a northern chamber of commerce – can help draw potential investors to your business.
Community Futures Fraser-Fort George General Manager Susan Stearns says it’s not always the kids that take over the family business anymore. And many baby boomers will be looking to sell in the next few years.
“It’s a buyer’s market,” she said.
Getting your business ready to sell can help position it to get a better deal, she says. That means getting your business valuated, for instance. Business owners who take part in the Oct. 3rd event will have access to a business valuator for a reduced price. The cheapest option at the event is $500 and that includes a business valuation and a storyboard (different from a booth, but still visible to attendees).
“It’s a great opportunity to reach a larger market, instead of trying to sell in a small local market,” Stearns said.
Communities like Valemount or McBride can have storyboards or booths as well to market themselves as a place to invest in general, as can realtors and brokers. One benefit to showcasing rural businesses in Vancouver is there will be investors from around the world, Stearns notes. The business will also be included in both print and online listings.
“I hope that those looking at selling come out and learn more about it. And if they can’t make the show they’ll reach out to our office because it’s going to be one of the least expensive ways to promote your business for sale that will come along, there’s not a doubt about it.”
Stearns says Community Futures Fraser Fort George has other resources for succession planning as well, including a toolkit, which is available to business owners anytime.
The McBride workshop is at the Robson Valley Community Hall Tues. March 10th 11:30-1pm.
The Valemount workshop is at Scooters Pizza Wed. March 11th from 11:30-1pm.
Visit www.cfdc.bc.ca/calendar to RSVP for the workshop. For more information on the Great BC Business Sale, visit https://bcbusinesssale.ca/