EMBARGOED FOR MEDIA RELEASE WEDNESDAY 7th SEPTEMBER 2011
Bstar announce a strategic partnership with Tabak Business Sales - creating a standardised benchmark for Business
Valuations
5 September 2011 Auckland, New Zealand –
Bstar, announced today that they have formed a strategic partnership with Tabak Business Sales - one of New Zealand’s
most respected business brokering firms
Bstar who invented a scientific formula to calculate the profit multiple when valuing SME businesses in 2005, have
recently launched their Knowledge Bank which enables users to benchmark a business’ current valuation against others in
the same industry – what they were valued at - and what others sold for. Tabak’s experience and quality New Zealand
market data are key to meaningful comparative reports being available to business owners deciding whether to sell their
business and confirming what they can realistically expect to sell for.
Tabak specialise in connecting quality businesses with serious buyers throughout New Zealand. Their experienced team can
boast a sales success rate over 80%, making them one of the most professional and successful business broker firms in
the country. When Tabak partner Alex Smith saw Bstar’s Valuation Tool and Knowledge Bank comparative reporting, he
realised that partnering up with their complimentary expertise, knowledge and professionalism would take Business
Valuations in New Zealand to a new level.
It is estimated only 25% of businesses that are put on the market actually sell. Why so low? Alex believes a major
factor is that there are a plethora of people doing business valuations in New Zealand and many have no scientific basis
to them whatsoever. “They are simply setting business owners up for major disappointment” he says “You’d be surprised at
how many people come to us with a valuation figure written on the back of an envelope!”
Unfortunately, once a business has been on the market for a time and not sold, the value of that business can drop
dramatically. So those who set the sale price high just to get a “listing” are actually doing New Zealand business
owners a huge injustice. “Our partnership with Bstar will strengthen our existing service of helping business owners
make the right decision” Alex says “Tabak and Bstar’s joint valuations will tell New Zealand business owners what they
need to hear. We’re creating a standardised benchmark for business valuations in New Zealand.”
Bstar’s NZ Executive Manager Nikki Kent, met with a number of Business Valuation specialists and Brokers before entering
into an exclusive partnership with Tabak. Nikki was highly impressed by the Tabak team.
“Tabak’s professional approach means that the data they are providing our Knowledge Bank is credible and quality is
paramount for Bstar’s advisors. Bstar opened their New Zealand office in April 2010 and are themselves dedicated to
quality when it comes to selecting New Zealand Bstar Advisors. “Our partnership with Tabak puts Bstar advisors ahead of
the rest” Nikki says “they are able to eliminate the guess work and advise their business owner clients on the REAL
value of their business and the impact their strategic advice will have on the future value of the business. This is the
missing piece of the business advisory puzzle”.
Most business owners in New Zealand will be relying on the sale of their business to fund all if not part of their
retirement – The strategic partnership between Tabak and Bstar will provide clarity to them – no false hopes that are
dashed when it’s too late to do anything about it.
ends