Unable to sell their newsagency, Lance and Barb Barrett decided to close their business, the only newsagency in downtown Coolum.
While not commenting on these specific circumstances, I’d note … The challenges facing newsagents in Australia are not new. All of us need to act on the challenges, as early as possible, putting our needs ahead of the demands of suppliers. The saleability of any newsagency and the price it achieves is a function of its real profitability.
I wish Lance and Barb all the very best for their future retirement.
How much is a newsagency worth if it was actually losing money each week?
Gary not talking about any business in particular, if it’s been losing money for more than six months it has no value.
This is why I have written here many times – make every day your pay day. Relentlessly chase net profit today so you can justify a better price when you sell tomorrow.
Agreed, shocking to read with 6000 customers each week their business remains unprofitable, the rent must be exorbitant.
Doesn’t matter how many customers, all newsagents need to diversify or die. 6000 per week at 50c to $2 is $3000 to $12K. Wages, delivery costs, vehicle, rent etc……all gone…..