One business owner’s plan to raffle off her business and adjoining home has spurred “a lot” of others to contemplate a similar approach to selling their business, she has revealed.
Earlier this year, Natalie Giumelli (pictured) told My Business about why she decided to set up a competition for someone to win her family home and adjoining business, Yapper Valley Pet Resort.
Since My Business first reported the story, Ms Giumelli has appeared in other media and on primetime television, as her novel approach captured interest from right around Australia.
“We have had a lot of interest in the business, [but] apart from a few media appearances at the resort, the everyday running of the business has been largely unaffected,” she told My Business on Thursday (16 May).
“A lot of clients are hoping their pups will get their shots at TV stardom. We have had a great response from our clients, with many purchasing images themselves.”
She has even taken on a PR firm to help manage the media interest.
Under the terms of the competition, entrants must purchase an image which acts as their ticket in the raffle. Provided at least 40,000 of the images are sold, the property, the business and $30,000 cash to help with transition costs will be won by one lucky entrant.
Otherwise, the money raised will be split with the winner.
“I am very optimistic about reaching our goal,” Ms Giumelli said.
“We will be announcing sale numbers publicly once we get closer to our goal.”
Approach not so unique
Somewhat surprisingly, Ms Giumelli said that she has heard of other business owners wanting to take similar drastic approaches in a bid to sell in what can be a tough market, as house prices slide and strict lending criteria make business loans difficult to obtain.
“We have had a lot of people enquire about carrying out a competition of their own,” she said.
“We have also had a lot of people sharing stories of others doing a similar thing. It’s great to see so many other people who are embracing this concept.
“I feel like a lot of people are very welcoming of new ideas, which is exciting for the future, as I believe there are often better ways to do things that we haven’t even thought of yet.”
Ms Giumelli admitted that “there has definitely been a few who think it is a scam”, which she said is “to be expected”.
“It’s not your typical prize and is largely unheard of,” she said.
“We are just trying to be as upfront and honest with people as we possibly can.
“These competitions are heavily regulated by the government to ensure that they are not detrimental to the entrants, so we are discussing the facts with people if they are concerned or have questions and hoping the word spreads.”
She added: “I hope that these prizes become a common occurrence and people come around to the idea more and more, as I think it’s a win-win situation for both the business owner and the winner.
“I have had so many messages of support, it’s been amazing. It’s very heartwarming to hear from entrants about their love of animals and how much it will change their lives to win.”
The competition is due to close on 21 June.
Adam Zuchetti is the editor of My Business, and has steered the editorial direction of the publication since the beginning of 2016. Before joining My Business, he worked on fellow Momentum Media titles The Adviser and Mortgage Business.
The two-time Publish Awards finalist has an extensive journalistic career across business, property and finance, including a four-year stint in the UK. Adam has written across both consumer and business titles, including for News Corp Australia and Domain.
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