Renwick Business was founded by the late Jim Renwick, a legend in the business brokering industry. Jim is the reason we are here today, and we honour his legacy! Gary Smith partnered with Jim and purchased the business when Jim passed away in 2015. Gary is an experienced entrepreneur, management consultant, MBA graduate and Doctoral candidate, who operates Renwick as the group Principal and Managing Director.
Renwick Business offers comprehensive business brokerage and real estate solutions through a network of license partners, brokers and agents. As a professional business brokerage and real estate agency Renwick is registered with the Estate Agents Affairs Board (EAAB) and operates in compliance with the Estate Agency Affairs Act and Code of Conduct regulated by the board.
Our Services Include:
• Business Brokering
• Management Consulting
• Commercial and Residential Real Estate
We believe in a culture that promotes collaboration, trust, integrity, and a commitment to Customer Service Excellence that is superior to that offered by our competitors.
• Our VISION is to become SA’s leading business brokerage and real estate agency.
• Our MISSION is to develop a National Footprint with License partners in all provinces throughout SA.
A key aspect of our strategy is our License Partner model through which we enable license partners to operate under the Renwick Business name, using our methodologies, systems, processes, policies, and support structures, in compliance with industry regulations. Renwick Business license partners have the opportunity to work in both the business brokerage and real estate industry thereby maximizing their earning potential.
There are an estimated 2 000 000 businesses registered in South Africa with the Companies and Intellectual Properties Commission (CIPC). Of these registered businesses, approximately 50% are either dormant, not sellable or would choose not to sell through a brokerage, leaving around 1 000 000 businesses that would potentially use a broker to sell. Looking into global business broker statistics, through the International Business Brokers Association (IBBA), their figures (under normal market conditions) suggest that 25% of registered businesses are for sale at any given time. Applying this to our statistics from CIPC, we reach an estimated total market of 250 000 businesses for sale in South Africa. Taking these figures into account and assuming the South African business brokerage industry deals with only 10% of businesses on the market, would suggest a potential of 25 000 businesses for sale in SA of which Renwick Business aims to acquire at least a 1% market share thereby selling 250 businesses a year.
As a Renwick License Partner, you will receive ongoing training and support to setup and operate as a professional business broker and real estate agent.
Initial training covers an introduction to business brokering and real estate, the business broking profession in South Africa, industry regulations, why clients use a professional business broker, how to list a business for sale, how to qualify a buyer, documentation required for the sale of a business, how to value a business, business broker marketing initiatives, prospecting activities, cold calling activities, social media, the Renwick seller system, mandate agreements, the Renwick buyer system, how to buy a business, the Renwick lead tracking and customer engagement system.
Ongoing training includes on the job training, coaching and support from the group principal to ensure that license partners are competent to manage the license area.
License partners receive:
• An exclusive license area and access to above average earnings
• Access to company systems, policies, processes and procedures
• Practical business broker and real estate training
• Estate Agency Affairs Board (EEAB) registration and compliance
• Extensive marketing with national and regional campaigns
• On-going head office lead generation and support
To be a successful license partner, one should ideally be an entrepreneur, having owned and operated their own business and in the process, gained a thorough knowledge of business principles and in particular, the ability to read and accurately interpret balance sheets and income statements to identify and disseminate critical and salient information.
A Renwick Business license partner must have a number of competencies such as, the ability to:
• Advise on the viability of a business.
• Read and interpret financial statements
• Complete due diligence exercises.
• Assist with drafting of cash flows projections.
• Assist with the drafting of business plans.
• Completing business and property valuations.
• Act as an intermediary between buyer and seller.
• Advise and assist with various finance options available.
• Structure a deal which protects both buyer and seller.
A professional Business Broker is a facilitating consultant who plays a very important role in assisting Sellers and Buyers of businesses and property. There are numerous responsibilities, when it comes to helping clients buy and sell a business, from lead generation, marketing, business valuations, negotiations, preparing sales agreements, daily admin and reporting. For this reason, license partners are required to partake in Continuing Professional Development to improve their skills and stay abreast of industry developments.
License partners must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skills, and qualifications required for this position. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. The minimum acceptable level of education, experience and certifications necessary to be able to do the job efficiently include:
• Bachelor’s degree (post graduate degree preferred)
• Business ownership and or management experience
• Financial management and or accounting experience
• Advanced computer and MS Office skills
• Good communication skills
• Ambition, drive and charisma
• Negotiation and selling skills
• Effective time management
• Ability to work well with others
• Self-Motivated and goal orientated
• Strong organisational skills
• Entrepreneurial mindset
• High levels of integrity
• Driver’s license, own transport, computer and cellphone
1st Franchise Opened
No. of Outlets
Average set-up cost
Initial franchise fee
Initial Working Capital
Minimum owners contribution
Management services fee
Initial agreement term
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