Industries Worth Considering When Looking at a Business For Sale in Melbourne

Industries Worth Considering When Looking at a Business For Sale in Melbourne

It has been a tumultuous last few years for Victorian businesses, with Melbourne having been officially reported as the “most lockdown city in the world”, Victorians have coped with a tremendous amount of changes in the last 2 covid-affected years.

In spite of this, Victoria still has a thriving economy that is larger than New Zealand and Singapore’s economies and accounts for almost one-quarter of Australia’s total economic activity. Even more enticing, Melbourne was still voted Australia’s most liveable city based on stability, healthcare, culture and environment, education and infrastructure. 

These are just some of the reasons Melbourne is one of the best cities in the world to invest and do business in and why you should want to buy a business for sale in Melbourne. 

Melbourne Industries are Growing

Over the last decade, Melbourne has seen incredible growth, growing faster than any other city in Australia with a population of over five million and no slowing down in sight.

With a Gross Regional Product estimated at approximately $96 billion, if you’re looking to buy a business in Melbourne you might be asking yourself, what industry is right for me? Or what industry should I be investing in? 

These are the major industries in Victoria:

• Tourism, events and visitor economy
• Creative industries
• Digital technologies
• New energy technologies
• Food and fibre
• International Education
• Professional services
• Medical technologies and pharmaceuticals
• Retail and Supply chain and logistics
• Transport, defence and construction technologies

The Victorian Government’s Future Industries Fund is investing in high-growth industries in the state, creating jobs to ensure the growing economy continues to thrive into the future.

We break down a few of the key major industries that you could consider when looking to buy a business. 
 

Manufacturing: New Energy and Medical Technologies
 

The Future Industries Fund has, in particular, seen achievements in the manufacturing sector with Nissan Casting Australia in Dandenong and the acceleration and development of new medicines and pharmaceutical capabilities in Victoria with BioCurate. 

Victoria is a world leader in the research and development of commercial medical technology, biotechnology and pharmaceuticals. 

Medical technologies and pharmaceutical companies include:

The Victorian government has invested over $1.8 billion into the medical technologies and pharmaceuticals industry, which has proved to be a good return on investment. This exciting growth industry employs more than 21,000 skilled people in the sector generating over $12 billion in revenue. 

New energy technologies is another growing industry, and with the Victorian government's commitment to a clean energy future, this industry is expected to continue to grow and is a promising investment sector for buyers looking to buy a business in Melbourne. 

For people with a background in manufacturing that might want to pivot into something more sustainable? Environmentally and economically, new energy technologies are an excellent option. For example, Nissan Casting Australia is manufacturing components for Nissan’s global electric vehicle range out of Dandenong, and the project is expected to deliver $39 million in export revenue across four years.

On a smaller scale, in electrical and civic manufacturing, there are more opportunities and businesses for sale in solar energy solutions every day.
 

 

Tourism and Retail
 

It is no secret that Melbourne is an interesting and attractive city and is the crown jewel of the visitor economy in Victoria, which is worth an incredible $21 billion and generates over 210,000 jobs.  The ‘experience economy’ is the second busiest export in Victoria after international education. 

Tourism has seen incredible revenue growth in 2022-2023, now that travel and tourism are accessible options again. For example, Travel and tour arrangement services have had a 93.7% revenue growth, online travel bookings has had an 84.5% growth, and inbound tour operators in Australia have seen an absolutely whopping growth of 4280%. 

Obviously, if you are looking to buy a business for sale in Melbourne in the tourism sector, this revenue growth will not continue to go up at the rate it is now, as these steep increases are a reflection of covid restrictions having been lifted. Though the benefits of tourism being active and healthy is that this influx of people and economic stimulus overflows onto other businesses in other industries, such as retail, food hospitality, and so many more. 

According to the ABS, retail trade is the highest employing industry in Victoria, employing approximately 377,000 people, which is roughly 12% of the workforce and the retail industry alone in Victoria is worth over $73 billion dollars.

Melbourne is also situated in a strategic position for key supply chain infrastructure, which is why you should buy a business in Melbourne if you are considering a retail or supply chain business for sale.

 

Final Thoughts
 

If you’re looking to buy a business in a specific sector, utilising specialised brokers that have experience in that industry might be the best course of action for you. You can find a business broker on Bsale who are experts in the Melbourne business market and their specialised niche.

Visit our ‘how to choose the best business broker’ guide, which is an integral tool to assist you in finding the right Melbourne Business Broker to suit you!.

Bsale has over 3,500+ businesses for sale in Melbourne, across a wide variety of industries and opportunities such as; automotive, retail, food and hospitality, construction and manufacturing, professional services and many more. If you are a buyer, finding the right business for sale in Melbourne will be the key to your success. 

Tags: melbourne vic hot city small business buying

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