From baker to business broker: a recipe for success

Boxers & Briefs Podcast #22: Career pivots & advice for buying or selling a business with Helane Mead

When we think about business transformation, we often overlook the human stories behind successful enterprises. Yet these narratives contain the most valuable insights for anyone contemplating their next professional move or considering buying or selling a business.

Helane’s journey from running one of Auckland’s most recognised bakeries to becoming a trusted business broker exemplifies how industry expertise can be reimagined into entirely new ventures. Her story offers a blueprint for entrepreneurs ready to reinvent themselves while leveraging decades of hard-earned business wisdom.

The dawn of Il Forno

Twenty years ago, Helane and her partner faced a familiar entrepreneurial dilemma. Expecting their first child, they wanted to establish a business that would provide financial security without consuming their entire lives. The bakery seemed like the perfect solution – early mornings followed by evenings free for family time.

“We thought a bakery would be a good idea because we could just get up early, do a bit of baking and be home in the evening for the kids,” Helane recalls with characteristic honesty about their initial naivety.

Il Forno on Ponsonby Road began modestly with two or three staff members, serving local customers who appreciated fresh, quality baked goods. However, success in business rarely follows the original blueprint. What started as neighbourhood requests for wholesale supply evolved into something far more ambitious and demanding.

The exponential growth of their wholesale operation meant Il Forno became a 24-hour operation, with baking happening through the night to ensure cafes and restaurants received their orders fresh each morning. By the time Helane decided to sell, the business employed 23 staff members and served over 100 customers.

This change from small local bakery to major wholesale operation illustrates a fundamental business principle: genuine market demand will drive growth beyond your wildest expectations, but only if you’re prepared to evolve with it.

Building a business family

One of the most remarkable aspects of Il Forno’s success was staff retention. In an industry notorious for high turnover, Helane maintained a core group of employees for over a dozen years. This wasn’t accidental – it resulted from deliberate culture creation and genuine relationship building.

“You build relationships with these people, they become your work family. You spend a lot of time with them, and it is a family,” she explains.

However, this approach comes with emotional complexity. The relationships business owners develop with long-term employees exist in a unique space, deeper than typical workplace connections, yet bound by professional hierarchies. Helane learned that regardless of how caring or supportive you might be, maintaining clear boundaries remains essential.

The lesson here extends beyond hospitality. Any business seeking sustainable growth must invest in people while understanding the emotional investment this requires from leadership.

The pivotal moment of recognition

Success in business often arrives quietly, manifesting in unexpected ways. For Helane, the realisation that Il Forno had truly succeeded didn’t come from financial milestones or expansion achievements. Instead, it emerged through observing human connections.

The bakery’s communal tables fostered relationships between strangers who became friends. Regular customers arriving at the same time each day naturally began conversations, leading to lasting friendships and weekly breakfast gatherings. When you witness your business becoming a catalyst for genuine human connection, you’ve created something far more valuable than profit margins.

This perspective shift – from viewing success purely through financial metrics to recognising broader community impact – represents mature business thinking that many entrepreneurs never achieve.

The physical reality of business ownership

After two decades of physical labour, Helane faced an uncomfortable truth that many business owners eventually confront: sustainability isn’t just about market conditions or financial performance. Physical and mental wellbeing matter enormously, particularly in demanding industries.

The decision to sell wasn’t driven by failure or lack of passion. Rather, it represented conscious choice-making about life priorities and recognition that timing matters in business transitions. Selling at the peak of success requires courage – walking away from something you’ve built while it’s thriving goes against entrepreneurial instincts.

The art of business broking

Transitioning from business owner to business broker might seem like a natural progression, but it requires completely different skill sets. Helane’s entry into this field came through her own sales experience, where she met an established broker whose approach and philosophy resonated with her entrepreneurial background.

Business broking combines analytical expertise with deep emotional intelligence. Unlike property transactions, business sales involve dreams, aspirations, and often desperate circumstances. Brokers must navigate complex relationships whilst providing objective advice about financial realities.

The transferable skills from business ownership prove invaluable in this role. Having experienced the emotional rollercoaster of building, running, and eventually selling a business, Helane understands both sides of every transaction. She knows the seller’s attachment to their creation and the buyer’s mixture of excitement and terror.

Strategic insights for business buyers

The buying side of business transactions reveals fascinating patterns in human behaviour and market dynamics. Unlike property markets with clear indicators of buyer versus seller advantage, business purchases depend more on strategic fit than market timing.

Helane’s first principle for buyers challenges popular assumptions: “It’s not about when, it’s more about what. Buy something that you know the industry of or are passionate about or understand.”

This wisdom cuts through romantic notions about business ownership. The mortgage broker dreaming of cafe ownership or the office worker fantasising about restaurant life often underestimate industry-specific knowledge requirements. Success demands understanding operational complexities, supply chains, customer behaviour patterns, and regulatory requirements.

Due diligence becomes exponentially more challenging when buyers lack industry experience. They simply don’t know which questions to ask or what red flags to recognise. Professional guidance from accountants and lawyers becomes crucial, but even experts can’t substitute for industry understanding.

The seller’s preparation journey

Preparing a business for sale requires strategic thinking that extends far beyond financial record-keeping. Helane’s advice for sellers reveals the complexity of creating truly transferable enterprises.

The first challenge involves documentation and systems. Many successful businesses exist primarily in the owner’s head – client relationships, supplier arrangements, operational procedures, and problem-solving approaches. Buyers need confidence that business operations will continue seamlessly after ownership transfer.

This systematic knowledge transfer process can take months or even years to implement properly. Rush sales rarely achieve optimal pricing because buyers perceive higher risk in unprepared businesses.

The second critical element involves owner replaceability. Businesses where success depends entirely on the founder’s personal involvement present significant challenges for buyers. Creating management systems and developing staff capabilities that reduce owner dependency increases business value dramatically.

Financial preparation extends beyond basic bookkeeping. Accounts prepared for business operations differ significantly from accounts prepared for sale. Personal expenses, family costs, and owner benefits need clear separation from core business performance indicators.

The human element in business transitions

What sets exceptional business brokers apart isn’t technical expertise; it’s interest in human stories. Helane’s passion for understanding why people start businesses, how they navigate challenges, and what drives their eventual decisions to sell creates deeper connections with clients.

Many entrepreneurs never planned their specific business journey. Circumstances, opportunities, and practical necessities often matter more than grand strategic visions. This reality makes each business story unique and fascinating.

The emotional aspects of business sales can’t be underestimated. Selling represents the end of a significant life chapter, often involving identity shifts for owners who’ve defined themselves through their enterprises. Skilled brokers provide emotional support alongside technical guidance.

Innovation in traditional industries

Helane’s career transition illustrates how traditional industries can benefit from fresh perspectives. Her hospitality background brings unique insights to business broking, particularly regarding operational challenges and staff management complexities.

The willingness to embrace new challenges after decades in one industry demonstrates entrepreneurial thinking that transcends specific business sectors. This adaptability – combining deep industry knowledge with openness to new applications – creates competitive advantages in any field.

Building sustainable business practices

The contrast between Il Forno’s early simplicity and eventual complexity offers lessons for any growing business. Success often demands sacrificing original lifestyle goals for growth opportunities, but this doesn’t happen automatically or without conscious choice.

Understanding when to say no to opportunities, how to maintain work-life balance during expansion phases, and recognising optimal exit timing requires strategic thinking that many entrepreneurs develop only through experience.

The future of business ownership

Current economic uncertainty creates interesting dynamics in business acquisition markets. Traditional employment feels less secure, driving interest in business ownership as an alternative path. Side hustles and part-time business ownership become viable strategies for building future security.

This shift toward entrepreneurial thinking, combined with changing work patterns, suggests business broking will become increasingly important in helping people navigate ownership transitions.

Helane’s story demonstrates that successful entrepreneurship isn’t just about brilliant ideas or perfect timing – it’s about adaptability, relationship building, and strategic thinking applied consistently over time. Whether baking bread or facilitating business sales, the fundamental principles of understanding people, delivering value, and maintaining professional integrity remain constant.

For anyone contemplating business ownership, acquisition, or career transition, her journey provides both inspiration and practical guidance. Success comes not from avoiding challenges but from developing the skills and relationships necessary to navigate them effectively.

If you’d like to talk with Helane, you can contact her through NZ Business Brokers.

This article and podcast is proudly brought to you by Gilligan Sheppard, the problem solvers in business who believe in thinking differently.n thinking differently.