PLANNING ON BUYING A BUSINESS?
To all our prospective business purchasers:
We may just have the right business for you.
Strong communication skills, comprehensive industry knowledge and an extensive data base means that GE Real Estate & Business Agents can offer you a superior level of service keeping you well informed on the market place and trend.
Take advantage of our extensive industry experience as we have the variety and the range of businesses to suit your needs. Furthermore, we can make the experience of purchasing a business as easy as ABC without the stress and heartache, as we will guide you through the entire process!
We can also refer you to specialised Commercial Leasing Solicitor and Conveyancer without having to pay big bucks!
To find out how GE Real Estate & Business Agents specialist Business Brokers and Agents achieve better results and continued satisfaction, call our office on 02 9554 8064.
There is nothing more reassuring than a proven reputation of achieving results.
GE Real Estate & Business Agents is here to help YOU find just the right one. Simply call us on 02 9554 8064 and take advantage of our knowledge and skilled staff, as they offer best service and assistance to their clients. With the right advice and the right business for you, the rewards are unlimited.
We as the agents know the business as well as the owners, that’s our job. We believe in not only closing a sale but following through to the end. A good broker should be there to help you with the process of the sale. Too many owners who try to sell themselves end up in conflict with their buyers.
What you need to know before you buy a business.
WHERE WILL YOU START? WHAT DO YOU LOOK FOR? WHAT BUSINESS WILL YOU BUY? CAN YOU GET FINANCE? WHO DO YOU GO TO FOR THE RIGHT ADVICE? ‘It is important you read and understand the following’.
1. WHY ARE YOU BUYING A BUSINESS
It is a commitment of finance, energy and time. You need to be clear on the reason, why you want to buy a business. Is it lifestyle, buying yourself a job or do you want to use your skills to create wealth for yourself and your family?
2. SKILLS
a) Do you have qualifications?
b) Do you have references?
You need to have the business skills in the areas of planning, budgeting, marketing and supervising of staff and the business.
3. FUNDS
You need to have enough funds available to cover:
a) The purchase price required to purchase the business.
b) The ingoing costs including stamp duty, settlement costs and lease transfer costs.
c) Work capital
4. WHAT IS BEING VALUED AND SOLD?
In most business sales, only the assets are valued and sold. Assets include plant & equipment, stock, work-in-progress, trading name, goodwill and intellectual property. Debtors are not included. These are retained by the vendor who also pays out the creditors at settlement. It is rare for the corporate structure of private companies to be sold due to the possibility of unknown liabilities associated with the company.
5. HOMEWORK
Study the information, check that the figures make sense, check the method of valuation and seek advice from your accountant and/or legally. After investigating and seeking advice, make up your own mind. If you rely on others to make your business decisions, then maybe you should not be in business.
6. FOUND THE BUSINESS
Be prepared to move when you find the right business. Put an offer in without delay. A written offer is always taken more seriously. We have often seen a vendor reject a verbal offer, only to accept the same offer when put in writing from another purchaser. A written offer on the table, together with a deposit, tells the vendor you are serious. You the buyer then carry out a complete examination of the business with your accountant to attend the business, observe its operation. If at the end of this examination, which usually takes 10-14 days, you are not satisfied, you can walk away and get your deposit back. Deposits are always refundable prior to exchange.
‘All our listings are subject to our disclaimer’.
DISCLAIMER: The information contained in this Business Profile is intended as a guide only and is based upon information supplied to GE Real Estate and Business Brokers. No warranty is given or may be implied as to the accuracy or otherwise of this profile. Prospective purchasers are urged to seek independent legal, financial and taxation advice and to check all information supplied. If you would like more information on this business, please contact us on 02 9554 8064. Prior to any details are given you will be required to sign a Confidentiality Agreement. The agreement can be obtained by contacting our office or by email to admin@gebiz.com.au
NOTE: It is advisable to seek legal advice