Sell your business without massive fees, commissions or hidden costs

Sell your business without massive fees, commissions or hidden costs

Trenton Williams

/Trenton Williams

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So far Trenton Williams has created 10 blog entries.
Fast Settlements Briar Kirkby Tel: (08) 9316 2780 E-mail: briar@fastsettlements.net West End Settlements Erica Settineri Tel: (08) 9443 3044 E-mail:erica@westendsettlements.com.au Greenstone Legal Jade Lattimore Director Tel: 0438 303 763 Web: greenstonelegal.com.au All Property Conveyancing Heather Norfolk Tel: (08) 9460 5010 E-mail: heather.norfolk@allproperty.com.au
Liberty Brett Foster Tel.: 0438 775 570 Email: bfoster@libertynetwork.com.au  Able Finance Jon Elliott Tel: 9328 3600 E-mail: jon@ablefinance.com.au Southshore Finance Mr. Steve Greenwood or Michael Coombes Tel: (08) 9474 1999 E-mail: steve@southshorefinance.com.au Crediflex Finance Adam Barbuzza Tel: 0439990946 E-mail: adambarbuzza@crediflex.com Capita Finance Stephen Geel- Finance Professional Tel: 0437 855 094 E-mail: sgeel@capitafinance.com.au Works with traditional and non-traditional lenders such as Liberty finance. 
Marpik Accountants Pty Ltd Mat Honner E-mail: mat@marpik.com.au Tel: (08) 9447 1003
Nick Hancock M: 0450 144 139 E-mail: nick@nickhancock.com.au www.nickhancock.com.au Taral – Business Plans Tax Accountant UNIVERSAL TAXATION SERVICES Tel: 08 9258 8137 Mob: 0433 930 744 www.universaltaxation.com.au
Rayford Migration Services http://www.rayfordmigration.com Pauline Yong Email: enquiry@rayfordmigration.com Rayford Migration Services : MALAYSIA OFFICE
Contact detail: Contact
 
Company detail :
 
Service provided :
 
188 and 132 information :
 
Rayford Migration Services : SINGAPORE OFFICE
Contact detail: Contact
Phil McGuire ANZIIF (Assoc) CIP Director Unit 12-64,First Ave Mount Lawley WA 6050 PO Box 429, Mount Lawley WA 6929 Tel: (08) 6424 8566 Fax: (08) 9371 5664 M:0448 357392 E-mail: phil@excelinsurance.com.au Web: LinkedIn
Panther Corp Kristy Hubbard Tel: 9388 0551 E-mail: kristy@panthercorp.com.au Easy Companies easycompanies.com.au
Stamp Duty-WA Department of State Revenue http://www.finance.wa.gov.au/cms/content.aspx?id=2055   Small Business Development Corporation http://www.smallbusiness.wa.gov.au/ Lots of useful information and assistance for small business Chamber of Commerce WA http://www.cciwa.com/ Police and CV Checks www.CVcheck.com The Western Australia Police for National Police Certificate https://www.police.wa.gov.au/Police%20Direct/National%20Police%20Certificates   Working with Children Check https://workingwithchildren.wa.gov.au/
Australian Children Education & Care Quality Authority (ACECQA) http://www.acecqa.gov.au/regulatory-authorities1/contact-your-regulatory-authority WA Department of Community Services Childcare https://www.acecqa.gov.au/sites/default/files/2017-12/PA09_TransferofProviderDeclaration.pdf (PA09 Transferring provider declaration (service approval)) Tel: 62103333    Education and Care Regulatory Unit (ECRU) https://www.dlgc.wa.gov.au/LegislationCompliance/Pages/Education-and-Care.aspx ECRU Introduction to Applications https://www.dlgc.wa.gov.au/LegislationCompliance/Pages/Education-and-Care.aspx Provider Application (PA01) including Police Clearance Provider https://www.acecqa.gov.au/sites/default/files/2018-07/PA01_ApplicationForProviderApproval.pdf Approval Declaration of Fitness and  Property (PA02) https://www.acecqa.gov.au/sites/default/files/2018-09/PA02_DeclarationOfFitnessAndPropriety.pdf PRODA – Childcare funding application for Childcare providers https://proda.humanservices.gov.au/pia/pages/public/registration/account/createAccount.jsf Childcare Subsidies for Childcare Business owners https://www.education.gov.au/child-care-subsidy-system
Chifley Advisory Nazar Alexander Bazzi Tel : (02) 8075 1045 E-mail: nbazzi@chifleyadvisory.com.au Website: www.chilfeyadvisory.com.au

Step One – Entity Purchase in

The first step in purchasing a childcare business is deciding on the entity you wish to purchase the business in. That could be a Company or a Company & Trust. A company can be organised via ASIC or via your accountant.  A company and Trust will require an accountant or a lawyer to establish.

If the Company has 3 Directors all three Directors will be required to go through the interview process. Therefore, if there is a person in the Company who is childcare trained or has Education experience it is best to only have them as a Director. They will then be the only person required to go through the interview process and will have a better chance of being successful.

Step Two – Apply for a Provider number

To be able to own and operate a childcare business you must hold a Provider number.

This Provider number is applied for via the Department of Communities – Childcare section in the State you live in or the State you are buying the Childcare business in.

The Provider number is attached to the entity e.g. Company – Company/Trust you have set up that will ultimately own the Childcare business.

The application – PA01 https://www.acecqa.gov.au/sites/default/files/2019-06/PA01_ApplicationForProviderApproval_0.pdf

must be completed online and will require you to have:
  • Police Clearance certificate, not more than 90 days old
  • Working with Children card

The current price is $227 at Sep 2019

The Provider number once obtained does not last forever, unless you continue to own childcare business. If you have not purchased/own a centre within a period of approximately two years from time of issuance the Department may cancel the number.

The application will require credit checks into the Company history and ALL the Directors of the Company.

Interview

All Directors of the Company will be required to attend an interview.  Shareholders are not usually required to attend interview.

The interview is usually two to three hours and is a panel interview of usually three to four personnel. To pass the interview, a thorough understanding of Childcare legislation, policy and procedures will be required. If you are purchasing a centre through Advance Business Brokers, we can assist with this process and provide detailed information on the questions and documents you will need to be proficient in.

The interview is usually conducted about 6 – 8 weeks after lodgement of the application.    If you have been successful, an indication is often provided on the day. Notice of approval or decline is provided in writing around 7 – 10 days after the interview.  Nationally around 70% of applicants fail.

Receipt of Provider Number

Once you have received your Provider number, you can then look for a childcare business and advise the broker/buyer you are already in possession of your Provider number which puts you in a stronger position to purchase.

Or, if you have already signed a contract to Purchase a centre and Provider number is a condition of contract you can move onto lodging the other applications.

Transfer of Service

Transfer of Service can only be lodged with a Provider number. https://www.acecqa.gov.au/resources/applications

Transfer of Service takes 42 days from date of lodgement.

To lodge your Transfer of Service you may be required to provide with your application a letter from the landlord confirming the landlord has approved you as a new incoming tenant OR:  contract confirming you are purchasing the property as well as the business.

These documents are to confirm you have the right to operate the Childcare business in the property it is located.

Two forms need to be completed for Transfer of Service.  PA09 and SA04.

The PA09 Is completed by the current owner/Seller of the business and forwarded to the Buyer.  The Buyer completes the SA04 and attaches the PA09 with the SA04 application.

The Department of Communities/Childcare may choose to inspect the centre. This does not happen every time.  If they do undertake an inspection, a list of items will be issued to the Seller to complete.   All of those items should be completed prior to settlement.

CCS – Child Care Subsidy from the Department of Education –   Application  https://www.education.gov.au/applying-child-care-subsidy-ccs-approval

If the buyer, has a contract in place to purchase a business, and have just applied for and received their Provide number, then as soon as their Provider number is issued, they should also lodge their application for CCS funding.    This application can also take 42 days.

Usually, application to CCS and for Service Approval are lodged at the same time on different websites.

CCS application now requires a business plan and financial information on the applicant.

If is recommended this application form be downloaded at the same time as the Provider Application if you are a new childcare purchaser, so the applicant can work through and prepare all the information required in advance.  Then you are able to lodge the business plan, accounting information and other documents will all be completed and ready to be attached.

Settlement

Settlement on a childcare business usually occurs on a Friday (due to Government funding going Monday to Friday) approximately one to two weeks after Transfer of Service is unconditional.  
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What does the Federal Budget Offer Small Businesses?

The federal budget is finally here and small business is clearly one of the winners, as Small Business Minister Bruce Billson previously predicted . The Abbott government has abandoned many of last year’s cuts [...]

2017-12-19T11:40:25+00:00
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Why Should I Buy a Business in 2017?

It’s that time of year for sober resolutions like shedding some pounds, quitting smoking and buying a gym membership with the sincere belief that you’ll get your money’s worth. Returning to the drab reality [...]

2017-12-19T11:23:09+00:00
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How to be a Successful Cafe Owner

The following article is based on the chapter “attributes of a successful cafe owner” from “The Complete Guide to Buying a Cafe” by cafe expert Craig Reid. Craig’s books are available for purchase via his website www.thecafeninja.com [...]

2017-12-19T11:31:36+00:00
Fast Settlements Briar Kirkby Tel: (08) 9316 2780 E-mail: briar@fastsettlements.net West End Settlements Erica Settineri Tel: (08) 9443 3044 E-mail:erica@westendsettlements.com.au Greenstone Legal Jade Lattimore Director Tel: 0438 303 763 Web: greenstonelegal.com.au All Property Conveyancing Heather Norfolk Tel: (08) 9460 5010 E-mail: heather.norfolk@allproperty.com.au
Liberty Brett Foster Tel.: 0438 775 570 Email: bfoster@libertynetwork.com.au  Able Finance Jon Elliott Tel: 9328 3600 E-mail: jon@ablefinance.com.au Southshore Finance Mr. Steve Greenwood or Michael Coombes Tel: (08) 9474 1999 E-mail: steve@southshorefinance.com.au Crediflex Finance Adam Barbuzza Tel: 0439990946 E-mail: adambarbuzza@crediflex.com Capita Finance Stephen Geel- Finance Professional Tel: 0437 855 094 E-mail: sgeel@capitafinance.com.au Works with traditional and non-traditional lenders such as Liberty finance. 
Marpik Accountants Pty Ltd Mat Honner E-mail: mat@marpik.com.au Tel: (08) 9447 1003
Nick Hancock M: 0450 144 139 E-mail: nick@nickhancock.com.au www.nickhancock.com.au Taral – Business Plans Tax Accountant UNIVERSAL TAXATION SERVICES Tel: 08 9258 8137 Mob: 0433 930 744 www.universaltaxation.com.au
Rayford Migration Services http://www.rayfordmigration.com Pauline Yong Email: enquiry@rayfordmigration.com Rayford Migration Services : MALAYSIA OFFICE
Contact detail: Contact
 
Company detail :
 
Service provided :
 
188 and 132 information :
 
Rayford Migration Services : SINGAPORE OFFICE
Contact detail: Contact
Phil McGuire ANZIIF (Assoc) CIP Director Unit 12-64,First Ave Mount Lawley WA 6050 PO Box 429, Mount Lawley WA 6929 Tel: (08) 6424 8566 Fax: (08) 9371 5664 M:0448 357392 E-mail: phil@excelinsurance.com.au Web: LinkedIn
Panther Corp Kristy Hubbard Tel: 9388 0551 E-mail: kristy@panthercorp.com.au Easy Companies easycompanies.com.au
Stamp Duty-WA Department of State Revenue http://www.finance.wa.gov.au/cms/content.aspx?id=2055   Small Business Development Corporation http://www.smallbusiness.wa.gov.au/ Lots of useful information and assistance for small business Chamber of Commerce WA http://www.cciwa.com/ Police and CV Checks www.CVcheck.com The Western Australia Police for National Police Certificate https://www.police.wa.gov.au/Police%20Direct/National%20Police%20Certificates   Working with Children Check https://workingwithchildren.wa.gov.au/
Australian Children Education & Care Quality Authority (ACECQA) http://www.acecqa.gov.au/regulatory-authorities1/contact-your-regulatory-authority WA Department of Community Services Childcare https://www.acecqa.gov.au/sites/default/files/2017-12/PA09_TransferofProviderDeclaration.pdf (PA09 Transferring provider declaration (service approval)) Tel: 62103333    Education and Care Regulatory Unit (ECRU) https://www.dlgc.wa.gov.au/LegislationCompliance/Pages/Education-and-Care.aspx ECRU Introduction to Applications https://www.dlgc.wa.gov.au/LegislationCompliance/Pages/Education-and-Care.aspx Provider Application (PA01) including Police Clearance Provider https://www.acecqa.gov.au/sites/default/files/2018-07/PA01_ApplicationForProviderApproval.pdf Approval Declaration of Fitness and  Property (PA02) https://www.acecqa.gov.au/sites/default/files/2018-09/PA02_DeclarationOfFitnessAndPropriety.pdf PRODA – Childcare funding application for Childcare providers https://proda.humanservices.gov.au/pia/pages/public/registration/account/createAccount.jsf Childcare Subsidies for Childcare Business owners https://www.education.gov.au/child-care-subsidy-system
Chifley Advisory Nazar Alexander Bazzi Tel : (02) 8075 1045 E-mail: nbazzi@chifleyadvisory.com.au Website: www.chilfeyadvisory.com.au

Step One – Entity Purchase in

The first step in purchasing a childcare business is deciding on the entity you wish to purchase the business in. That could be a Company or a Company & Trust. A company can be organised via ASIC or via your accountant.  A company and Trust will require an accountant or a lawyer to establish.

If the Company has 3 Directors all three Directors will be required to go through the interview process. Therefore, if there is a person in the Company who is childcare trained or has Education experience it is best to only have them as a Director. They will then be the only person required to go through the interview process and will have a better chance of being successful.

Step Two – Apply for a Provider number

To be able to own and operate a childcare business you must hold a Provider number.

This Provider number is applied for via the Department of Communities – Childcare section in the State you live in or the State you are buying the Childcare business in.

The Provider number is attached to the entity e.g. Company – Company/Trust you have set up that will ultimately own the Childcare business.

The application – PA01 https://www.acecqa.gov.au/sites/default/files/2019-06/PA01_ApplicationForProviderApproval_0.pdf

must be completed online and will require you to have:
  • Police Clearance certificate, not more than 90 days old
  • Working with Children card

The current price is $227 at Sep 2019

The Provider number once obtained does not last forever, unless you continue to own childcare business. If you have not purchased/own a centre within a period of approximately two years from time of issuance the Department may cancel the number.

The application will require credit checks into the Company history and ALL the Directors of the Company.

Interview

All Directors of the Company will be required to attend an interview.  Shareholders are not usually required to attend interview.

The interview is usually two to three hours and is a panel interview of usually three to four personnel. To pass the interview, a thorough understanding of Childcare legislation, policy and procedures will be required. If you are purchasing a centre through Advance Business Brokers, we can assist with this process and provide detailed information on the questions and documents you will need to be proficient in.

The interview is usually conducted about 6 – 8 weeks after lodgement of the application.    If you have been successful, an indication is often provided on the day. Notice of approval or decline is provided in writing around 7 – 10 days after the interview.  Nationally around 70% of applicants fail.

Receipt of Provider Number

Once you have received your Provider number, you can then look for a childcare business and advise the broker/buyer you are already in possession of your Provider number which puts you in a stronger position to purchase.

Or, if you have already signed a contract to Purchase a centre and Provider number is a condition of contract you can move onto lodging the other applications.

Transfer of Service

Transfer of Service can only be lodged with a Provider number. https://www.acecqa.gov.au/resources/applications

Transfer of Service takes 42 days from date of lodgement.

To lodge your Transfer of Service you may be required to provide with your application a letter from the landlord confirming the landlord has approved you as a new incoming tenant OR:  contract confirming you are purchasing the property as well as the business.

These documents are to confirm you have the right to operate the Childcare business in the property it is located.

Two forms need to be completed for Transfer of Service.  PA09 and SA04.

The PA09 Is completed by the current owner/Seller of the business and forwarded to the Buyer.  The Buyer completes the SA04 and attaches the PA09 with the SA04 application.

The Department of Communities/Childcare may choose to inspect the centre. This does not happen every time.  If they do undertake an inspection, a list of items will be issued to the Seller to complete.   All of those items should be completed prior to settlement.

CCS – Child Care Subsidy from the Department of Education –   Application  https://www.education.gov.au/applying-child-care-subsidy-ccs-approval

If the buyer, has a contract in place to purchase a business, and have just applied for and received their Provide number, then as soon as their Provider number is issued, they should also lodge their application for CCS funding.    This application can also take 42 days.

Usually, application to CCS and for Service Approval are lodged at the same time on different websites.

CCS application now requires a business plan and financial information on the applicant.

If is recommended this application form be downloaded at the same time as the Provider Application if you are a new childcare purchaser, so the applicant can work through and prepare all the information required in advance.  Then you are able to lodge the business plan, accounting information and other documents will all be completed and ready to be attached.

Settlement

Settlement on a childcare business usually occurs on a Friday (due to Government funding going Monday to Friday) approximately one to two weeks after Transfer of Service is unconditional.