Discover What You Need
To Know When Buying A
Business In Australia
The more informed you are when buying…the less chance you’ll suffer a massive
financial loss & copious amounts of stress due to not buying the right business.
Taking the plunge of buying a business without prior research or knowing what to know…is risky.
- You could end up ‘burning out from too much stress, gambling away your family’s savings, or even losing your own home.
- Before buying a business; there are countless processes, regulations and business practices to be aware of.
- If you don’t know the buying process inside-out or know how to thoroughly vet a business before buying…
- You could end up making one of the most stressful and expensive mistakes of your life.
Want to see real-life example of why you should
research the buying process carefully beforehand?
Years ago, Alison purchased a Beauty Spa & Salon. At the time of purchase, there was a new lease executed for 15 years (three 5-year terms). Alison spent a lot of time, effort and money building up her business. Unfortunately for her, Alison’s landlord decided to put the property on the market. The Real Estate Agent selling the property was advertising on basis that the new buyer could kick Alison out of her business in 12 months’ time at the end of first lease term and begin to develop the site.
Luckily for Alison, Angela from Sell Your Business (who sold Alison the business) came in for a facial and heard the predicament. When asked about the building being sold, Angela told Alison to immediately check with her lawyer if he had lodged a “registered interest” or caveat over the lease at the time the business was purchased.
He had not; however, he did so immediately. The property agent was then informed no buyer could terminate Alison’s lease (without grounds) until the end of the full lease term of 15 years. The property was withdrawn from sale and Alison had security of tenure for the next 12 years.
This story is a powerful example of how tiny details and things you’d never pay attention to throughout the buying process, can have devastating effects on the business you buy. The best way to protect yourself, your finances and your business, is to arm yourself with knowledge.
One thing is clear when buying a business: the last thing
you want to do is to invest thousands of dollars into a
business that is not a sound investment.
But how can you even know whether you’ve got a good enough understanding of the process to start buying?
A great place to start is to see if you can answer these three questions below.
They’ll give you a good idea of the depth of understanding you need to have before taking the plunge of buying a business.
Question #1: What is the standard maximum term for a shopping centre lease?
Question #2: A new landlord bought a commercial property and wishes to develop. On what grounds may he be able to refuse the request of a tenant to exercise the options on a lease?
Question #3: If a bank is lending or securing finance over a business in commercial premises, which of the following is usually a condition of finance?
How did you go? Did you struggle to answer these questions?
When buying a business, you’ll need to know the answers to dozens of questions like these.
And if you don’t know them, you could suffer a substantial loss, get into legal problems or waste years of your life working in a business that drains you of all your happiness and energy.
You can’t be ‘winging it’ or cutting corners when investing in a business.
You need a thorough understanding of what is involved in the process
But if you’ve got a busy schedule, it can be hard to find the time to research and pick out all the information you need to know when buying a business.
Invest $97 (inc. GST) For Instant, Year-Long Access
Sometimes, the hardest part is that you don’t even know what you don’t know.
And that’s not made easier by the fact that most of the people you know can’t give solid advice on this topic. Many ‘advisors’ – friends, family, coworkers – mean well, but are not experts.
And of the actual experts you can go to – accountants, lawyers, financial planners etc – many are only experts in their particular field.
There aren’t many legitimate, cost-effective options available, when trying to learn the complex world of business purchasing.
That’s why we’ve put together an in-depth resource area just for business buyers who want to know more about how it all works, before they buy and sign the dotted line.
This area has countless documents, videos and materials, all of which will help you become more informed about the process and details of buying a business…
So you can rapidly feel more prepared, confident and business savvy, all of which will help you make sound business decisions when it comes to buying.
Sometimes, the hardest part is that you don’t even know what you don’t know.
And that’s not made easier by the fact that most of the people you know can’t give solid advice on this topic. Many ‘advisors’ – friends, family, coworkers – mean well, but are not experts.
And of the actual experts you can go to – accountants, lawyers, financial planners etc – many are only experts in their particular field.
There aren’t many legitimate, cost-effective options available, when trying to learn the complex world of business purchasing.
That’s why we’ve put together an in-depth resource area just for business buyers who want to know more about how it all works, before they buy and sign the dotted line.
This area has countless documents, videos and materials, all of which will help you become more informed about the process and details of buying a business…
So you can rapidly feel more prepared, confident and business savvy, all of which will help you make sound business decisions when it comes to buying.
Introducing…The Buyers Members’ Area:
Get access to the must-have business buying guide; ‘Don’t Lose Your Shirt’, as well as videos, documents and a helpful training course to coach you through buying a business in Australia.
The Buyers Members’ Area has a wealth of relevant information you can refer to time and time again, regardless of your experience.
All information has been compiled from 40 years of business experience (as both a manager and a business owner), as well as 12 years as a business broker.
This resource and training area is the fastest, most cost-effective way to become an informed buyer. You’ll learn how the buying process works, what to do before buying, as well as how to spot any potential pitfalls in businesses before buying.
Upon joining, you’ll have all the information you need at your finger tips, so you can go from feeling discouraged, overwhelmed and hesitant…
To being confidently informed, ready to buy a great business…
And on the road to financial freedom and taking control of your destiny!
Here’s what you’ll gain access to:
The ‘Don’t Lose Your Shirt’ eBook: This short eBook gives an extensive overview the buying process.
- Fool proof ways to assess the risks involved in the business you’re thinking of buying.
- A comprehensive list of acronyms you need to be familiar with when buying a business – e.g. RI, CGT, P & E, WIWI, etc
- Documents you may need in the business-buying process (includes business plan templates which you may be required to prepare for a franchisor or business finance, commercial leases, ‘Sale of Business’ contracts & more).
- Contract conditions to be considered (so you minimize your chances of making financial & legal mistakes).
- A timeline of the ‘Contract to Settlement’ process for buyers to fill in along the way, to keep the process smooth and organized.
- A thorough checklist of all the questions you should be asking before buying a business, so you can spot any issues before you own them.
- An extensive training course which fast-tracks your learning on what you need to know before and during the process of buying a business.
- A collection of ‘beginner-friendly’ webinars which break complex topics into small, easy-to-understand, bite-sized pieces (includes topics of: finance, leases, price negotiations, migrants, entities to buy businesses in & GST/BAS/ABN).
- A huge list of easy-to-access resources which cover almost every angle involved in buying & operating a business (includes everything from settlement agents/lawyers, to accountants, to websites which sell businesses).
- PDF downloads of the very documents you’ll need when buying a business. Stay organized having documents like ‘Conditions for Contracts’ and ‘Pre-Business-Buying Checklists’ ready to go at your fingertips.
- Access to our Business-Buyers Forum. Get answers to highly-specific questions & tap into a support network of like-minded buyers.
- Get regular newsletter articles sent to your inbox relevant to business owners in Australia (automatically stay on top of any new changes and information in the industry).
- Exclusive info, documents & links relating to franchises. Get the full birds-eye-view of the benefits and set-backs for franchising, how to overcome these & more.
- A full run-down on everything to do with buying a business as a migrant, including: Australian Migration Agents, buying a business as a migrant, access to a list of MARA Migration Agents & more.
- Fully customizable ‘My Settings’ details for your Members’ Area account. Enjoy a smooth, easy-to-use interface to help with renewals etc.
An investment in knowledge pays the best interest.
When it comes to putting thousands of dollars of your hard-earned cash and the next few years of your life into a business venture; you can’t be guessing your way through it all.
You owe it to yourself to be on top of every detail throughout the process.
That’s what the Buyers Members’ Area is for. For a small investment of just $97 (inc. GST), you’ll gain instant access to the Members’ Area for an entire 12 months.
This means for the price of just 4 cups of coffee per month, you’ll have the knowledge to “Not Loose Your Shirt” in the complex world of business ownership.
The Buyers Members’ Area will act like your personal roadmap to guide you along the buying process from start to finish.
This will not only help you save countless weeks and a whole bunch of headaches trying to figure this out on your own…
You’ll also be better prepared for when it comes to dealing with experts like business brokers, accountants and lawyers. Much of the information they charge premium fees for, you’ll have ready to go at your fingertips.
After all, one of the first steps in safeguarding your hard-earned wealth is to learn for yourself so you don’t have to pay others for advice.
Upon joining, you’ll also see that you can easily make back your small investment of $97, with all the expensive mistakes you’ll avoid and the sound business decisions you’ll be making.
If you join the Buyers Members’ Area and find it wasn’t useful or wasn’t what you were looking for; you’ll get a full refund of your money, no questions asked.
So join the Buyers Members’ Area today and enjoy making a risk-free investment in yourself and your future business.
You’ll be armed with the most up-to-date knowledge of buying a business in Australia (so you’ll always have the edge).
Remember: Knowledge is power. Or to quote Warren Buffet:
“Risk comes from not knowing what you are doing.”
Ready to demystify business buying forever? Simply click below to join now.
Don’t want to join today, but would like to receive our newsletters and helpful tips.
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