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Key Contacts

Commercial

Buying a business

Before You Look

Before you look for a business, narrow down the industry types you would consider and the price range that you should look in.

Key things to remember are:

  • Listen to your instincts
  • Take independent professional advice from commercially astute accountants, lawyers and bankers
  • If the right business presents itself, be prepared to move quickly to avoid missing out on the opportunity to another purchaser

Consider

  • What are your strengths and interests?
  • What sort of business would you like (or not like)?
  • How much cash/capital do you wish to spend?
  • If you borrow, how much can you realistically borrow?
  • What property equity do you have to secure your borrowings against?

Business Search

When you search for a business for sale, you can expect to be provided with a comprehensive information memorandum by the business broker. All financial and other information should be fully quantifiable and will be subject to a “due diligence” inspection before you confirm your purchase.

Expect to sign confidentiality agreements – a business sale is a sensitive transaction. A business purchase will often cover many complex issues – be patient and diligent in your investigation.

The Buying Process

A typical business buying process:

 
Step One: Register Interest
  • Register your interest in buying a business with one of our brokers and complete our Purchaser Profile Form
  • Contact one of our business brokers to receive a brief summary of information about the opportunity that has been advertised
Step Two: Information Visit the broker to sign a confidentiality agreement and receive a detailed Information Memorandum
Step Three: Ask Initial Questions
  • Before you consider buying the business, prepare a business plan
  • Ask questions around your plan to grow or improve the business
Step Four: Meet the Owner and Visit the Premises Your first impressions of a business are often your most objective
Step Five: Offer
  • After further questions and professional advice you are at the stage of making an offer, which our brokers can assisst in the preparation of
  • Your offer will be subject to several conditions being met and further undertakings by the seller including a period of training.
Step Six: Confirmation A busy time finalising many issues, meeting staff, suppliers etc
Step Seven: Possession Introduction by the vendor to customers, operating systems, etc