Answers to frequently asked questions about buying, selling, real estate and financing businesses.
Once you have made the decision to sell your business, the next big question is whether to sell privately or using the services of a business broker. Here are a few things to consider…
A mortgage broker not only can present you more opportunities with different lending partners (where a bank only access to a single suite of loan programs), they can also provide you a more personalised experience. This is especially useful if your situation is not straightforward. Mortgage brokers can save you time and money and undue stress.
When selling a business, establishing the correct figures is one of the most critical aspects of the process. Buyers will be incredibly diligent, and keen to effectively analyse the financials of the business.
Accountants will generally advise their business-owner clients of the best ways to legally minimise their tax obligations. As a result, many small businesses in Australia will produce accountant-prepared statements with a minimal net profit, and often a net loss for taxation purposes. It’s important to note, this does not necessarily reflect the actual cash results a business may produce. Here are a few more elements to consider…
Selling a business involves a lot of time and preoccupation. Most of the time deals are smooth and efficient. However, without the right plan in place some can be difficult and complex (causing stress and concern for the seller).
Fortunately, there are steps that business owners can take and things they can look out for, to avoid obstacles that impact the sale of a business. Read our 5 essential steps to selling your business without undue stress.
People rely on imagery to share information, and educate themselves on topics that interest them.
Future potential buyers will use images in much the same way, when viewing business for sale advertisements; they are able to get a ‘feel’ about the business, without solely relying on what is written in the text.
Images can change the mood and leave impressions much faster, and more accurately than words can.
In an instant, pictures can:
- Build businesses credibility
- Makes the advertisement interesting
- Tell a story about the business.
When a business is successful and looking to continue growth, owners will look to expand their business through franchising.
A franchise is a business relationship in which the owner of the business assigns independent people the right to market and distribute their goods or service, and to use the business name for a fixed period of time.
To understand franchising, there are several terms that you will need to be familiar with;
- Franchisor: a person or company that grants the license to a third party for the conducting of a business
- Franchisee: an individual or company that holds a franchise for the sale of goods or the operation of a service.
Read our detailed guide to franchising today.