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Buy A Business

Leap into the Business World with Confidence

As your Buyers Advocate, Alliance Business Brokers will work with you to ensure your leap into the business world is well guided and stress-free.

There are many things to consider when purchasing a business, and this information can be overwhelming. Likewise, you may be blinded by the light of being your own boss, and can’t really see the pot holes that a business opportunity may present. Working with a Buyers Advocate, can ensure you have an expert behind the wheel who can steer you in the right direction.

Our Buyers Advocate service ensures you act on accurate information and progress through the buying process stress-free. Through a thorough assessment of your needs, motivation and additional situations, we can assess the current opportunities available, evaluate potential outcomes, strategise the best way forward, and secure a favourable outcome. By working with trusted professionals, we ensure you secure the best start for your business.

The Business Buying Process

Alliance Business Brokers will work with you to identify your ideal business opportunity, assess the market and industry, dissect the financials, and determine what a business is really worth.

If you have made the decision to buy a business, you will generally follow the steps outlined below. Rick will also work closely with you, and ensure you are aware of any immediate next steps and key dates associated with the purchasing process.

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1.

Once you have determined you want to run your own business, schedule an appointment to meet with Rick. Rick can walk you through the businesses that are currently for sale in the area / industry of interest.

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2.

During your appointment, Rick will ask you a series of questions to help him understand what type of business you are looking for. It is also important to know your budget at this stage. Be open with Rick so he understands any limitations. Also, have an open mind when looking at a business. There are so many different types of businesses that you may not even be aware of.

3.

Be prepared to sign a confidentiality agreement commonly referred to as a CA. The CA ensures that the confidential information provided by the Vendor is kept discrete and legally protected against any misuse. Business Brokers are usually required by Vendors to have this agreement signed before providing confidential details about the business.

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4.

Once you determine you have an interest in a specific business, Rick will arrange a meeting with the Vendor for you to inspect it. 

5.

After your meeting with the Vendor, Rick may ask if you would like to proceed to the next step in purchasing the business. By now you may have seen the financials and be prepared to make an offer. If all the books and records have not been made available, you may still place an offer on the business and request that those items be produced through the process known as ‘due diligence’.

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6.

Rick will present the offer to the Vendor or their agent. If the Vendor accepts your offer, you will move into the due diligence phase where you will have a chance to thoroughly review the items you requested. At this stage of the process the business is taken off the market and reserved for you. If you are not satisfied with the information provided during the due diligence process, you have the right to withdraw from the transaction and receive your deposit back.

7.

Once the Contract of Sale is agreed to it will be sent to both you the Purchaser, and the Vendor for signing. On signing of the contracts, the balance of the deposit is required.

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8.

The balance of the final sale price is payable by you the Purchaser, to the Vendor at settlement.

If you’re ready to confidently leap into the business world, complete our enquiry form or contact Rick today!

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FAQs

Owning your own business can provide you with an opportunity for independence, security, income growth and equity build-up. But it is important to find the right business that will suit your individual circumstances (family, lifestyle, etc). It should also match your skills set, experience and your income requirements. To discuss the best solution, you can contact a professional Business Broker who will provide advice and information on what might be currently available.

A Business Broker will essentially help you find the right business for the right price. Because professional Business Brokers understand the market and various industries, they will be able to provide advice on the true value of the business you are interested in, and save you time and money. They can also help you structure an offer, and act as your negotiator.

Yes. We actively facilitate and promote discussion between potential buyers and the vendor. We believe it’s critical for the buyer to understand more about the business, and the vendor is the best person to answer any questions related to the business, it’s staff and operation. In addition to this, we also coordinate inspections as needed, and encourage the buyer to ask any questions during this time.  

If working with a Business Broker, most Vendor’s will require the purchaser to sign a Confidentiality Agreement. This is to ensure that proprietary information relating to the business in question remains confidential. Privacy and discretion are often pre-requisite of the business broking process, and are designed to protect the vendor’s business and intellectual property.

Training periods can be included in the contract as a condition of sale. In the hospitality industry, for example, a training period of two weeks prior to settlement is a common special condition of sale. Training would cover how the business operates and how to run it successfully going forward.

It is important to note that training arrangements are unique to every business. For larger, more complex businesses, or in a situation where a buyer requires more training, additional training can be negotiated with the vendor.

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