Are you thinking of buying or starting a new business?

Do you want to avoid the hidden traps that can potentially cost you hundreds of thousands of dollars?
Get a FREE 30-minute consultation before starting or buying a business to learn some of the proven tips and step-by-step strategies to help you on your new business journey.

Some of the important points covered are:

  • The due diligence checklist
  • Questions you must ask yourself before starting or buying a business
  • How to research the industry, the rules, and regulations
  • How to read and understand the “financial numbers”

Here is a sample checklist for buying an existing business:

  1. Why is the business being sold?
  2. Copies of the Business Tax Returns for the last 3 years
  3. Copies of complete Financial Statements for the last 3 years
  4. Copies of the business activity statements for the last 3 years
  5. List and the current market value of Assets being sold with the business
  6. Current accounts Receivable & Payable reports
  7. Client/customer overview and percentage of the business they represent
  8. List of Employees current and past and Payroll Records
  9. Copies of all current franchise agreements, licenses, loans, contracts, and agreements
  10. Current Copy of the lease if applicable
  11. Copy of the current and complete Supplier List (must review Contracts & Relationships)
  12. Copy of All Contracts, including phones, computers, vehicles, equipment, advertising, etc.
  13. Details of all current marketing and advertising
  14. Copy of the Operations Manual and their Business Plan
  15. The income breakdown e.g., products, services, other passive income, etc
  16. Compare turnovers & net profits from year to year and look for any substantial variations!

Call us on 07-3286 2407 for a FREE 30-minute consultation and enjoy a successful new business journey.

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