How long have you been a business broker? For various reasons, business broking is a career that people tend to take on later in life. You may be dealing with a business broker that seems to have had many years’ experience however often they have only recently entered the industry. Asking how long someone has been in…
Author: Michelle Wright
As an excited buyer, often potential franchise owners do not check the fine print when it comes to exit fees charged by the franchisor. We have delt with many sellers of franchises that have been unaware of the fees charged when they intend to sell their franchise business. If you own a franchise, you…
A common mistake we see with business owners is that they decide to operate multiple businesses under one ABN. It is true that it will increase costs to set up separate entities for multiple businesses. It is also true that not setting up separate entities can be a very costly exercise. A couple of very important…
Here are a few points to consider that will help your business stay in a saleable condition as we head into end of financial year. * Stock. These values are commonly discussed at this time of year however have you considered how the ageing of your stock may impact business value? Business buyers don’t…
Business owners may be wondering what to expect when considering the prospect of selling their business in the next 12 to 18 months. What can be done during this time to maintain the value in their business? As business brokers we need to be anticipating what buyers will want to review in order to…
If you are thinking of selling your business and you currently have loans on your machinery, vehicles or any other plant and equipment used in your buisness you should be aware that any buyer will expect that these assets will come free of any debt as part of the business sale. This is an important…
Many business owners still believe that they are ‘beating the tax man’ when taking payment in cash from customers and not declaring this as income. This is a big mistake, there will not only be tax implications and penalties if caught by the ATO but also the business is being devalued significantly by transacting this way with…
Ensuring your business has a range of clients is not only critical to the success and sustainability of your business but also adds value to your business when it comes time to sell. Most buyers will review your customer base to understand some of the risks involved in acquiring your business. The more diverse the…
The REIQ hosted their annual gala dinner on 16th March 2019 at Brisbane’s RNA Showgrounds where winners for the 2019 REIQ awards for excellence were announced. Michelle Wright was a finalist along with top performing agents from Benchmark Business Sales and Link Business Brokers. Michelle Wright was announced as the 2019 REIQ Business Broker of…
Often, we speak with potential sellers who have accumulated a significant amount of stock over many years. Business owners should monitor stock levels carefully as when it comes time to sell buyers will most certainly only want current stock that is saleable and in a good condition. We recommend regular stock takes to ensure that…