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PREPARING YOUR BUSINESS FOR SALE

Buyers ask a lot of questions when looking at buying a business, so it’s a good idea to have your business documents organised and up to date.

 

Below is a guide to the type of information that is asked for by buyers:

 

Finances and Assets

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  • Financial statements (for as far back as possible) – cash flow statements, annual turnover, and profit and loss statements

  • Details of physical assets such as equipment, and stock

  • Details of other assets such as goodwill towards the business and intellectual property

 

Legal information

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  • Legal documents such as leases and insurance policies

  • Registration papers such as business name certificates, Australian Business Number (ABN) registration papers, licenses, and permits.

 

Business Profile

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  • Business history such as start date, ownership changes, and location changes

  • Sales information such as reports and forecasts

  • Market conditions such as details of competitors, and how your business compares to them

  • Business documentation such as marketing, staff roster and customer service procedures

  • Other such as opening hours

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Staff, Supplier, and Customer Information

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  • Employee details such as job descriptions, skills and pay rates

  • Supplier details such as supply agreements and supply prices

  • Customer details such as customer numbers, customer profiles and direct marketing activities

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Check List

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The next steps directly after we have listed your business will be for you to have the following information ready for buyers that are showing a keen interest in looking at your business.

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The information is also required for due Diligence by buyers

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  • Roster showing all staff including if the owner is on the roster. ̈ Staff pay rates

  • Business registration

  • Full equipment list

  • Invoices from coffee supplier to prove amount of coffee purchased

  • Full lease

  • Profit & Loss showing turnover, cost of goods, outgoings, wages, profit, and costs ̈ BAS Statements

  • Proof of daily takings

  • Rental Invoices

  • Electricity Invoice

  • 4 weeks actual till receipts

  • Proof of insurance cover

  • BAS Statements

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