To Buy or Not to Buy? Questions to Ask Before Committing
Outside of owning your own home, owning your own business ranks as the most coveted of all Australian dreams. The autonomy, freedom from office politics, and opportunity to chart one’s own course are just some of the attractions. There is also the satisfaction that comes with growing a business, developing local customer relationships, and converting […]
Understanding Your Financial Needs When Buying a Business
Before diving into the loan application process, it’s crucial to have a clear understanding of your financial requirements. Assess your business goals, projected expenses, and revenue forecasts to determine the amount of funding you’ll need to achieve success. As a general overview for applying for funding is that hospitality businesses require 50% of cash or […]
Why You Should Work with a Finance Broker on Your Business Purchase
Using an experienced finance broker to prepare your business (or equipment) finance application can offer several advantages over a DIY approach. Here are five reasons why it’s beneficial to engage a knowledgeable professional for this purpose: Expertise and Knowledge: Finance brokers specialise in understanding the intricacies of the finance industry and possess extensive knowledge of […]
Be Prepared for the Lease Assignment Process
Once you have negotiated the purchase price of the business that you are interested in buying it’s easy to think that the rest of the deal is downhill, unfortunately, this is often not the case. Whilst agreeing on the terms and the price are a big step in the right direction that will mean […]
Two Minute Tips When Buying a Hospitality Business – Know Your Budget
In a market where finance is getting more expensive and much harder to get loans approved, it’s a good idea to make sure that you fully understand your budget before you start making inquiries on businesses. When you are working out your budget it is important to consider all of the additional costs involved […]
