We understand that buying a business can seem a fairly daunting task, we know the typical questions and concerns you may have… all our business brokers have owned a business, they have been exactly where you are today and have an empathy with you. We know you will be faced with a multitude of choices which can be extremely difficult to differentiate and we can help you to understand which types of business best suit your requirements and what price range will be affordable.
When you register as a buyer you will be informed of new listings before they are advertised.
We know buyers want the facts, they want to find out as much as they can about the business quickly so they can assess the potential of the opportunity.
All the businesses we sell are presented professionally with a comprehensive and detailed Information Memorandum incorporating all the important information so you can discuss the business with others also involved in the decision making process, family, financiers, accountant, solicitors and then make an informed decision.
- Knowledgeable experienced business brokers who have owned their own businesses
- Registered business buyers receive advance notice on new businesses
- Access to confidential businesses for sale listings, not advertised
- Well presented business opportunities
- Professionally prepared Information Memorandums
- Introductions to suitable business loan financiers
- Introductions to business professionals, solicitors and accountants.
- Buyer business acquisition service if looking for a specific business
What is the perfect business to buy?
Often we are asked what is the perfect business, there is no perfect business as each business and industry has its own unique set of challenges for the owner. Deciding which business is the right one for you starts with asking yourself some important questions. Firstly, consider the bigger picture. Why do you want to buy a business? Is it to fit in with a current lifestyle or to attain a new lifestyle? Are there family considerations? Will this business achieve all these goals?
Secondly, do you (and or your business partner/s) have certain skills, experience and expertise that would suit certain industries. We have also sold businesses to owners who have moved into an industry where they have had no past experience but could relate to that industry. Look for a business with an eye towards what you can do with it, how can you improve it, how can you use your ideas and enthusiasm, make it more profitably and productive. A new owner can sometimes see potential and new opportunities in a business that the current owner can’t, simply because the new owner may have skills better suited.
It’s also important before you start looking to work out what funds you have available to buy a business and how much you can borrow. It can be difficult obtaining a business loan unless you own property to secure the loan against, talk to your bank or business lending specialist first otherwise you can waste a lot of time looking at businesses that may be beyond your funding ability. Some franchises have bank accreditation and may lend up to 70% of the value of the business to approved purchasers, we can advise you of which franchise systems qualify.
Why do I need to sign a confidentiality agreement?
We are available to give you a general overview of the businesses we have from sale to identify suitability, however we cannot disclose the name or location of the business. If you are wanting specific information on any business you will need to sign a confidentiality and non-disclosure agreement before detailed information will be provided. This is to qualify you as a genuine buyer and to protect the confidential information you will receive along with you undertaking not to pass confidential information on any business to other parties. Business owners want to be assured that the information given out to a pre-qualified buyer will be treated in confidence.
How will completing a buyer questionnaire help me find the right business?
If when completing our online confidentiality agreement you also complete the confidential buyers questionnaire section this helps us to find the right business for you. We may have new businesses we are in the process of listing or non-advertised confidential listings that match your criteria. We may also have businesses with vendor financing available or a bank accredited franchise that you may not of considered.
How do I get detailed information on the business?
Once you have signed a confidentiality and non-disclosure agreement, you will be provided with an Information Memorandum on the business you are considering purchasing. This is a very detailed document and will provide you with most of the information required for you to make an informed decision if the business is suitable for you.
Can I inspect the business?
Any inspection of the business must be organized through Noble Business Sales. As specified in the confidentially agreement you must not approach the owner directly yourself or speak with staff and any of the businesses customers or suppliers. An inspection of the business should came at a time when you have considered the financial information, are satisfied with this and want to proceed further, we will then organize a time suitable to the business owner.
How do I make an offer?
The law requires that all agreements for the sale and purchase of businesses need to be in writing using a Business Sale Contract. We will talk you through the process of preparing a written offer that protects your interests in the contract.
Who draws up the contract?
Noble Business Sales will prepare a draft Business Sale Contract which will be sent to your lawyer for approval prior to signing. This document includes conditions and clauses that protects the interests of both parties and will contain various conditions that need to be satisfied by you within a set timeframe. These may include: verification of financial and operational information (due diligence); equipment inspection; approval by landlord to the assignment lease; compliance with licensing and regulatory bodies; approval of finance; franchisor approval for franchise businesses and solicitor’s review of leases and contracts.
How do I organize finance?
You can obtain business finance from a number of sources including your current bank. We strongly recommend using a commercial lender, with industry knowledge and experience, who will understand the special requirements of business lending. If purchasing a franchise business there are specialist franchise finance brokers who can simplify the process for you. We are also able to provide finance contacts if you need them.
How do I find a lawyer/accountant?
It is best to use professionals who are experienced in this specialized area and we are happy to provide you with a list of contacts if required. You can of course work with your current lawyer and accountant if you believe they have the relevant experience. If purchasing a franchise business there will be franchise agreements requiring you to sign and you will need legal advise from a lawyer with franchise industry experience.
What is Due Diligence
Offers to purchase a business will contain various conditions that allow you and /or your advisors access to more detailed information; business records; verification of financial and operational information (due diligence); along with a defined period of time to organize equipment inspection; approval by landlord to the assignment lease; compliance with licensing and regulatory bodies; approval of finance; franchisor approval for franchise businesses and solicitor’s review of leases and contracts. Once these conditions have been satisfied the sale contract then becomes unconditional and a settlement date is confirmed.
CLICK HERE To find out more about the businesses for sale or find out more information about buying a business.