Your accountant can help you work through the exciting decisions about buying a business.
Buying a business is an exciting time. New passions and plans for a bright future
Tough decisions need to be made to get it right when buying a business.
Buying a business needs you to look beyond the hipe.
When looking for a business to buy you maybe looking at https://www.seekbusiness.com.au/ to find your next dream.
Honesty, true to your heart and your passion all play a part when buying a business
First, the role of an accountant is to help you work through the maze of opportunities and traps that present itself. Such as:
1. Are you buying a dream of a taking over someone’s headache?
2. Are you buying a job or a business?
3. Are you ready for small business and the fun and hard work it brings?
Some of these questions are challenges that you as the small business operator need to face and explore.
As your small business accountant, we need to first understand your needs, passions, and goals.
First;y, any business that you will look at purchasing should ensure that it ignite these qualities
A potential business that inspires you can will help you move to the next stage of teh process easily.
Buying a potential business is likened to that of buying a second-hand car. We need to explore what’s underneath the bonnet. Do the tests and make the correct decision There will be things that will not be right, can be changed or needs a major overhaul.
Look beyond what is provided to look at what the real profit is!
Our analysis as your Accountant requires us to deep dive into a potential business purchase to make sure the profit ratios and financial statements presented with industry averages. Do the finacials make accounting sense. Is the profit right? We endeavour to look for things that are out of the ordinary not necessarily the obvious that will impact on your profitability if purchased.
By undertaking a review of the opportunities that a potential business purchase could bring will help you in your decision making process. What can be improved, capitalised on, or changed that will improve your business purchases. By analysing these vital questions will outline the potential of profitability. Buying a business about making a living and creating a future for you and family. Under the new management should take on a new meaning. Is this you?
We slice and dice the financials provided by the vendor and undertake some basic what if examples. This will outline if you as the new owner implemented some positive changes and how this will impact the bottom line
Accoutants have business knowledge
Consult with us today about your new business purchase. We ask you to provide us the vital information when we catchup.
- Copies of what the vendor and business broker has provided
- Your working capital availability and access to funds to purchase
- Copies of summary information and any other prior businesses of a similar nature that you have looked at as a comparison.
Time is of the essence and we need to quickly review what is provided. Negotiating with a vendor or their agent can sometimes be easy or frustrating. Having the right information at your fingertips is great start to your path to you buying the right business.
You may like our related article about looking for the best small business accountanthttps://www.gartlyadvisory.com.au/uncategorized/looking-for-the-best-small-business-accountants/
Contact us at https://www.gartlyadvisory.com.au/contact-us/