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Your Ultimate 10-Step Checklist for Buying a Business in Australia

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Your Ultimate 10-Step Checklist
for Buying a Business in Australia

Are you planning to purchase an existing business in Australia? The thought of becoming your own boss can be exciting, but it can also be a roller coaster ride filled with ups and downs.

Before embarking on this journey, would you like a helpful checklist to ensure that you don’t overlook any important details while purchasing a business?

A woman in a gray blazer and a man in a light blue shirt with glasses are seated at a desk, looking at a tablet and a notebook. The woman is writing in the notebook, while they both appear focused on their work as business advisors for a prominent Melbourne accounting firm.

Navigate Buying an Existing Business with Confidence

Entering the world of business acquisition marks the beginning of an entrepreneurial adventure, rather than just a transaction. Although this next step may seem intimidating, it can lead to significant and sometimes challenging decisions. That’s exactly why we have created an invaluable checklist and guide to help you confidently navigate through the initial stages of the business purchasing process. Our goal is simple: to equip aspiring business owners with the knowledge, insights, and tools needed to confidently navigate the journey of starting a new business.
By downloading our guide below, you are taking the first step towards successfully buying an existing business in Australia. Our checklist and guide serve as your compass, illuminating the path toward successful ownership. Acquiring a business involves a labyrinth of decisions, from financial assessments to formal valuation and legal intricacies. Buying a business can be fraught with potential pitfalls, our resource empowers you with the knowledge to identify and mitigate risks, ensuring you proceed with confidence.
Don’t navigate the complexities of purchasing an established business alone – let us be your guide to success.
Making informed choices is crucial at every stage of buying an existing business. This document equips you with the insights you need to make the right business decisions at every turn. It’s easy to overlook crucial details in the heat of negotiation. Our guide leaves no room for oversights, covering everything from financial assessments and professional advice to legal safeguards.
You’ll embark on your journey to buy a business with clarity, knowing that you’re well-prepared for every challenge and opportunity. By downloading our free Buying A Business Checklist, you’re not just acquiring a resource; you’re gaining a trusted companion to illuminate your path to buying a business.

What you’ll find inside our Buying a Business Checklist

Our Buying a Business Checklist contains valuable insights that can help you make an informed decision about purchasing a business.
Some of these insights include:

Advantages of Buying an
Existing Business

Discover the benefits of business acquisition, including reduced start-up risks, an established customer base, pre-existing brand assets, and the potential for immediate profitability. Leverage the stability, historical performance data, and existing brand to expedite your path to success.

Challenges when Buying
Existing Businesses

Understand the potential obstacles, from financial and tax implications, business loan liabilities, and cash flow issues to staffing and cultural integration. Navigate complexities in ownership transition and due diligence, ensuring a smooth acquisition process.

Considerations when
Buying a Franchise

Explore the unique aspects of franchise ownership, including brand alignment, operational standards, and franchise fees. Gain an understanding of the advantages of aligning with an established brand and established business and model.

Considerations when
Buying a Leasehold

Delve into the complexities of leasehold acquisitions,
from purchase contract negotiation intricacies to property management responsibilities. Learn how to do market research
to assess location suitability and facilitate a seamless transition
in leasehold ownership.

Due Diligence Essentials

Master comprehensive due diligence, examining financial, legal, operational, and cultural aspects as well as intangible assets and intellectual property considerations for the potential business. Evaluate financial statements, contracts, efficiency, and employee morale to ensure a well-informed acquisition.

Risk Management Strategies

Explore a range of strategies to manage and mitigate business risks, including risk quantification, contingency planning, and insurance coverage. Foster a risk-aware culture, employ legal safeguards, and conduct ongoing risk assessments for successful risk management throughout your business purchase and acquisition journey.

Looking for an Accountant to help facilitate your Business Acquisition?

Are you seeking a trusted partner to navigate the intricate financial aspects of your business acquisition journey? Look no further. At Rogerson Kenny Business Accountants, our team of seasoned accounting and business professionals specialise in professional advice and guiding individuals just like you through the complexities of acquiring a business.
Why you need an Accountant for your Business Ventures
Buying a business involves far more than just signing on the dotted line. It’s a financial endeavour that requires careful planning, strategic decision-making, and a deep understanding of the financial landscape. This is where our experienced accountants step in.
Our experts bring a wealth of knowledge and a proven track record of successful business acquisitions from a vast collective of different industries. Whether you’re a first-time buyer or a seasoned investor, having a dedicated business accountant by your side can make all the difference.
The cover of a guidebook titled "Checklist for Purchasing a Business" by Rogerson Kenny Business Advisors features a black-and-white photograph of a modern high-rise building against a cloudy sky. The company's logo is at the top right corner.

Why Download Our Guide To Buying Established Businesses

Expertly Curated: Wisdom of Experience

Our checklist is more than just a document; it’s a repository of knowledge gained from years of assisting entrepreneurs like you. Every item on this checklist is carefully curated by experienced professionals at Rogerson Kenny Business Accountants, who have successfully guided established businesses and countless buyers on their journey to business ownership. Their wisdom and insights are woven into every point, ensuring that you’re benefiting from the best practices and proven strategies that have led others to success.

Actionable: Your Blueprint for Progress

We understand that a checklist is only as valuable as its ability to drive you toward your goals. That’s why our checklist isn’t a static list of tasks; it’s a dynamic blueprint for progress. Each item is meticulously designed to be actionable, ensuring that you’re not just going through the motions but actively moving closer to your goal of business ownership. With our checklist, founded in best practices and years of experience, you’ll not only be ticking off boxes; you’ll be taking tangible steps toward your dream of having your own business.

Comprehensive: Covering Every Angle of Acquisition

Buying a business is a multifaceted endeavour with many moving parts. Our checklist leaves no stone unturned. It’s a comprehensive guide that covers every crucial aspect of the acquisition process. Our comprehensive checklist covers everything you need to know, from evaluating competitors to assessing assets and navigating tax complexities. It is designed to help you make informed decisions and avoid overlooking any important detail on your path to acquiring a business.

Buying a Business: Your Essential Guide

We’ve created this valuable 10 step checklist to guide you through the initial stages of assessing
a potential business opportunity

How our team can assist you in
Becoming a Business Owner

Here’s how our accounting professionals can support you:

  • Financial Assessment: We’ll work closely with you to assess your financial readiness for the acquisition. This includes evaluating your current financial position, helping you secure the necessary funding, and setting a clear financial strategy for the purchase.

  • Due Diligence: Our team will conduct a thorough financial due diligence process to ensure you have a comprehensive understanding of the financial health of the business you’re buying. We’ll scrutinise financial records and business assets, identify potential risks, and provide you with actionable insights.

  • Tax Planning: Business acquisitions can have significant tax implications. Our accountants will develop a tax-efficient strategy to optimise your financial position during and after the acquisition.

  • Negotiation Support: We’re not just number crunchers; we’re skilled negotiators. We’ll assist you in negotiating the financial aspects of the deal, ensuring you secure favourable terms.

  • Post-Acquisition Financial Management: Once the acquisition is complete, our team will continue to provide ongoing financial management and support to ensure the seamless integration of your new business.
A woman with long brown hair, wearing a beige blazer and white top, smiles and shakes hands with a man whose back is to the camera. Another man with a beard looks on, smiling. They appear to be in a modern Melbourne accounting firm office setting with glass walls in the background.

Ready to take the next step in
Buying a Business?

Your journey to business ownership, with a trusted accountant by your side, starts here. If you’re ready to explore how our team can support your acquisition goals, we invite you to book a discovery call with us.

During this call, you’ll have the opportunity to discuss your specific needs, ask questions, and gain valuable insights into the financial aspects of your acquisition journey. Our experts are here to ensure your path to business ownership is both informed and successful.

Don’t navigate the financial complexities of purchasing a business alone. Let Rogerson Kenny Business Accountants be your partner in achieving your entrepreneurial dreams.

Book your discovery call today and take the first step toward financial clarity and business ownership.

*This checklist and guide are intended for informational purposes only and should not be considered as legal or financial counsel. Always seek advice from qualified professionals before making significant business decisions.

Book your Discovery Call Today

    Meet Your Team of Melbourne Business Accountants

    Mark Rogerson
    Managing Director
    Rob Deayton
    Director
    Matt Dunn
    Director
    Narelle Cipriano
    Associate Director

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    Real stories from our valued clients.

    “"Over the last three years, we've been through a baptism of fire. Rogerson-Kenny has never failed to deliver for us. Our decision to move our business to them was based on needing full in-house services (accounting, advisory, and bookkeeping services) that normally only large corporate firms offer but wanting the special personalised service that only an owner-managed firm can provide."”

    - Valued Client

    “We have been clients of Mark and his team for the previous three years, during this time we have been the baptism of fire type of clients and Rogerson-Kenny have never failed to deliver. Our decision to move our business to Rogerson-Kenny was based on our wanting the full in-house services that normally only large corporate firms offer but wanting to keep the special personal service that only an owner operator managed firm can provide. The relationship has certainly been tested this year with firstly bush fires and then COVID-19, my conclusion from this experience “to congratulate myself on making the decision to move our business to Rogerson-Kenny”
    Mark and his team deliver a highly competent, on time, efficient, complete in-house service which can be tailored to meet each client’s individual requirements. Of course, nothing in life is free and neither are Rogerson-Kenny, but then you get what you pay for. An example, Mark and his team identified that previously an incorrect method had been used for assessing depreciation on several of our business assets. This was corrected and has resulted in future taxation savings in the $10’s of thousands if not the $100’s of thousands.
    As I said, you get what you pay for. Be smart, make the move and like us you won’t regret it.”

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