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Information Required From Business Sellers

 

To assist you in providing the information we need to promote your business to potential buyers, the following suggestions have been provided. We are aware you will not find all of the below relevant and they are there as a suggestion. Remember, the better the information a buyer has the quicker a decision to buy will be made!

 

  1. Financial Statements
    • Profit & loss as many years as possible. (3 previous years is generally accepted as normal requirement)
    • Latest figures (Year to date), notes on all financials.
    • An Add-back sheet of non-recurring, extraordinary or personal expenses. (With explanations – if required)
    • Aged debtors and creditors.
    • Depreciation schedule

 

  1. BAS Statements
    • Business activity statement (copies of last 12 months monthly or quarterly BAS statements)

 

  1. Lease Documentation
    • Provide a copy of a fully stamped executed lease, signed by all parties.(Not an unsigned draft copy)

 

  1. Deed of Assignment
    • Please provide Deed of Assignment fully executed by all parties. (A Deed of Assignment is where you have bought a business, and the lease has then been assigned to you it consists of between 3 to 8 pages)

 

  1. Current Rent Invoice
    • Please provide a copy of your latest rent invoice from your landlord. (This will show the difference between your rent, outgoings and what you are being charged for)

 

  1. Plant & Equipment Owned
    • List of all plant & equipment owned by you. (include everything that is used in the normal operation of the business that is to be included in the sale of the business)

 

  1. Plant & Equipment on Lease
    • Leased which is not to be paid out at settlement and a copy of the lease agreement. (A copy of the lease payment slip or monthly payment advice or invoice)

 

  1. Plant & Equipment on Rental / Loan
    • List of rental and or loan equipment including cost per month and details of the loan. (This equipment is not owned by the business and can be sent back to its owner)

 

  1. Business Name
    • We need to know the full business trading name (s) and the QBN Number (s). (Transfer of which to be included in the sale)
    • A copy of the business registration certificate.
    • The name of the entity or full names of the owners of the business name.

 

  1. Licenses & Permits
    • Trademarks. (A copy of the Trademark Registration to be transferred in the sale)
    • Work place registration.
    • All licenses needed for the business to trade. E.g. Café license, environmental license, B.S.A license. Etc.

 

  1. Franchise
    • Please provide a fully signed Franchise Agreement,
    • Disclosure Statement (Including any requirements of the Franchisor in the sale / transfer of the Franchise)

 

  1. Business Phone, Fax and Email Addresses
    • Current business phone, fax and mobile numbers. (All numbers essential to the running of the business)
    • Email Addresses used by the business

 

  1. Website & Domain Names

 

  1. Business History
    • How long has the business been operating in its present location. Has the business operated elsewhere,
    • What are the main aims/objectives of this business?  Reputation of the business.
    • Describe the nature of the business (i.e. retail, manufacturing).
    • Give a breakdown of the products, services provided.  Details about your product and or service.  Price lists.
    • What are the major achievements of the business?
    • What are the trading times? What trading areas are covered?
    • Provide a copy of any advertising (i.e. Press adverts, sales or marketing brochures, flyers etc)
    • What/who do you cater for?  What kind of customers do you attract?
    • Complementary operations – room for expansion.  Growth or area – population of business.
    • Increased advertising/promotion.  Expanding range of products and or services
    • Franchising and or licensing possibilities

 

  1. Customer Base
    • Please provide the number of customers you regularly service.
    • How many major customers make up 50% of your business? Any statistics would be appreciated.

 

  1. Competition
    • Local (information on the competition businesses within the area).
    • Do these businesses have any effect on your business?
    • Potential new businesses.

 

  1. Directors
    • Full names of the directors of the business.
    • Addresses & phone numbers for after hours contact.

 

  1. Reason for sale
    • Reason for the sale of the business.

 

  1. Yellow Pages Commitment
    • Have you signed an agreement with Yellow Pages that you require the purchaser to take over?
    • How many advertisements have you taken out of Yellow Pages?
    • How many payments are still required to be made and for what amount?
    • Please provide any contracts or details if the purchaser is required to take over these payments

 

  1. Staffing/Roster
    • Details of management and staff (permanent, casual, apprentice, trainee).
    • Working hours.
    • Years of service.(Details of any long service leave, holidays or entitlements required to be paid)
    • Working hours by owner (s) or family if applicable.
    • Include Job Descriptions and pay rates. (Required for all owners and employees – if applicable)