Buying a Business in Australia
Are you thinking of buying a business that is already established? Firstly, you need to carefully look at the pros and cons. Pros include a good history with customers, whereas cons can be things such as a bad perception of the business by the public or being charged a high price for goodwill that simply isn’t there.
When looking into buying a business you should:
- Make sure the business suits your personal knowledge and skill level
- Know the reasons for sale
- Make sure there is evidence of steady work flow
- Know who your competitors will be
- Check out if they have any WorkCover claims against them – past or present
- Get assistance from accountants and lawyers
You also get to know about the actual operations of the business, this includes:
- Profits
- Sales
- Costs
- Assets
- Liabilities
- Staff
Here at The Quinn Group, our years of experience in taxation, law and accounting will ensure that you get tailored advice on how to start your business in Australia. If you would like to speak to a member of our team about starting up a business in Australia please contact us on +61 2 9223 9166 or submit an online enquiry.
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The Quinn Group operates Quinn Consultants, Quinn Lawyers, Quinn Financial Planning and Quinn Financial Solutions. The Quinn Group provides related information in regard to legal, accounting and financial planning issues. Liability limited by a scheme approved under Professional Standards Legislation* *other than for the acts or omissions of financial services licensees.