Buying a Business

People purchase businesses for a variety of reasons. Some of these include:

Financial security
Job stability
A legacy to pass on
Secure retirement
Huge money earning potential
Freedom of being your own boss

If you are new to the business game, you might want to consider the following points:

Advantages of buying over starting fresh
Is the business suited to your skills and background?
Employee information
Costs involved
Profit & Loss of the business
Pre-existing lease agreements

As mentioned above, there are many costs involved with the purchase of a business. It is of utmost importance that as a buyer, you must consider all possible costs involved before taking the plunge. Some of these costs include:

Total purchase price
Stamp Duty
Accountant's fees
Solicitor's fees
Bank Interest
Stock
Outstanding debts

There are also many other responsibilities concerned with owning and operating a business. These include:

Payroll
Training
Debt Collection
Superannuation
BAS & TAX
Competition
Advertising

If all of this seems complicated, don't be put off - owning and operating your very own business can be the best decision of your life if it is planned for. This is where the East Coast Business Brokers team comes in.

ECBB offer's a full end to end service, of careful and detailed planning from beginning to end. We will meticulously monitor every step of the process to ensure our clients a smooth and efficient transaction every time.