Buying a business is a big decision

When looking to buy a business, it's important you know what is involved and where to obtain professional advice from a RE/MAX Business Broker.

• Make sure you understand what you are paying for
  Obtain a detailed explanation of what is included in the sale price, including physical assets such as plant and equipment, stock, premises and vehicles, and intangible assets. You should also obtain a comprehensive financial history of the business to ensure you are aware of what you are purchasing.

• Evaluate the goodwill
  Goodwill represents the ‘potential future earnings’ that the business is likely to produce. As a result of the previous owner's efforts to generate a profitable revenue stream, goodwill compensates them for selecting the appropriate location, recruiting and training staff, establishing supplier contracts, developing a credible and trusted brand, as well as developing a customer base.

• Check the lease
  If you are buying a business that operates from a specific location, make sure that the lease for those premises can be reassigned and that the terms are acceptable.
  
  
  Your business broker will ensure you go through the process of purchasing a business from due-diligence, negotiation, conditions being met of the seller, the business going unconditional and finally the settlement.