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Yes. It is very popular for business owners to purchase a business under management. Especially if they are entering a new industry or have other business ventures. Buying a business under management means there is a team in place that understands the business operations. You can search on Bsale these types of businesses by typing ‘under management’ into the keyword section. You can then narrow by location, category or price. It’s a good idea to save search results and relevant listings so you can easily locate and compare.
Yes. It is possible to buy a business with a residence attached; it may be freehold or leasehold. You will find several businesses in country or regional towns with a residence attached, for example purchasing a petrol station, tourism business or restaurant. Having a residence included in the business sale makes it easier for the buyer to relocate to a new area. You can search on Bsale these types of businesses by typing ‘residence’ into the keyword section. You can then narrow by location, category or price. It’s a good idea to save search results and relevant listings so you can easily locate and compare.
Buying a business with no money means a few things. Firstly, the business being sold may have seller's finance included, so you pay the seller back as you operate the business. There is usually a ‘buy-out’ phase where you pay it off over a certain period with income from the business. The money will still be paid. Secondly, obtaining a loan from a mortgage company or bank to buy the business; this will still need to be repaid. Thirdly, buying a business that isn't very profitable, and the owner wants to offload their liabilities and is willing to sell for a minimum. This type of business is usually struggling and may have debts. It takes a lot of business experience to determine if it is fixable or a lost cause.
So you can buy a business with no money, but there are still obligations to repay any money you borrow or to fix any liabilities you may take on. Owning a business is a lot about managing cash-flow and budgets. The idea of owning a business always sounds fun, but it's also about your capabilities, experience and how much income you want to generate. Unlike owning a home, a business signs you onto liabilities such as leases, stock, payroll, taxes etc.
Finding a small business for sale is easier on Bsale. We have been assisting small business owners and brokers in advertising opportunities for over 20 years. The first step is to define what is a small business. Some say it is a business under $50,000, others say it’s under $2,000,000, others say it’s a business with less than 20 employees. The best place to start the search is to type in a keyword or location and hit ‘go’. You can then narrow results by a price bracket that is relevant to you. It’s a good idea to save search results and relevant listings so you can easily locate and compare.
Obtaining a loan can be via sellers finance, a mortgage with a bank or lender, investor finance, family or friends. All of these options come with positives and negatives. Always remember obtaining a loan requires it to be repaid. You want to ensure the business you are purchasing has a good ROI so you can make loan repayments and generate an income for yourself. You need to have a solid understanding of the financials and your commitments. Professional advice from a business broker, accountant and mortgage broker is very important.
Purchasing a business in Australia is made easier with the assistance of professionals. Once you have located a business you are interested in; the seller may request you to complete an NDA. Once you have provided this and received some more information, you may offer to purchase the business where a deposit will be required. You may then begin the process of due diligence, which allows you to analyse the business from multiple angles to assess its health and potential. You will also get to review the Contract of Sale for the business and may want to negotiate on the terms of the sale. Once both parties are happy, exchange and settlement can occur. This is a rough guide, as this process may vary by state, legal team, broker and seller. Buying a business can be a lengthy process. There are many elements to assess, which is why it's extremely important to obtain professional advice. Always obtain independent legal, financial and business advice.
As an investor, you are probably looking to generate more income than you can in your savings account, property investments or superannuation. The benefit of purchasing a business as an investment is it has the potential to grow and generate a lot of income. You will most likely be looking at mid-market businesses valued at over $1,000,000 with systems and processes in place. You will need to be confident the business will generate a healthy ROI. Depending on your business experience, there are many opportunities available. The best way to find these businesses is to search by price and location.
It's a very exciting time when you start looking for business opportunities! The first step is to assess yourself. There are thousands of businesses for sale in over 20 industries. You want to be sure you know exactly what you are capable of and what your expectations are. Business ownership can give you a lot of freedom and a very good income, but it does come with a lot of hard work and frustrations. You will rarely hear a business owner say, “it was an overnight success”.
Once you know what you want in terms of industry, income and price point, you need to start looking. Businesses are listed for sale daily, maybe there is nothing for you right now, but next week the perfect opportunity may be listed. So save your search and listings so you can run comparisons. The biggest indicator of a successful business is how much money it is generating to the owner. Always ask for professional advice when buying a business, and be sure to conduct proper due diligence.
There is a common saying; the fastest way to grow your business is to buy the competitor. A merger or acquisition is a great option for businesses looking to expand and want to access more market share, new supplier chains, new distribution networks or simply remove a competitor from the market. The best way to start this process is to search for a business for sale in your industry and save the search. Every time a new business is added matching your criteria, you will be notified, placing you in front of the queue for new opportunities. Be prepared so you can move quickly and expand your business. Another option is to hire a business broker who will actively approach competitors with a plan of acquisition.
Good businesses for sale are those that will enable you to get a good return on your investment, known as ROI. You want to know how long it will take you to get your investment back and how much money the business can generate, and the potential it has to grow. In Australia, more than 60% of small businesses close within their first three years. The longer a business has been established and is over the ‘3 year hump’, the more likely it is to have good systems and processes in place. This doesn't mean that a business under three years isn't a good buy, but having a financial history is a good indicator of the businesses success and potential.
The most successful businesses are those that make money! 98% of businesses in Australia are small businesses and classified as employing less than 20 people. What is a good business for one person may be a terrible business for another. Several factors can be taken into account when considering whether a small business is successful in your terms, such as work/life balance, income, location, passion, growth potential, team members, creative ability, and more. Finding a successful business depends on the buyer - their needs, experience, and ability to run a business.
These terms are usually seen in the pricing of a business.
+SAV means ‘plus stock at value’. There are additional costs involved to purchase the stock. This is common in business sales, such as supermarkets. Usually, a stocktake is conducted close to settlement to confirm the price. Initially, the seller will usually provide an estimate.
WIWO means ‘walk in, walk out’. Basically, on the day of settlement, the current owner walks out, and the new one walks in with everything ‘as is’. There is no stocktake performed. This is common in businesses such as Cafes.
POA means ‘price on application’. You will need to contact the seller to find out the price. In Australia, prices do not need to be supplied on business sale listings.
Going concern is a sale that includes everything necessary for the continued operation of the business. The seller will carry out the business operations until the day of settlement.
When you begin your business journey, you may want to start small. Many first-time business owners are nervous about the commitments they make and whether they have the capabilities to run a successful business. The best type of business for beginners will include training; it may be from the current owners or as part of a franchise. Training will help you to understand the business and the daily operations of the business owner. There are so many amazing business communities, business groups and coaches who can help you run a business. Becoming a business owner means continual learning and growth; you will always find new ways to do things. It's important as a new business owner to understand financials and how to manage your cash flow and budgets.