Your Business Plan Part 5: Market Research
If you’re considering purchasing a business, taking the time to create a thorough business plan is a wise first investment. For some business owners, they may consider working on this document only after the fact, but planning your purchase with your business plan beside you means that you’ll be able to hit the ground running, […]
Your Business Plan Part 4: SWOT
The cornerstone of success for any business is structured and strategic planning (SWOT), and your business plan is a critical component of this. As you work through your business plan document, you will gain a detailed understanding of what’s working, and what could be improved. Every business will have its own unique set of challenges and […]
Your Business Plan Part 3: Your Team
To prepare yourself for purchasing a new business, you’ll want to be well informed of all the ins and outs. Your business plan will bring together this information in a logical and clear structure – it’s the document you’ll be able to reference before, during and beyond the business purchase. The 3rd section of your business […]
Your Business Plan Part 2: Business Strategy
The process of completing a business plan empowers you to articulate all key aspects of the business you’re looking to purchase, and an essential part of this document is your Business Strategy. A straightforward Business Strategy is the 2nd section within your business plan, it will acknowledge the areas of the business that need improvement, […]
Your Business Plan Part 1: Executive Summary & Background
A comprehensive business plan will prove invaluable whether you’re in the research phase or close to finalising a purchase. A thriving business will always have a detailed business plan, supporting its longevity and profitability and assisting in obtaining finance for the initial purchase or future expansion. By putting this document together, you’ll view your prospective […]
How To: Tips for Buying a Business
Buying an existing business is a fantastic way to become a business owner. The main reason most people buy a business, rather than starting one, is for the established infrastructure and ongoing cash flow. People buy franchises for similar reasons – they usually come with supplier agreements and a proven system of what works and what […]
Should You Sell Your Business and Property Together?
Top Takeaways: -A lot of small business owners have a self-managed super fund that owns their property -A lot of buyers are looking to purchase both a property and a business -The key is to have a two-pronged selling strategy Hardly a day goes by that we don’t get a call from a business owner […]
Sell Your Accommodation Property with The Help of Specialist Accommodation Brokers
Accommodation properties such as hotels, backpackers, motels, resorts, cabin and caravan parks, serviced apartments, management rights, etc. require an expert to help market them, find their right buyers, and manage their successful sale. Hence the presence of specialist accommodation brokers. If you own such property in Australia and are intending to sell it, you need […]
Franchisor Exit Strategy Part 1: Sell to a Competitor
Franchising is a unique marketplace. We’re a pretty small community. Most franchisors are still owned by the founders – but what happens when a Franchisor wants to exit their business – what is a Franchisor Exit Strategy? Every franchisor has competitors in some way. Maybe your competitor is another franchise brand, or it’s an […]
How To Sell My Business Quietly
As a business owner, you may prefer to maintain confidentiality when deciding to sell a business. This may be because you value your privacy and because your customers, suppliers or staff may react unfavourably if they find out you are moving on. If you are one of those business owners who ask yourself the question “How […]
