{"id":109,"date":"2018-03-06T22:37:34","date_gmt":"2018-03-06T22:37:34","guid":{"rendered":"http:\/\/192.168.1.162\/nzbusinesssale\/?page_id=109"},"modified":"2018-04-12T11:36:29","modified_gmt":"2018-04-12T11:36:29","slug":"buying-tips","status":"publish","type":"page","link":"https:\/\/nzbusinesssale.co.nz\/nz\/buying-tips\/","title":{"rendered":"Buying Tips"},"content":{"rendered":"
<\/div>

Buying Tips<\/strong><\/p>\n

Purchasing a business without a business plan is a risky step, so your first step should be to talk with a broker analysis to understand your financial position. After that, our brokers will be happy to talk with you as this will help us to meet your needs and help you purchase your desired business.<\/p>\n

Consider your start-up options
\nDiscuss with your broker your background, experience, and credentials so they can match you with businesses according to your preferences. There are a wide range of options, including franchises or family businesses. You should also consider whether the business should be purchased on your own or with a partner.<\/p>\n

Buying an existing business
\nWhen purchasing an existing business, you might also be purchasing or taking over the following:<\/p>\n

*Goodwill
\n*Material assets, for example equipment, the premises, furniture and fittings etc.
\n*Inventories
\n*Employees
\n*Legal and contractual rights
\n*And any other relevant property
\nWhether the purchased business will include these is something to negotiate with the vendor. You may also want to take note of why the business is for sale and assess how valid these reasons are. It can be helpful to speak to vendors who have handled the type of business you are intending to purchase.<\/p>\n

Feasibility studies
\nCreate a shortlist of potential businesses and work out the feasibility and potentials of each business. To figure out a business\u2019 desirability, look into the following areas:<\/p>\n

The business idea including inventions and opportunities
\nThe risks and responsibilities involved
\nWill you be fully committed to the business?
\nWhat is a realistic expectation of the outcome from purchasing this business?
\nIs the business well-suited and in accordance to my personal values and life goals?
\nChoose the right business location and site
\nDecide on your preference of location and site, for example, is it close to your house, in small town main streets, regional shopping centers, the CBD, local shopping centers, highways, industrial areas, small shopping malls etc. It is advised that you attend shop visits to visualize and observe performance, conditions of the premise, suitability to your needs, volume of passing traffic, accessibility, expansion potentials as well as how the business operates. This will assist you in your evaluation of the business and estimate an expected value. It will also provide you with an idea of the size of the local market in the area is and its potential growth.<\/p>\n

Professional help & creating a network of advisors
\nSeek professional advice from solicitors, accountants and brokers to attain the best results. All of our brokers are seasoned professionals, who have access to an extensive network of contacts, and understand all aspects of the buying process. They can assist you in finding a suitable team of advisers by recommending experienced professionals who have dealt with numerous business transitions similar to yours.<\/p>\n

Contractual and legal arrangements
\nDo your own research and make sure you understand your rights and responsibilities. It is also important to understand the business structure in which the business comes under, i.e. a sole proprietor, partnership or company. This will enable you to better plan staffing and other business activities.<\/p>\n

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Buying Tips Purchasing a business without a business plan is a risky step, so your first step should be to talk with a broker analysis to understand your financial position. After that, our brokers will be happy to talk with you as this will help us to meet your needs and help you purchase your […]<\/p>\n

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