Due Diligence on Business Purchase Sunshine Coast & North Lakes

When it comes to buying or selling a business we will help you every step of the way. Total Business Partners will make sure financially that the new business is the right business for you. We will identify any issues that you might come across in the future once purchased. Above all, we will make sure as a new business owner that all financial information given to you about the business is correct.

Please visit our pages for due diligence on a business purchase in Brisbane, Redcliffe and North Lakes.

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What is Due Diligence?

When looking to purchase a business or sell your own, due diligence is one of the most important aspects of the process. Without performing due diligence in the correct manner, you could be left with unforeseen problems or unexpected liabilities.

Essentially, due diligence is the research that is conducted about all aspects of a business prior to purchase. This includes looking into the finances, operations, potential for growth, current market and other areas that affect the business as a whole.

You may be under the impression that in this case, due diligence is only important for the buyer; however, this is incorrect. Sellers must be prepared for buyers’ questions and understand the legalities surrounding the sale, otherwise, there is potential for the deal to collapse.

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Key elements of Due Diligence when selling a business

When it comes to due diligence on the part of the seller, it is vital to keep in mind certain aspects. The following factors are key when it comes to selling any business:

  • Legalities
  • Disclosure
  • Limiting unwanted surprises
  • Being conscious of “deal fatigue”

Preparing your business for sale

When deciding to sell your business, the best thing that you can do is to start preparing early. Once you have decided to sell your business, you must be prepared and begin positioning your business to be ready for sale. Preferably, this process of setting up your business for a sale should start years before the transaction; however, that does not have to be the case.

At Total Business Partners, we can help you to make the right changes to your business before you put it up for sale. Furthermore, we will help prepare you for interactions with prospective buyers and take steps to achieve the best deal for you.

Key elements of Due Diligence when buying a business

When you are looking to buy a business, the due diligence process should begin long before there is any potential deal. Some of the key aspects to look at when researching a potential business purchase include:

  • Finances
  • Operations
  • Gaining full disclosure
  • Current market (and potential volatility)
  • Potential for growth

Preparing to purchase a business

There are lots of different areas to conduct due diligence in before having the first meeting with an owner (or representative) about purchasing their business. You should determine your budget, research their finances, look at how the business operates and the business structure, estimate growth potential, get a business valuation and more. Additionally, this should be done with multiple similar businesses to get a good comparison.

At Total Business Partners, we can do all of the leg work for you. Due diligence is one of the most popular services that we offer and we have helped many clients find the right deal for them. It can be stressful and time-consuming to research many businesses in detail, especially if you have other important commitments to attend to. Allow our professional team to do the due diligence for you.

Due Diligence on Business Purchase FAQs

What is deal fatigue?

The term “deal fatigue” refers to when a prospective buyer pulls out of a potential deal due to the process taking too long, often because of complications or ongoing disagreements.

Why is it important to be transparent as a seller?

As much as it may be tempting to hold back information about your business that could have negative connotations as a seller, the vast majority of the time, transparency is more important.

Offering full information freely to your potential buyer sends a positive message and shows that you are dealing in good faith. This way, you have a stronger bond with your buyer and a deal may be more likely to go through. If potentially negative information comes to light later down the line, your buyer may pull out due to a lack of trust rather than the negative information itself.

Why choose Total Business Partners for due diligence?

The team at Total Business Partners are experts in due diligence and can help you to get the best deal possible whether you are selling or buying.

We want our relationship with you to be long-term, so you can be sure that our team will offer a comprehensive service. If you are looking to purchase or sell a business, please get in contact with our friendly team today.

Sunshine Coast Due Diligence on Business Purchase location

North Lakes Due Diligence on Business Purchase location

Take a look at some of the other services that we provide in Sunshine Coast to facilitate success

At Total Business Partners, we are driven by the success of our clients. We are Xero certified accountants, well-versed in structural business planning and financial management, and always look to provide the best standard of service. With this in mind, we have chosen to offer the following comprehensive services to help Sunshine Coast businesses thrive. We also provide services to the wider Brisbane region, including North Lakes.

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