Buying a Business
When buying a business there are many issues you need to consider.
These are just some of the steps our dedicated commercial team undertake to make this process easier for you:
- When you have an interest in purchasing a business we will conduct an enquiry with the landlord as to whether there will be any objection from them:
- To grant you a new lease (if there is no lease);
- To grant a consent for the assignment of the existing lease.
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If the business you are interested in is a franchise business, we will contact the franchisor about the terms and conditions of the franchise agreement. We will provide you with advice on the franchise and any fees and charges relevant to the franchise.
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We will obtain from the vendor the trading figures of the business for the last two years and a copy of the lease for perusal and advice to you.
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We will draft the business contract for you with all the appropriate conditions to protect you.
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We will act on your behalf to undertake all investigations of the lease and service contracts, or any agreement that may affect the income of the business within the due diligence of period.
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We will undertake all necessary searches to ensure all charges and liabilities related to the business are being discharged at settlement.
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We will undertake searches from all relevant authorities for any requisitions from, for example, the Council (regarding the Health Permit), Workplace Health & Safety and also Fire Safety.
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If you are obtaining finance, we will ensure all mortgage documents are signed prior to settlement and provide the relevant contact details to enable us to arrange settlement on your behalf. We will also speak with you concerning the funds to be provided at settlement.
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Our team will work with you and your other service providers every step of the way to ensure that your transaction is completed smoothly.
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