Are you ready to take the leap into business ownership but don’t know where to start? In this episode of Business Sales Australia, host Sue Blatchford, co-owner of SBX Business Brokers, shares practical advice for navigating the process of buying a business.
With over 30 years of experience in the industry, Sue walks listeners through the key steps to make the journey smooth and successful. From determining what type of business suits your skills and lifestyle to understanding financial terms like EBITDA and goodwill, this episode is packed with actionable insights to help you buy a business confidently.
Introduction to Business Sales AustraliaWhy buying an established business can be a smarter choice than starting from scratchWhat Sort of Business Should You Look For?Aligning your skills, experience, and lifestyle with the right businessHow Much Can You Afford?Understanding the costs, including Stock at Value (SAV), legal fees, and lease bondsFinance – Have a PlanOptions for funding your business purchaseLocation, Location, LocationWhy location is a key factor in a business’s successWhy Experience CountsBuilding confidence with landlords and lenders through industry expertiseResearching the MarketReviewing asking prices, rental costs, and lease termsKey Terminology Explained:WIWO, IM, EBITDA, SAV, Goodwill, and moreThe importance of due diligence, legal support, and preparing a formal sales adviceWhy cash flow is crucial for a smooth transition into ownershipSBX Business Brokers Website: https://www.sbx.com.auComplimentary Beginner’s Guide to Buying a Business: Download HerePopular Australian Business-for-Sale Websites: Seek Business: https://www.seekbusiness.com.auEden Exchange: https://www.edenexchange.comBSale: https://www.bsale.com.auAnyBusiness: https://www.anybusiness.com.auReady to Buy Your Business?
Buying a business is a big step, but with preparation and expert guidance, you can step confidently into ownership. For more insights, tools, and resources, visit https://www.sbx.com.au.
And don’t forget to subscribe to Business Sales Australia for more practical tips on buying and selling businesses.