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Buying a business | Selling a business | Growing your business | News & Trends | Business Broker Tips
Buying a Business VS. Starting From Scratch
Want to be your own boss, work for yourself, establish a business and watch it grow? Then you’ve probably asked yourself this question already… Should I buy a pre-existing business or start from scratch?
It’s a valid question and an important one at that – as there are pros and cons to consider for each option. So, make things a little easier to digest, we figured it best to break them down for you!
5 business ideas that went from zero to hero
These five business ideas resulted in enormous, somewhat unprecedented growth! Let’s take a look at Facebook, Instagram, Groupon on more to learn about business growth!
A guide to selling your business
So, you’ve decided to sell your business. You want to change your lifestyle, spend more time with your family, grow your wealth in a completely different direction… Whatever the reason – selling your business is the means to get there. But you’ve never done this before! So where do you start?
Here’s a handy guide to selling your business from the start to the very end (or shall we say, ‘new beginning’.)
Assessing your business through your client’s eyes
When we spend most of our time working “in” our business, innovating, fixing problems, creating new ways to be profitable, managing staff, dealing with clients – it’s hard to zoom out and see what our client’s see. But this is the most important perception when it comes to analysing and assessing your business and then be able to work “on” the business.
Restraint of trade / non-compete clauses explained
When selling a business, a restraint of trade/non-compete agreement is crucial to give the buyer peace of mind when taking over the reins. Why? Let us explain..
Buying and selling during a recession
COVID-19. A pandemic that became a daily topic since early 2020 has rocked the world. Now, in 2021, we are still under the firm grasp of COVID but what does that mean for our business?
Why use a business broker?
In a world full of DIY options, ‘do it yourself’ business buying and selling sound appealing to the ever-learning, multi-tasking business owner that you are. You’ve managed to establish and grow a business of your own, maybe from scratch, maybe from one that was previously showing little profit! Either way, you’ve got this… right? Unfortunately, no. We hate to be so blunt, but there is a reason why Business Brokers exist. Actually, there are many reasons! Let’s outline a few to break the ice.
Business Broking – Myth Buster Edition
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5 tips to create a successful hospitality business
Here are 5 tips on making your hospitality business the best it can be, and a successful business in its own right.
Q&A with Rad Benicky
We recently sat down with Core Business Broker and knowledgeable Businessman, Rad Benicky to find out what makes him tick and learn about his key business tips!
How to turn your side hustle into a fulltime business!
For many, 2020 has been a year of experimentation, hobbies, passion projects and side hustles. Working from home has meant a shift in business activities, a new normal and one giant brainstorm session on how to make money during a pandemic! But whether your side hustle was born out of necessity or simply ambition alone, it takes work to get an idea off the ground and into the sky. So, where do you start? Let’s take a look.
SEO – What It Is And How It Can Drive Sales
SEO stands for ‘Search Engine Optimisation’, which is the process of increasing your website traffic (how many people click on your website) by boosting your ranking on search engines, such as Google. But how does it help business sales? Let us explain…
Automation – How it could save you time and money
For many buyers, the prospect of buying a business can become daunting when thinking of the handover process. There’s a lot to learn, a great deal of transition and simply not enough time in the day (or at least it seems!). The bottom line is, we live in a modern world fuelled by technology, so whether you’re hoping to sell or not, implementing automated processes within your business could save you both time and money – and who doesn’t want more of those!?
Valuations in a Covid-era
The pre-COVID methods of valuing a business affected in these times, needs re-thinking. So how do you value a business in this covid-era? Let us explain
Supporting Small Business During The Covid-19 Pandemic
It’s no surprise that the coronavirus has impacted us all, in various ways. Whether you’re a business owner, an employee or someone looking for work, you’ve no doubt encountered many speed bumps so far this year, with potentially more to come. The sad truth is that without our support, small Australian businesses won’t see the…
How to Advertise in 2020
Advertising has grown to become an intricate machine, where in-depth targeting is used to show your ad to the people who are most likely to respond to it. Sure, an ad in the paper was simple and easy, but with an ageing population, the youth of today are less likely to read the classifieds and more likely to click on an appealing ad when they are scrolling through their social media platforms.
Creating a Healthy Culture in the Workplace
Whether you’re a new owner, manager, or have had the same business and team in place for decades, there’s nothing more productive than a positive workplace. On average, each Australian spends 40 hours per week at work (give or take, depending on their role and industry). This means that each of us spends approximately 16 years of their life at work (and we mean 16 straight years of 24/7 work! Wow!) So whether you have changed jobs or stuck with the same business for your entire career, it’s safe to say that creating a workplace that your staff enjoy coming to each day is a pretty high priority when it comes to staff productivity, retention and happiness. If it isn’t, it should be!
Creating a Business Destined for Success
What came first? The chicken? Or the egg? Do you start with a business idea? Or do you look at the market and see what would work well? Here’s what works & why.
Can Your Business Work Without You?
As part of your succession planning, ensuring your business can operate and succeed without you involved in the day-to-day activity is essential. This allows for better work/life balance whilst also proving to potential buyers that the business can easily be transferred from owner to owner, without disrupting operations and profitability thereby ensuring that the goodwill…
Things You Need To Know About Today’s Market
If you were thinking about selling your business earlier this year, you may have found yourself second-guessing your decision in the past few months. Covid-19 has disrupted our world; our share market, economy and every Australian small business has felt the pinch in some way, shape or form. Being cautious in times of large-scale change…
Retaining Staff During a Business Sale
Losing key employees during the business sale process could both damage the business before the successful sale is finalised, or potentially stop the business sale from being completed. There are a few main reasons as to why staff leave a business when they hear it is for sale. These include: Job security – They fear…
How to Create an Eco-friendly Workplace
As our world continues to strive towards a more environmentally friendly future, reducing your carbon footprint and living a more sustainable lifestyle becomes the goal for many. But how do we make a big environmental change? Can little old me make THAT much of a difference? This is where businesses can lead the way. If…
How to Adapt Your Business During Covid-19
2020 has no doubt been the most challenging year for many of us, especially for business owners. With few exceptions, most industries have been greatly affected by the Covid-19 crisis, with many facing temporary or permanent closures as a result. The lucky ones have been forced to adapt to a new way of operating, due…
Coronavirus – Don’t waste this downtime
To our valued customers, In light of recent announcements, we have closed our physical office doors temporarily to help protect the health and safety of our staff, customers and the broader community. We thank you for your ongoing support and want you to know that we are thinking of you in this difficult time. While…
The Importance of a Non-disclosure Agreement
A non-disclosure agreement otherwise known as a confidentiality disclosure agreement or NDA/CDA, is a legally binding document that safeguards business owners during the sale of their business. When selling a business, part of a potential buyer’s due diligence is to investigate your business from a to z; examining profitability, financial statements, staff rosters and often…
Business Sectors – Which Ones to Watch in 2020
Thinking of buying a business? Or maybe starting one from scratch? Either way, understanding the industry is key to growth, profitability and success. So we sat down and dived into the latest IBIS World report on industry growth in 2019 and 2020. The results? Very interesting. When it comes to business sectors, there’s a definite…
Grow Or Be Left Behind – Is Your Business Keeping Up With The Trends?
Times are changing. We are well into an era that has a strong online presence, which means that businesses that previously survived quite well with nothing but a brick and mortar store, face the reality that they need to adapt and grow, or simply be left behind. For those business owners that have put off…
What is ‘Goodwill’?
According to the Oxford Dictionary, Goodwill is: “The established reputation of a business regarded as a quantifiable asset and calculated as part of its value when it is sold.” What does that mean when we talk about business? A business’ goodwill can be viewed somewhat as their reputation. Goodwill isn’t a tangible asset. Although it…
The Importance of Intangible Assets
According to business sales data (BIZSTATSTM) approximately 60% of a business sale price is allocated to intangible assets. This figure varies greatly from business to business, however, the value of intangible assets in a modern age is increasing. Let us explain. What are ‘intangible assets’? Intangible assets are assets that don’t physically exist. I.e. They…
Why Buy a Business?
There are many reasons to purchase a business and depending on who you ask, those reasons rank differently because your motivation behind buying a business ultimately comes down to what you want in life. Is it profits? Freedom? Alongside the potential risk and the hard work involved in owning your own business, owning your own…
Adding Value to Your Business Before it’s Time to Sell
A successful business could change hands many times during its life, whether to family members or unrelated parties who are passionate about continuing what you started. When it comes time to sell your business, it is important to present it to potential buyers in the best possible light. This doesn’t mean just looking good on…
Valuation vs. Appraisal – Which One Do I Need?
When you approach the end of your business ownership journey and are preparing to sell, you need to determine the market price of your business. A business’ market price is dependent on current market conditions, it’s history of success & profitability, future profit forecasts, goodwill, stock, assets and much more. Determining the ‘value’ of your…
Building a Business Worth Selling
Building your own business takes years of sacrifice, hard work and often delayed earnings. Selling your business for the right price, is a chance to reap the substantial rewards for your years of hard work and associated risks. Key things to think about when starting your business Structure – Getting the business structure right could…
Family Business – Is Your Succession Plan in Place?
Succession planning, otherwise known as creating an ‘exit strategy’ is both an important and beneficial planning tool for anyone owning their own business. However, for a family-owned and operated business, there are even more considerations than normal; as instead of setting your business up for a new owner to take over, the plan may be…
Tax Implications When Selling a Business
When selling a business there are many considerations that need to be taken into account. The sale of arguably your largest asset can be an emotional roller coaster, hence being well prepared will assist you through the entire process. Prior to listing your business for sale, it is vital that all tax implications are understood…
Understanding Put and Call Options in a Business Sale
Put & Call Options are normally associated with the purchase of shares in a company when the current owner agrees to sell a portion of the shareholding in the business to a new Buyer, while agreeing to remain as a working shareholder in the business for an agreed period of time and on agreed terms….
Instant Asset Write-Off: How Does This Affect Me?
On the 2nd of April 2019, the threshold for small business instant asset write-off increased from $25,000 to $30,000. Announced by the Government, this increase is available to all ‘small businesses’ with an aggregated annual turnover of less than $10 million. What is instant asset write-off? Businesses that meet the criteria of a ‘small business’…
Sale of Shares Vs Business Sale; Which Is Best?
Buying a business can be an intricate and in-depth process. There are many ways a business can be bought, sold or the ownership divided between several parties. A business sale occurs when a business is sold in full, allowing full ownership to be transferred from the previous owner to the buyer. In cases where the…
Things to Look for When Selecting Your Business Broker
Some decisions in life shouldn’t be made quickly and carelessly. Finding the perfect wedding photographer for example, or even choosing to propose for that matter! Just as those decisions could change the course of your life, selecting the right Business Broker to sell your business can have ripple effects that can either grow into great…
When Is the Best Time to Sell My Business?
For most business owners, selling occurs out of need as opposed to want. You may need to sell due to financial, health or family reasons, which unfortunately dictate one of the most crucial planning points of a sale, the question of ‘when’ it occurs. Ultimately, if you are in the position to make a clear…
The Role of a Business Broker
Buying and selling businesses can seem straight forward, especially when looking in from the outside. However, there are many things to consider when doing so, which we covered in our previous blog ‘Understanding the Business Sale Process’. Your Business Broker becomes your mentor throughout your sale process. Whether you are the buyer or seller, the…
Getting to Know Core Business Brokers
AN INTERVIEW WITH PETER GOLDING AND ROY LEVY Getting to know your Business Broker is an important part of your decision-making process when looking to buy a business or beginning your sale journey. Here at Core Business Brokers, we pride ourselves on our customer relationships, professionalism and the importance we place on trust, honesty and…
Understanding the Business Sale Process
You’ve decided to sell your business, but this terrain is unfamiliar. What is involved? Who should you contact? What does the process entail? In a business sale, there are many factors to consider, so we decided to outline the process, allowing you to begin your business sale journey with a better understanding of the steps…
Planning Your Exit Strategy
Planning your exit strategy, otherwise referred to as your ‘succession plan’ can seem like a daunting task. However, it is an important factor that should be planned well, before the need arises. Think of an exit strategy like any other important planning task – you have a big event on and need a specific outfit,…
Thinking about Selling your Business?
You’ve worked hard in your business, spent long hours building it up and now you’re ready to move on. If you don’t have time or passion for it anymore, or you need a lifestyle change, when you are ready to exit we are here to help. Just like running your business takes years of experience…
Buyers Database
All members of our buyers database are the first to hear about any new business for sale. Once a new business is listed for sale Core Business Brokers immediately emails to our exclusive business buyers database alerting each member of the new opportunity. Stay in front of the market join our expanding list of business…
Making an Offer for a Business
Making an offer for a business can be a daunting process. Please read the below on how to make an offer and what you need to keep in mind before making the offer. Before Making an Offer The buyer should make sure that their finance is in place before an offer is made. When buying…
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Buying a business | Selling a business | Growing your business | News & Trends | Business Broker Tips
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