(PR.co.nz) A city of energy, sophistication and innovation, Melbourne is the capital city of Victoria, Australia. Multicultural and sports-mad, Melbourne is Australia’s second largest city and is reported to be the country’s cultural capital, with Victorian-era architecture, beautiful parks, enviable healthcare and location next to one of the world’s best coastal drives. Melbourne is home to almost 4.25 million people, and has been ranked by the Economist Intelligence Unit as the world’s most liveable city making it a great place to set-up or buy a business. No wonder so many New Zealanders are moving to Melbourne every year.
If you are a Kiwi looking to invest in a Melbourne business check out the Business for Sale Melbourne opportunities work out what grabs your interest, and choose a business you can get excited about as it’s not always plain-sailing and this will help you stay energized and engaged. Ask yourself if you have the necessary skills and experience to run such a business? And do you have a vision of where you will take this business?
Buying an existing business or franchise Australia opportunity will provide you with the immediate benefit of cash flow, the lifeblood of any business. Beware, however, that the current profitability is not always guaranteed once it changes hands.
Before buying a business check it out thoroughly. Find out all you can on the state of the industry. Is it growing, mature or in decline phase? What is the business’ target market? Who is the competition and how does this business stack-up against their strengths and weaknesses?
Is it well located for the market, with a secure and favorable lease? Are key personnel likely to stay with the business when it’s sold? What about the company’s history and reputation?
Most importantly; is it profitable? Do its products or services have a future? And are its business processes and systems worth the money that is being asked? Determine how much you can commit to buy the business.
You should only buy a business after due diligence, which means requesting and analysing all the information you need to decide whether to buy and how much the business is worth. The asking price does not always reflect the real value of a business and prospective buyers should always conduct an independent valuation. Use specialists to help with this process.
In Victoria, under the Estate Agents Act 1980 – Section 52, the seller (or an agent acting for the seller) of a business or part of a business being sold for $350,000 or less (excluding stock), must provide a prospective purchaser with a Vendors Statement (also known as a Section 52 Statement). Review this Statement carefully on key points such as profits, expenses and stock, and request additional information if need be.
Do your homework and engage a consultant or accountant who is experienced in dealing with similar businesses to make an independent assessment of the business before you buy.
For more information on Melbourne Businesses for Sale in Victoria check out www.aubizbuysell.com.au for resources and business listings.
Media Release on 21 November 2013 by AUBizBuySell
Media Contact
Richard O’Brien, AUBizBuySell
Email: richard@nzbizbuysell.co.nz
Phone: + 64 3 337 0005
Website: http://www.aubizbuysell.com.au/