The Blue Store

The Safety Shop

Marina Photographics

Hervey Bay Roofing

HBTC

Kasa Couriers

O'Rileys Pizza & Pasta

Fair Dinkum Homes & Sheds

Ranbuild Bundaberg

Signature Uniforms

Critical Response Traffic Control

Riverview Motel

Badger & Brown Burgerie

Kebab King

Foodworks Torquay

Sauer's Clothing Supplies

Bilson's Corner Store

Hoffie's

Wide Bay Burnett Distributors

Extra Care Carpet Cleaners

Experienced

Brendon and Stuart have over 20 years combined experience selling businesses in Queensland.  With an impressive depth of knowledge across all industry sectors, they have the skills to negotiated and transition your business successfully.  You will be in safe and steady hands with our team.  We can be trusted to get the job done.

Professional

We don’t cut corners when it comes to presenting our client’s businesses for sale.  That means accountant’s figures, up-to-date schedules and lease information, professional photos all professionally packaged for electronic presentation.  Our whole system is Cloud / Web based making it easy for buyers to access and interpret.

N

Qualified

Our agents are fully qualified, licensed and insured to sell both business and freehold property in the State of Queensland.  We also hold Master Degree level qualifications in business and finance,  in addition to Information Technology, Business Management and Accounting qualifications.

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What Our Customers Are Saying

Don’t just take it from us, let our customers do the talking!

“Dear Stuart and Brendan.  We would like to say a big thank you to you for the successful sale of The Blue Store, your time, hard work and diligence has finally paid off.  The presentation, negotiations and communications always very professional and friendly.  The shop has served its purpose well, it has allowed our family to obtain citizenship in Australia and I am now free to pursue my career in nursing.

Thank you again guys. ”

Theresa & Daryl Jones

Business Owners, The Blue Store

“I would like to thank your very much on your handling of our recent business sale.   Even though ours was a small business your professionalism and good sound advice in dealing with us was much appreciated. As a result both the buyer and us as the sellers were very happy at the outcome.   The sale was accomplished with minimum fuss and settled very promptly.   I would be happy to recommend your agency to any future clients.

Thanks again. Regards.”

Lloyd Pickering

Entrepreneur

We were introduced to Brendon Falk “Foresight Business Sales” by another happy seller.  From the first minute we emailed our contact details to Brendon, we were contacted within hours, the business was appraised, inspected and listed within a couple of days with full website exposure by the end of the week.  This professionalism has created a very quick sale of our business, during the 8 weeks our business was listed which included the Christmas and New Year period. During this time Brendon directed quality buyers for inspection of our business which now has resulted in our business being sold.  Brendon is not only an agent, but a true professional by keeping both the sellers and vendors interest at the forefront of all communications, negotiations and follow ups as our process has taken place…

Greg & Suzanne Caulley

Owners, Wide Bay Burnett Distributors

Read more of the glowing testimonial from our valued clients

Frequently Asked Questions by Sellers

What is my Business Worth?

The simple answer is what someone is willing to pay all things considered.  All things considered is important because every business has good and bad qualities so its very much a case of where yours sits along a price spectrum.  The upper and lower indicators are based around the fundamentals such as the net adjusted operating profit, risk to the maintainable earnings and just how much effort is required to achieve those earnings.  You may have heard about multiples of net for example 2 times earnings but this is the inverse of Return on Investment or ROI.  A Price to Earnings ratio of 2 is an ROI of 50%.  A PE ratio of 3 is a ROI of 33% and so on.  More than anything, your business worth is determined by by your net adjusted operating profit, divided by a ROI (or multiplied if PE) to give you an indication.  Most Sellers know what they want or what they feel the business owes them in order to sell so we are happy to work off that amount also.  However, the fundamentals will still need to substantiate to a large extend what you are asking but we also take into consideration non-financial factors such as exclusivity, clientele, location and so on.  If you are wanting a price indication, you will need to complete the Business Appraisal Form on this website.

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What does it cost to Sell my Business?

We don’t do pricing over the phone but we do provide a written Proposal in relation to our fees.  We also need to know what we are selling so we will need some information on your business so we can be fair to you and to ourselves.

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How long does it take to sell?

We don’t like to give indications or mislead people as to how long it will take because there are too many factors.  What we are prepared to say that if your business is well prepared and presented for sale, properly marketed by one of our agents and that there are no major impediments, we are going to get people interested for sure and they will want to inspect your business.  After the inspection, more often than not you will get someone wanting to make an offer.  Once there is an agreement, you are looking at about a week or two for contract preparation and signing, then about 45 to 60 days to settle on average.

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Do I have to stay around afterwards?

It is customary for the Seller to provide ‘Tuition’ to the Buyer for a period of days or weeks and this time frame will vary depending on the experience of the Buyer and complexity of the business.  That said, Sellers typically offer between 2 weeks and 1 month of training during the normal operating hours of the business.  Following the 1 on 1 training, the Seller will offer further support by phone or email only for an extended period.

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What happens to my employees?

It is up to the Buyer to provide the business employees with an Offer of Employment and that will occur prior to Settlement.  Before then, nothing is required to be disclosed to employees regarding the sale of your business.  However, some Sellers choose to inform their trusted employees of their intention to sell.  Employees usually have nothing to fear given Buyers usually keep everything the same and given employees know the business better than the Buyers, they become even more valuable.  Furthermore, under the Standard Conditions of Sale, the Buyer cannot offer the employees any lesser remuneration that what they currently receive.  However, the Seller is responsible for paying out any accrued entitlements at Settlement and technically, their employment ceases with the Seller at that point.

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Do I have to pay GST and Transfer Duty on a Business Sale?

No and No.  There is no GST on a Business sale provided that the Sale meets the ‘Going Concern’ exemption.  This simply means that the business needs to be able to carry on as it did before in order to qualify and the Buyer needs to be registered for GST and provide their ABN prior to Settlement.  In relation to Transfer Duty, that is payable by the Buyer of the Business, not the Seller.

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Can I keep my Business Vehicle?

This depends on whether it is used for just commuting to and from work or is in fact an integral part of the business.  In the case of commuting and some business travel then it would be customary to keep your vehicle, even if in the name of the business.  However, same would not be included on the P&E / Assist list.  However, where the business has dedicated work vehicles that are part of the business operations, then they would stay with the business and would remain and included asset.

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Do I pay Tax on the Business Sale?

Sometimes yes sometimes no and this is a question for your financial adviser as it depends on your particular circumstances.  You can legally reduce the amount of Capital Gains Tax (CGT) payable by offsetting gains with losses, deferring gains, seeking concessions or exemptions and timing the sale favourably.  It is always advisable to seek financial advice from a Certified Financial Planner (CFP) in addition to your Tax Accountant.

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Can I get paid for Goodwill?

Absolutely yes.  Businesses sell every day of the week and they can include a substantial component of goodwill if not ALL goodwill in the case of a service business.  Asset price is only for businesses generating a low profit.  Higher net profit businesses command goodwill based on their ability to generate maintainable income not just form tangible assets but from non-financial factors such as reputation, location, client satisfaction, exclusivity and service offerings.

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What do I need in order to sell?

For starters, we like to obtain the Profit and Loss statements for 3 years from the accountant, along with a list of Plant & Equipment and the lease.  There will be other documents in the case of any exclusivity agreements and contracts in place.  Beyond that, we will let you know.

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What do the terms P&L, P&E, SAV, WIWO, OGs, mean?

There are a number of terms commonly used including Profit & Loss (P&L), Plant & Equipment (P&E), Stock At Value (SAV), Walk In Walk Out (WIWO) and Outgoings (OGs).  The P&L Statement refers to the Income Statement of the Business which shows the total income less expenses to operate the business.  The P&E list are the business assets / chattels.  This list is further broken up into Assets which are owned or leased or neither owned nor leased but still included in the same.

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Is my Business my Superannuation?

Whilst you may see it this way, the Government may not unless its physically owned by your Superannuation fund and that is unlikely.  However, you can make a super contribution with business sale proceeds but the business must first be SOLD!  Don’t take your business as your superannuation for granted and make sure you get advice on this from a Certified Financial Adviser and or Tax Accountant.

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We would love to hear from you!

If we didn't answer all of your questions, feel free to drop us a line anytime.

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