It’s not uncommon for people to confuse a business appraisal with a business valuation. While both are similar, a business valuation is far more thorough than a business appraisal. To put it simply, an appraisal is an estimate of what the business will sell for at that point in time. However, a business valuation involves a whole […]

What you need to know before starting a business. Are you sure that you are ready to own your own business? Are you prepared to do what you need to do? Many people, with all levels of expertise and enthusiasm, don’t take time to make sure that they are ready to be a business owner. Here are […]

How to improve your Business that sustained through the Coronavirus (Covid-19) pandemic Sorry to be so serious…, but things could start getting interesting for small business in Australia in the next few months. With the Australian government’s economic support packages coming to an end, it’s time to start thinking about what your business will look like […]

What happens after the Stimulus and relief package ends in March 2021? A letter from the principal of Benchmark Business Sales & Valuations Dear Business Owners: Sorry to be so serious…, but it looks like things could start getting interesting for small business in Australia in the next few months. With the Australian government’s economic […]

Here are some basic ideas that are often forgotten and if applied will create a better-performing more valuable business for you when you decide to sell. Has this ever happened to you? You walk into an empty shop, and you find the attendant focussed on their phone or computer and not working? With some people […]

10 Lessons I learned the hard way – don’t make these mistakes I have been in business now for many years, and over those years I have started many new ventures. I’ve experienced success, and have also had some spectacular failures! I often think back to those early days in business, and ponder what would […]

Business Broker Andrew Morris has helped business owners to buy and sell businesses in Queensland for almost a decade. As an experienced and knowledgeable business broker, he assists his clients at every step in the process and achieves outstanding results for both parties. In the last year Andrew Morris has sold many Businesses with these […]

Everything you need to know about success as a Business Owner or Entrepreneur What makes a business owner or entrepreneur successful? Is it: Hard work? Good luck? Being in the right place at the right time? Being clever? Genius? Teamwork? Belief? Persistence? Business success could be due to all of these things, one of these […]

The Business Lifecycle comprises: Start Up Operation and Improvement Wealth Management Exit Business Purchase or Start Up Whether starting a new, or buying an existing, business, the following should be considered to ensure you make an educated decision before proceeding: Pro’s and Cons of the industry Business Planning Marketing strategy Registration and licence requirements Name […]

8 Tips to improve the health of your Business OK, you have been running your business for a while now. And it is going well, the way it has always gone. Like many other business owners I work with, you might be feeling that there must be a better way of doing things. There are […]

Key points to consider when opening an online business. Whether you are seeking to start a purely online business, or to expand an offline operation online, there are several business models which you can consider. In this article I wanted to outline some of the various online business models that exist in order to give […]

Business owners must have three separate business plans; · A Business Plan · A Marketing Plan · An Exit Plan Do you have all three? The first plan to prepare should be the Exit Plan. Remember to start with the end in mind, and work back from there. BUSINESS PLAN A Business Plan allows the […]

How to sell your Business for more than you think it is worth. Did you know that many business owners don’t realise that their businesses are valuable? Often business owners simply close down and walk away from their business without cashing-in on the Goodwill that they have built up in their business. What a shame, all those […]

How to grow your business setting and changing mindset Business Owners you must make a choice! In Business, You are Either Growing or You are Dying. As a business owner, you must ask yourself, What does it take to build an enduring, strong company and to continuously improve and grow? GROW STAGNATE DIE Its your […]

Common terms used in business and what they mean. It does not matter what industry you work in, there always seems to be that inside language, the lingo which is usually spoken in acronyms. I am often asked (mainly by first time buyers or sellers) to clarify acronyms within our Business Broking industry, which in recent times […]

Improve and grow your Business now and sell it for more money in the future A small business is an exceptional investment that will not only increase in value with improved performance, but it will also provide the owner with employment, an above average return, a sense of achievement and, in some cases, non-cash benefits. […]

Why you need a marketing program to target the right buyer for your Business for sale It makes it difficult to find the right buyer for your business if you don’t widely promote and advertise. The wider the net is cast, the more potential buyers you will have look at your business. More buyers equals […]

Everything you need to know about Capital Gains Tax Why every Business Owner should know if they have to pay CGT when selling their small business.

Create your LinkedIn Account in 4 easy Steps and connect with other professionals LinkedIn: The Social Media Network to build Business relationships Everyone knows that LinkedIn is an online business-oriented service platform. A network with over 100 million members. Therefore, it’s necessary to integrate LinkedIn into your social media strategy. Here are the 4 easy […]

If you are thinking of buying a Service Station, you should consider if the Service Station is Metro or Regional – and which option offers the best returns The location of a Service Station will likely be first on your list since the direction of traffic flow indicates if the Service Station is the nearest […]

How high is high? Entrepreneurs Never Know When to Say ‘Enough’! Conservative business owners know when it’s time to say “Enough”. How will you know when it’s the right time to sell your business….? Looking back over the more than twenty years I’ve been in business sales, I’ve learned that there are many different types […]

Business Brokers are often asked “how can I sell my business quickly”… the answer is that we need to get buyers interested in the business for sale. Over many years we have found that most buyers are local. In fact, about 80% of buyers are locals. Only 20% come other sources – most from interstate. […]

Last week three senior Benchmark Business Brokers Nikki Katz, John Kasapi and Lily Small each received outstanding achievement awards from the Australian Institute of Business Brokers. “The Australian Institute of Business Brokers (AIBB) is the peak industry body formed in 1989 to represent and provide support services to Professional Business Brokers involved in the facilitation […]

Many people find the prospect of buying a business for the first time to be a daunting prospect. There is one thing that every business buyer must do when it is time to buy a business. Here you will find out what that thing is, and why it is so critical. Of all the ways […]

Many business owners know the best buyer for their business, but run the risk of ruining their relationships in negotiating the busines sale themselves. Here are some thoughts on how to manage the sale of your business smoothly and simply.  Combine money and emotions and you setting the scene for the perfect storm.  It can […]

There are many versions and definitions of profit. Business owners and potential buyers need to be aware of the subtle differences in terminology used to describe profit, so that they can understand the impact and implications of these differences. Some of the different methods used in reporting profit are: Owner Operator – The pre-tax return earned by a […]

ASQA Requirements when Selling an RTO With effect from 31 October, 2019, ASQA, the national regulator for Australia’s vocational education and training sector, introduced some changes. Increased evidentiary requirements for providers who change 50% or more of their ownership over a 12 month period to demonstrate their compliance with the relevant regulatory framework, including: The […]

Change creeps up on us slowly. And it’s only when we look back, that we realise how much has changed, and how quickly it has happened.   It doesn’t seem that long ago, we used to lick a stamp and put it on an envelope to send messages, information and documents. Similarly, we used to […]

Planning ahead gives you control. By making realistic, simple plans you take control of your business and your life.  There’s a lot of truth in the saying “failing to plan is planning to fail”. It seems obvious that having a plan is necessary, but it’s surprising (and difficult to understand why) so many business owners […]

1.Buying 2. Operating and 3. Selling   A Retail Business Buying: Choose the appropriate sector to suit your experience, knowledge or passion Look for the right location, brand & price Prepare a Business Plan with comprehensive financial planning Obtain an expert valuation of the business Equip with adequate training Make sure that you are trained and […]

Many accountants will have a basic idea of what their practice is worth, or they may think they do. Most of them will use the easiest and most common valuation method which is applied to many and varied businesses across a wide range of industries. That is the dollar for dollar concept.   What does this […]

“If it ain’t broke don’t fix it”… “We do it that way, because that’s the way we’ve always done it” These are not the sentiments expressed by successful businesses. These statements were probably the expressions of companies that have gone by the wayside. Companies like Kodak, The Sydney Harbour Ferry Company (look it up) and […]

Some examples of what others have done People often ask me about how to best utilise digital technology within their business. The best way to guide business owners in answering this question is by providing some examples of what others have done and what has worked for their business. So, here’s a handful of real-life […]

Ten years ago the CBD areas in all Australian Capital Cities was 80% retail, and 20% hospitality. Today it’s the other way around.. 20% retail and 80% hospitality. In ten years the landscape has changed, and it appears that this is only the beginning. It would be easy to conclude that retailing is all online […]

When you are buying a business, conducting due diligence ensures you have access to important information about the business you’re buying. It’s the best way for you to assess the value of a business and the risks associated with buying it. Through the due diligence process, you thoroughly investigate all aspects of a business for […]

Many Café and Restaurant owners can lose sight of how to increase sales, using Marketing Tools. They get too busy working in their business and don’t focus on a Marketing Strategy. The value of your hospitality Business is underpinned by your sales and net profit figures, so the higher you can get them, the more […]

All business value is comprised of two basic elements; Intangible Assets and Tangible Assets. Intangible Assets (Usually “Goodwill”)   Goodwill is the primary component of the purchase price that remains after deducting all other assessable components from the total purchase price. Before simply adopting a final value for goodwill, it is necessary to understand the different types […]

You need to make it easy to TRANSFER your GOODWILL The greatest fear that purchasers of professional practices have is that they will pay big goodwill to the outgoing owners, – and then the clients will all leave. To minimise this risk, any purchaser needs to seriously look at the reasons why a client frequents […]

Look at Your Business through a Buyer’s Eyes It’s amazing what you’ll see and learn about your business when you look at it through the eyes of a buyer. Have a look at your business and what you have to offer. Think about what a buyer is looking for and what they will find if […]

When will you start to prepare? What is the best time to start preparing for an eventual sale? When will you start to prepare? What is the best time to start preparing for an eventual sale? Things are changing fast right now, and it’s definitely not “business as usual”.  Why not take advantage of the current […]

Like everything there is a cast to properly Marketing a Business for sale When a business is for sale, the market needs to know about it. Otherwise, it remains a secret. And you can’t sell a secret. To reach the widest audience, it’s generally accepted nowadays, the most effective medium is the Internet.  Whilst it’s […]

Entrepreneurship for business owners can be a rewarding journey both financially and emotionally, but one that requires clockwork consistent investment and constant adaption in three key areas: principles, processes and people. This adaption has never been more important than today.  Business need to adapt in this quickly changing market. Business success does not necessarily require a growth at […]

Not every business needs to carry stock to operate, but many do, and when selling a business which carries stock there are many issues to consider. Some obvious, and some not so obvious. Obvious. When selling a business with stockholding the sale may be either “Walk In Walk Out”, or “Plus Stock”. Walk In Walk […]

I understand we are all treading in uncertain times right now. One thing I do know is that the GFC affected the globe in a similar way to Covid-19. They were terrible times for business, finances, property etc. I remember working through those days, we still sold businesses and buyers managed to borrow money back […]

This is what many prospective business purchasers are asking right now. It makes sense to wait and see what happens right now, doesn’t it? Caution is wise. When things are uncertain, the easiest thing to do is to do nothing. And that is often the wisest decision. Many prospective business purchasers are asking themselves “Should […]

One of the most common concerns prospective vendors have is confidentiality. “I don’t want anybody to know I’m selling, it would be very unsettling for the staff. I wouldn’t want my customers to know either.” This is by far the most common concern for sellers. Professional business brokers are very aware of the confidentiality issues […]

Owning a business can be hard. Business ownership can provide great rewards, but it can be stressful and challenging. The thing is that it can be unrelenting, and eventually business owners will run out of …….. zest, passion, excitement, and drive… or “mojo” – unless something is done. Proactive action is the key. Don’t lose […]

We all run small businesses. Here is a summary of the Federal Government’s small business stimulus package announced so far, including support measures from the ATO. COVID-19 economic stimulus package announced   The Government’s plan provides direct support for business including payments for business, wage subsidies for apprentices and trainees and enhancing the instant asset write-off: Tax-free […]

If you’re thinking of selling your business, it’s important to devote preparation time to the sale. Proper preparation plays a major role in influencing the final sale price. It also helps to achieve a smooth transition from you to the purchaser. Having a Business Valuation conducted is the right way to establish where you are […]

… and get a great Sale Price! Good times come, and good times go. Tough times come, and tough times go. Selling an SME business in tough times can be tricky, but there are a few things that you can do to get the business sold, and to achieve the maximum value for the business. […]