Home
Blog
Reduce Business Sale Delays With Some Simple Steps: Business Brokers
For Business Brokers

Reduce Business Sale Delays With Some Simple Steps: Business Brokers

By
John Kafrouni
25 Sep 2011
•
5
min read

What can business brokers do to reduce delays with completion of business sales?

Here are some suggestions.

Get the Seller to:

  1. speak to their accountant regarding GST (going concern) and CGT
  2. get due diligence ready
  3. prep for the usual buyer contract terms e.g. restraint of trade, usual warranties;
  4. address shortfalls in the lease – find out the lessor’s requirements – arrange a meeting;
  5. provide an exhaustive inventory list and make sure they own the business assets;
  6. ensure all assets of the business are in good working order;
  7. ensure the business name(s) are registered;
  8. contact financier regarding security over the assets or company charges;
  9. ensure all licenses to run the business are in place and no requisitions exist;
  10. provide all employee/entitlement details.

Get the Buyer to:

  1. get pre-approved finance;
  2. speak to their accountant/solicitors about GST (going concern) and structuring;
  3. speak to their solicitors about the buying process and provide you their details;
  4. consider stamp duty and other transaction costs.

What to do next: If you need help with dealing with procedures, or for all queries regarding business sales and assistance, call Joe Kafrouni on 3354 8888 or email joe@klaw.com.au.

Disclaimer

The information provided by Kafrouni Lawyers is intended to provide general information and is not legal advice or a substitute for it. A business broker should always consult their own legal advisors to discuss their particular circumstances. Kafrouni Lawyers makes no warranties or representations regarding the information and exclude any liability which may arise as a result of the use of this information. This information is the copyright of Kafrouni Lawyers.

Liability limited by a scheme approved under professional standards legislation.

View Document

Table of contents

Heading 3
Heading 4
Heading 5
Heading 6

What People Say

Joe Kafrouni helped me in my acrimonious shareholders dispute, resulting in Supreme Court litigation. During my case, which took years to resolve, I appreciated Joe’s great concern for my well being and that of my family. I felt he was attentive, direct and provided me with sound advice. In the end, Joe skilfully negotiated a settlement that exceeded my expectations and I am grateful.
Thank you, Joe. It was a pleasure working with you to resolve the matter today. In particular, I appreciated your patience to fully understand each party’s position and to bed down a final heads of agreement to conclude the resolution between the parties.
Joe Kafrouni has been our company’s lawyer from the beginning and has been instrumental in our journey as company owners and directors. When dealing with both complex and sensitive company issues, Joe is able to provide us with clearly articulated strategies that are well thought‐out and with the bigger picture in mind. He genuinely cares and is always willing to share his personal views, which are both honest and just. Joe is highly professional and knowledgeable in his field. You will definitely benefit having him on your team.
Joe, I appreciate it was a very long day yesterday but we got there in the end. I thought you did a great job and I enjoyed watching your approach and the way you conducted the mediation.  
Joe, as you know we were in a very difficult position with our company before we engaged you as our lawyer and fortunately, even with the odds stacked heavily against us in our shareholders dispute, you managed to pull us through to victory. You are a true credit to the industry not only because of your skilled negotiating tactics but also due to your personable nature, which made us feel comfortable in such a volatile situation.
The biggest lesson I have learnt from you recently, Joe, is that it pays to have a professional such as yourself on my side to deal with matters that I am unequipped to handle … so I can carry on with the task at hand of building my business! Thanks again, I’ll take pleasure in recommending your services to anyone in need.
A big thank you for your time today, Joe. Thankfully we managed to strike a deal although it took a little while to do. Thanks for your patience and perseverance.

Contact

Let’s talk.

‍

I take on a limited number of matters so I can give each my full attention with the time I have.

‍

To keep things simple and fair, I offer an initial paid consultation that you can book here. It’s a chance for us to speak directly about your needs — no obligations, no pressure.

‍

If you're ready to move forward, you can choose a time that suits you and pay the initial consultation fee securely when you book.

‍

This approach helps me focus on clients who are serious about getting the right advice and ensures I can give you the time and care the matter deserves.

‍

I allow up to 1.5 hours for the consultation. Afterward, you’ll receive a short summary of what we discussed and any recommended next steps.

‍

This approach helps me work closely with clients who are serious about getting the right advice — and ensures I can give them the attention they’re paying for.