|
Top 10 tips for Business Purchasers |
|
Top Tips for Financing a Business Purchase
* Calculate how much you need. Do not underestimate costs and working capital will be required
* Look beyond just the best interest rate. Understand the loan structure, security required, fees and charges
* Ensure you have had an independent professional conduct a thorough due diligence on the business
* Make a plan to repay debt. If the business can not afford it the loan it is probably poorly structured loan
* Listen to advice from industry experts. Don’t forget that lots of other people have done this before
* Get the right loan structure to fit your specific requirements. Don’t just stick to your current Bank, there might be more competitive loans and structures elsewhere
* Have your loan approval in place BEFORE exchanging purchase contracts (you don't want to lose your deposit!) OR if you do exchange contracts make sure there is a strong subject to finance clause in the contract
* Ensure you have full information on the business including financials, lease terms, staffing, suppliers and store history
* Prepare a Business Plan and cashflow projections and ensure you revisit them regularly
* Review your borrowings with a specialist periodically to ensure they still are right for you and your evolving circumstances
Newsagencyfinance.com.au is very experienced at arranging —————-loans for new and existing newsagents.
Why not give us a call on:(02) 6368 7161 or email us:
|
|
NewsagencyFinance.com.au |
|
Finance for your Newsagency Business |
