How to Guides

  Here’s how it usually starts:   “Mate, we should buy this together.”   Simple. Exciting. Logical.   You like each other.   You trust each other.   Why not go halves?   But a few months later, it sounds more like:   “Why am I doing all the work while they disappear at 3pm every Friday?”   If you’ve ever thought about partnering with a mate, you’re not alone.   Plenty of smart people do it. Some get it right. Most learn the hard way.   This article is for anyone thinking about sharing ownership.   It’s not here to talk you out of it. It’s here to make sure you go in with your eyes open, your documents ready, and your expectations clear.       THE TRUTH ABOUT BUSINESS PARTNERSHIPS   Let’s be blunt. Most business partnerships fail.   Not because the idea was bad, but because the relationship couldn’t survive the pressure.   When you add money, customers, legal risk, long hours, and family stress to the mix, even the strongest friendships can crack.   These are the most common reasons partnerships fall apart:   One partner carries more of the load Decision-making becomes slow or deadlocked One wants to reinvest while the other wants to pull out profits Expectations were never written down Personal lives start interfering with business commitments What started as “we’re in this together” becomes “I can’t keep doing this with them.”       PROS AND CONS OF PARTNERING WITH A FRIEND   To be clear, partnerships can work.   They just require more structure than most people think.   -Here’s how it breaks down:   Potential Benefits Potential Risks Share the financial burden Share every decision, even the messy ones Complementary skills One person may end up doing more than the other Emotional support and shared wins Friendship may not survive business stress Built-in trust and communication Conflict can become personal and hard to fix   Bottom line: Trust helps. But clarity and structure are what actually keep it together.       SIGNS YOUR FRIEND MIGHT BE THE WRONG PARTNER   Friendship is great.   But being business-ready is a different skill set.   Here are some red flags to watch for:   They talk big but get vague about the details They rely on your ideas, cash or contacts They avoid hard conversations They have not followed through on past projects They are more excited about being a business owner than doing the actual work They get defensive whenever money is mentioned Their personal life is a rollercoaster Gut check question: If you weren’t friends, would you still want to build a business with them?   If the answer is no, you’ve already made your decision.       WHAT A GOOD BUSINESS PARTNER LOOKS LIKE   You want someone who:   Gets things done without being chased Can handle stress without blowing up Understands money and decision-making Shares your values around work, risk, and responsibility Has a track record of finishing what they start Can run part of the business independently Is willing to talk through tough situations early And they need to respect this fact:   Just because you’re mates, doesn’t mean the rules don’t apply.       TEN NON-NEGOTIABLE RULES BEFORE YOU PARTNER   1. Do your due diligence on them. Check their track record. Speak to people they’ve worked with. Don’t skip this because you share a history.   2. Plan for the breakup on day one. How will one of you exit if things change? What’s the process? What’s the price?   3. Avoid 50-50 ownership without clear leadership. Someone has to be in charge. Deadlocks kill momentum. Give one partner operational control, or bring in a trusted third-party advisor.   4. Do not hand out equity based on future promises. If they are not investing cash, they earn equity through performance. No free rides.   5. Use vesting periods. Structure ownership to build over time. For example, 25 percent after one year, then the rest over three. It protects both of you.   6. Add a buy-back clause. This gives you the right to buy them out under agreed terms if they want out or underdeliver.   7. Agree on how to value the business up front. Use a multiple of profit, a fixed formula, or a valuation method both sides accept. Don’t leave it to emotion.   8. Put it all in writing. Every role. Every responsibility. Every dollar. Use a solicitor and make it real.   9. Keep outside voices out of the room. If their partner, sibling or old mate is whispering business ideas in their ear, it’s a problem. Only partners should be making decisions.   10. Let your solicitor ask the hard questions.They will push for clarity. That protects your friendship. That’s their job.       REAL EXAMPLE: WHERE IT ALL WENT WRONG   Two mates in regional NSW bought a mechanics workshop together.   One handled the workshop floor. The other managed admin and cash flow.   They started without a formal agreement. Things were great for six months.   Then the admin partner started missing days. Family stress. Health issues. Delayed bills.   The workshop partner picked up the slack.   Eventually, the working partner demanded to buy him out.   No valuation method had been agreed. The friendship soured.   They ended up in mediation. Legal fees topped twenty grand.   Lesson: No one thinks they’ll fight. Until they do.       PARTNERSHIP IS NOT ABOUT TRUST. IT'S ABOUT CLARITY.   You can trust your mate and still get everything in writing.   In fact, if you trust them, you’ll both want the same thing — structure.   If they resist structure, ask yourself why.   Because here’s the truth:   A good partnership will make business better.   A bad one will make every part of it harder.   If you are not both bringing something valuable to the table: time, cash, skills, systems... and you are not willing to spell it all out, then don’t do it.   Better to own a business solo than ruin a friendship trying to split one.     Your Next Step   Ready to find businesses that checks all you boxes?   Explore our current listings of Australian businesses for sale at BusinessForSale.com.au

  So, you’ve done your due diligence.   You’ve looked the seller in the eye.   You’ve seen the numbers, asked the awkward questions, and decided you’re ready to make an offer.   Now comes the part that makes most new buyers freeze.   How do you actually start negotiating the deal?   Do you send a formal letter? Do you loop in your solicitor immediately? Do you wait for the seller to name a number?   Let’s make it simple.   Here’s how to begin the negotiation process the smart way — with clarity, calm and control.       STEP ONE: PEOPLE BEFORE TERMS   Most people rush into deals trying to impress sellers with complex structures and long-winded term sheets.   That’s not how professionals start.   The first thing to assess isn’t the price or the payment plan.It’s the people.   Ask yourself two questions:   Will I make money from this business? Do I want to work with this person and their team during the transition? If the answer to either is no, walk.   If both are yes, keep going.   Because the success of the deal relies on relationships, not just spreadsheets.       STEP TWO: START WITH THE BLANK PAGE METHOD   Here’s how experienced dealmakers avoid paralysis by analysis.   They use what’s called the Blank Page Start.   It’s not legal paperwork. It’s not binding.   It’s a simple one-page outline that sets the tone.   It might look like this:   "Hey [Seller], we've agreed there might be a deal here. I want to buy your business for $X amount, using Y financing, based on Z terms and conditions."   Write it by hand or type it up, sign it yourself, and send it across with a message like:   "If these terms sound good to you, let's both sign this and I’ll get it over to my solicitor to prepare the deal."   This signals intent without scaring the seller or locking you into anything.   It keeps things human and grounded.   And most importantly, it gets the conversation moving.   Tip: Only bring in lawyers once both sides have signed the blank page. Not before.       STEP THREE: BE THE FIRST TO SET THE PRICE RANGE   Traditional advice says, “Never say your number first.”   That’s fine for poker. It’s bad for business.   Here’s why it works to go first when buying small businesses:   Most sellers have never done a deal before. Their expectations are based on emotion, not data. They often overvalue the business because they built it from scratch. If you hesitate, they’ll anchor to fantasy numbers they heard from mates or articles online. So instead of playing games, put your range on the table.   Example:   "Most small businesses sell between 1 to 5 times their net annual profit. Based on what I’ve seen, I’d value this one between $400,000 and $500,000."   You’ve just done two things:   Anchored the conversation in reality. Shown them you’ve done your homework. If the seller says, “But I want a million,”   you’re now in a position to calmly explain why that’s unrealistic, not from opinion, but from comps, financials and logic.       STEP FOUR: LET THE NUMBERS DO THE TALKING   Remind them that price is just one part of the deal.   Things that affect valuation include:   Revenue consistency Customer concentration Lease terms Staff turnover Equipment age Owner involvement Supplier agreements Seasonality Risk and dependency Make it clear that the number is not an attack.   It’s just the market reflecting what the business earns, what the buyer takes on, and what it will take to grow from here.   You’re not underpaying. You’re pricing for performance.       STEP FIVE: FINISH WITH CONFIDENCE AND KINDNESS   One last tactic. End the first negotiation conversation with a clear, respectful close.   Just like a great restaurant hands you a mint with the bill, you want to leave the seller with a good taste in their mouth.   Try something like this:   "I respect what you’ve built. If this business is going to keep thriving, we both need to win. I’m not here to squeeze you. I’m here to create a deal that works for both of us."   You may not remember your first words, but they’ll remember your last.   And you want to be remembered as a buyer who listens, understands and deals fairly.       FINAL WORD: YOU DON'T NEED TO BE A NEGOTIATION EXPERT   You don’t need to outsmart anyone.   You don’t need to wear a power suit or quote Shark Tank.   You just need to:   Start simple Stay clear Show respect And let the deal structure follow the relationship, not the other way around This is not a battle. It’s a transition.   You’re not taking their business. You’re carrying it forward.   Start that process the right way, and everything else will be smoother from here.     Your Next Step   Ready to find businesses that checks all you boxes?   Explore our current listings of Australian businesses for sale at BusinessForSale.com.au

  Most people think you need hundreds of thousands of dollars and a bank loan to buy a business.   Not true.   In many cases, businesses are closing down not because they’re worthless, but because the owners are tired, retiring, or simply ready to move on.   And in those moments, opportunity appears.   If you act with empathy, timing, and a clear offer, you can acquire real value: customers, cash flow, staff, even entire operations, without needing huge amounts of capital up front.   This article breaks down four real, practical strategies that smart buyers are using right now to acquire businesses that are shutting down.       1. CUSTOMER TRANSFERS THROUGH EXIT AGREEMENTS   When a business closes, its customers don’t just vanish.   They need somewhere to go.   Smart buyers position themselves as that “somewhere” and they do it by partnering with owners before the doors officially close.   Example:   Brittany owned a gym. When nearby fitness studios began shutting during COVID, she didn’t wait. She reached out and made a deal with one of the owners:   The gym that was closing sent an email to its members, recommending Brittany’s gym as their new home. Brittany agreed to pay the former owner a share of the new member revenue for the first six months. She invited those customers to a special welcome event and gave them a warm handover experience. She even offered the original owner a part-time role as a trainer or advisor. The result? Brittany gained over $100,000 in new revenue and built a reputation as a safe landing zone for former members.   Why this works:   The outgoing owner keeps their reputation intact.   Customers are taken care of.   You grow your client base.   No one loses face.   Tip: This can work in any service business: fitness, childcare, health, beauty, even trades, anywhere there is a recurring or loyal customer base that needs continuity.       2. REFERRAL DEALS WITH RETIRING OR EXITING OWNERS   When a business closes, its database becomes one of the most valuable remaining assets.Emails, past clients, website traffic, Google reviews, it’s all sitting there with nowhere to go.   Instead of watching that value disappear, step in and turn it into a referral engine.   Example:   Peter owned a restaurant. A nearby competitor was shutting down. Rather than ignore it, he made an offer:   The owner of the closing restaurant sent one final email to their 15,000-person list. It included a heartfelt farewell and a special 25 percent discount at Peter’s place. Peter paid a referral fee for each customer who used the code. Within weeks, Peter had gained dozens of loyal new customers.   The former owner made a few thousand dollars on the way out. Everyone won.   Why this works:   The exiting business gets one final income stream. You acquire customers for a fraction of the normal cost. There’s no risk of being seen as aggressive or opportunistic. Tip: Keep it personal. Make sure the referral comes directly from the owner. People are far more likely to follow someone they trust.       3. TURNAROUND DEALS WITH PROFIT-SHARING INSTEAD OF CASH   Not every business that shuts down is a failure. Some are simply stuck.   The owners might be burnt out, overwhelmed, or unsure how to take it further.   That’s where you can step in, not with a big cheque, but with a better offer.   How it works:   You agree to take over the business and improve it. You offer the seller a percentage of future profits, rather than a large upfront payment. You reduce their risk while giving them long-term upside. Example:   Drew built a business portfolio by acquiring small websites and digital businesses that were no longer active.   He didn’t offer money upfront. He simply proposed a 30 percent share of any profit he generated after taking control.   Owners were happy to walk away with no pressure.   He rebuilt the businesses using simple improvements.    Within months, they were generating income and paying the original owners more than they expected.   Why this works:   The seller gets peace of mind and potential income. You avoid risky debt or overpaying for underperformance. You only pay if the business actually works. Tip: Make sure everything is documented. Profit-sharing agreements should be clear, with agreed timeframes, reporting, and exit clauses.       4. ACQUIRING STAFF AND TALENT FROM CLOSING BUSINESSES   Sometimes, you don’t want the business.   You want the people.   Experienced staff, loyal teams, and well-trained service providers are extremely valuable, especially when hiring is tough.   If you find out a business is closing, you can approach the owner and propose a respectful transition for key team members.   How this works:   You speak to the owner before closure and offer to interview their team. You guarantee a smooth onboarding for their staff and clients. You may offer a small incentive to the owner to assist with the transition. Staff keep their jobs, and you gain a team without recruitment headaches. Example: A childcare centre in a regional town closed due to the owner’s health.   A nearby centre offered to hire the team, absorb the enrolled families, and continue the program with minimal disruption.   The transition was calm, respectful and retained almost the entire staff base.   Why this works:   You protect jobs. You gain proven staff. You build goodwill in the community. The former owner protects their legacy. Tip: Make the transition process professional and structured. You want staff and clients to feel confident, not anxious.       WHAT MAKES THESE STRATEGIES EFFECTIVE   They rely on relationships, not capital. They solve problems for the seller and provide real value in return. They minimise risk, while maximising opportunity. They’re often faster and less complex than full acquisitions. They build trust, goodwill and a strong reputation in your industry.       YOU DON'T NEED BIG MONEY TO BUY REAL VALUE   Buying a business doesn’t always mean writing a big cheque.   Sometimes, the best deals happen when a seller just wants out, cleanly, fairly, and with dignity.   If you can offer that, you don’t need to compete on price.   You compete on value.   These strategies work because they help everyone win.   The seller exits with confidence.   You gain customers, cash flow, or talent.   The clients get continuity.   The staff get stability.   That’s not just a clever deal. That’s a good one.   So next time someone says, “Yeah, we’re shutting down next month,” you know what to do.   Ask the right questions.   Make a smart offer.   And build something better with what others are walking away from.   That’s how smart buyers grow: one good conversation at a time.     Your Next Step   Ready to find businesses that checks all you boxes?   Explore our current listings of Australian businesses for sale at BusinessForSale.com.au

  Here’s how it usually starts:   “Mate, we should buy this together.”   Simple. Exciting. Logical.   You like each other.   You trust each other.   Why not go halves?   But a few months later, it sounds more like:   “Why am I doing all the work while they disappear at 3pm every Friday?”   If you’ve ever thought about partnering with a mate, you’re not alone.   Plenty of smart people do it. Some get it right. Most learn the hard way.   This article is for anyone thinking about sharing ownership.   It’s not here to talk you out of it. It’s here to make sure you go in with your eyes open, your documents ready, and your expectations clear.       THE TRUTH ABOUT BUSINESS PARTNERSHIPS   Let’s be blunt. Most business partnerships fail.   Not because the idea was bad, but because the relationship couldn’t survive the pressure.   When you add money, customers, legal risk, long hours, and family stress to the mix, even the strongest friendships can crack.   These are the most common reasons partnerships fall apart:   One partner carries more of the load Decision-making becomes slow or deadlocked One wants to reinvest while the other wants to pull out profits Expectations were never written down Personal lives start interfering with business commitments What started as “we’re in this together” becomes “I can’t keep doing this with them.”       PROS AND CONS OF PARTNERING WITH A FRIEND   To be clear, partnerships can work.   They just require more structure than most people think.   -Here’s how it breaks down:   Potential Benefits Potential Risks Share the financial burden Share every decision, even the messy ones Complementary skills One person may end up doing more than the other Emotional support and shared wins Friendship may not survive business stress Built-in trust and communication Conflict can become personal and hard to fix   Bottom line: Trust helps. But clarity and structure are what actually keep it together.       SIGNS YOUR FRIEND MIGHT BE THE WRONG PARTNER   Friendship is great.   But being business-ready is a different skill set.   Here are some red flags to watch for:   They talk big but get vague about the details They rely on your ideas, cash or contacts They avoid hard conversations They have not followed through on past projects They are more excited about being a business owner than doing the actual work They get defensive whenever money is mentioned Their personal life is a rollercoaster Gut check question: If you weren’t friends, would you still want to build a business with them?   If the answer is no, you’ve already made your decision.       WHAT A GOOD BUSINESS PARTNER LOOKS LIKE   You want someone who:   Gets things done without being chased Can handle stress without blowing up Understands money and decision-making Shares your values around work, risk, and responsibility Has a track record of finishing what they start Can run part of the business independently Is willing to talk through tough situations early And they need to respect this fact:   Just because you’re mates, doesn’t mean the rules don’t apply.       TEN NON-NEGOTIABLE RULES BEFORE YOU PARTNER   1. Do your due diligence on them. Check their track record. Speak to people they’ve worked with. Don’t skip this because you share a history.   2. Plan for the breakup on day one. How will one of you exit if things change? What’s the process? What’s the price?   3. Avoid 50-50 ownership without clear leadership. Someone has to be in charge. Deadlocks kill momentum. Give one partner operational control, or bring in a trusted third-party advisor.   4. Do not hand out equity based on future promises. If they are not investing cash, they earn equity through performance. No free rides.   5. Use vesting periods. Structure ownership to build over time. For example, 25 percent after one year, then the rest over three. It protects both of you.   6. Add a buy-back clause. This gives you the right to buy them out under agreed terms if they want out or underdeliver.   7. Agree on how to value the business up front. Use a multiple of profit, a fixed formula, or a valuation method both sides accept. Don’t leave it to emotion.   8. Put it all in writing. Every role. Every responsibility. Every dollar. Use a solicitor and make it real.   9. Keep outside voices out of the room. If their partner, sibling or old mate is whispering business ideas in their ear, it’s a problem. Only partners should be making decisions.   10. Let your solicitor ask the hard questions.They will push for clarity. That protects your friendship. That’s their job.       REAL EXAMPLE: WHERE IT ALL WENT WRONG   Two mates in regional NSW bought a mechanics workshop together.   One handled the workshop floor. The other managed admin and cash flow.   They started without a formal agreement. Things were great for six months.   Then the admin partner started missing days. Family stress. Health issues. Delayed bills.   The workshop partner picked up the slack.   Eventually, the working partner demanded to buy him out.   No valuation method had been agreed. The friendship soured.   They ended up in mediation. Legal fees topped twenty grand.   Lesson: No one thinks they’ll fight. Until they do.       PARTNERSHIP IS NOT ABOUT TRUST. IT'S ABOUT CLARITY.   You can trust your mate and still get everything in writing.   In fact, if you trust them, you’ll both want the same thing — structure.   If they resist structure, ask yourself why.   Because here’s the truth:   A good partnership will make business better.   A bad one will make every part of it harder.   If you are not both bringing something valuable to the table: time, cash, skills, systems... and you are not willing to spell it all out, then don’t do it.   Better to own a business solo than ruin a friendship trying to split one.     Your Next Step   Ready to find businesses that checks all you boxes?   Explore our current listings of Australian businesses for sale at BusinessForSale.com.au

  So, you’ve done your due diligence.   You’ve looked the seller in the eye.   You’ve seen the numbers, asked the awkward questions, and decided you’re ready to make an offer.   Now comes the part that makes most new buyers freeze.   How do you actually start negotiating the deal?   Do you send a formal letter? Do you loop in your solicitor immediately? Do you wait for the seller to name a number?   Let’s make it simple.   Here’s how to begin the negotiation process the smart way — with clarity, calm and control.       STEP ONE: PEOPLE BEFORE TERMS   Most people rush into deals trying to impress sellers with complex structures and long-winded term sheets.   That’s not how professionals start.   The first thing to assess isn’t the price or the payment plan.It’s the people.   Ask yourself two questions:   Will I make money from this business? Do I want to work with this person and their team during the transition? If the answer to either is no, walk.   If both are yes, keep going.   Because the success of the deal relies on relationships, not just spreadsheets.       STEP TWO: START WITH THE BLANK PAGE METHOD   Here’s how experienced dealmakers avoid paralysis by analysis.   They use what’s called the Blank Page Start.   It’s not legal paperwork. It’s not binding.   It’s a simple one-page outline that sets the tone.   It might look like this:   "Hey [Seller], we've agreed there might be a deal here. I want to buy your business for $X amount, using Y financing, based on Z terms and conditions."   Write it by hand or type it up, sign it yourself, and send it across with a message like:   "If these terms sound good to you, let's both sign this and I’ll get it over to my solicitor to prepare the deal."   This signals intent without scaring the seller or locking you into anything.   It keeps things human and grounded.   And most importantly, it gets the conversation moving.   Tip: Only bring in lawyers once both sides have signed the blank page. Not before.       STEP THREE: BE THE FIRST TO SET THE PRICE RANGE   Traditional advice says, “Never say your number first.”   That’s fine for poker. It’s bad for business.   Here’s why it works to go first when buying small businesses:   Most sellers have never done a deal before. Their expectations are based on emotion, not data. They often overvalue the business because they built it from scratch. If you hesitate, they’ll anchor to fantasy numbers they heard from mates or articles online. So instead of playing games, put your range on the table.   Example:   "Most small businesses sell between 1 to 5 times their net annual profit. Based on what I’ve seen, I’d value this one between $400,000 and $500,000."   You’ve just done two things:   Anchored the conversation in reality. Shown them you’ve done your homework. If the seller says, “But I want a million,”   you’re now in a position to calmly explain why that’s unrealistic, not from opinion, but from comps, financials and logic.       STEP FOUR: LET THE NUMBERS DO THE TALKING   Remind them that price is just one part of the deal.   Things that affect valuation include:   Revenue consistency Customer concentration Lease terms Staff turnover Equipment age Owner involvement Supplier agreements Seasonality Risk and dependency Make it clear that the number is not an attack.   It’s just the market reflecting what the business earns, what the buyer takes on, and what it will take to grow from here.   You’re not underpaying. You’re pricing for performance.       STEP FIVE: FINISH WITH CONFIDENCE AND KINDNESS   One last tactic. End the first negotiation conversation with a clear, respectful close.   Just like a great restaurant hands you a mint with the bill, you want to leave the seller with a good taste in their mouth.   Try something like this:   "I respect what you’ve built. If this business is going to keep thriving, we both need to win. I’m not here to squeeze you. I’m here to create a deal that works for both of us."   You may not remember your first words, but they’ll remember your last.   And you want to be remembered as a buyer who listens, understands and deals fairly.       FINAL WORD: YOU DON'T NEED TO BE A NEGOTIATION EXPERT   You don’t need to outsmart anyone.   You don’t need to wear a power suit or quote Shark Tank.   You just need to:   Start simple Stay clear Show respect And let the deal structure follow the relationship, not the other way around This is not a battle. It’s a transition.   You’re not taking their business. You’re carrying it forward.   Start that process the right way, and everything else will be smoother from here.     Your Next Step   Ready to find businesses that checks all you boxes?   Explore our current listings of Australian businesses for sale at BusinessForSale.com.au

  You’ve found a business that looks promising.   You’ve had the chats, peeked at the P&L, maybe even tasted the product.   Now you’re thinking: This could actually work.   This is where you stop dreaming and start digging.   Welcome to Phase 2: The Full Monty.       YOU’RE NOT JUST BUYING A BUSINESS. YOU’RE BUYING ITS PROBLEMS TOO.   Don’t get starry-eyed.   That café’s avocado toast won’t pay your mortgage if the books are cooked and the staff are ghosts.   This is the part where you put your grown-up pants on and ask the hard stuff.       WHAT TO LOOK AT (AND WHY MOST PEOPLE DON’T)   If Phase 1 was about what the seller told you, Phase 2 is about what the numbers and documents confirm.   You're going deeper than tax returns now. This is the full diagnostic.   Here’s what’s on the menu: Contracts and leases (especially rent — it’ll be your biggest fixed cost) Employee records and wage obligations (super, awards, leave accruals — all of it) Customer concentration (is this just one big account in disguise?) Supplier deals (any handshake agreements? Write. Them. Down.) Business structure and company debt Competitor landscape (and how they’re quietly gutting your margins) Cash handling and systems (is this thing running on spreadsheets and prayer?) And most importantly: What’s the break-even point?   If you’re putting down $350k, how long until you make it back?   12 months? 18? Or are you hoping Christmas and UberEats save you?       THIS IS WHERE BUYERS FREAK OUT   You’ll feel overwhelmed. That’s normal.    You’ll think, “I don’t even know what bylaws are.” That’s also normal.   Relax. You don’t need a law degree to do due diligence.   But you do need a system.   Get a good accountant. A switched-on lawyer.   A mate who’s been through it.   Or join a community that’s done this before.   Accountability beats anxiety — every time.       CUSTOMISE YOUR CHECKLIST. ONE SIZE DOESN’T FIT JACK.   Every deal is different. So treat it like one.   Buying a laundromat?   Count coins. Two days a week. For a month. Yes, literally.   Check the power bills.   Ask if the machines are under service contract and with whom.   No contract? That’s your 2am flood waiting to happen.     Buying a café?   Ask when the espresso machine was last serviced.   Check the POS system for voids and discounts.   Open the fridge and see what’s expired. Yes, seriously.     Buying anything with a lease?   Compare it to the neighbours.   If you’re paying double for the same square footage, guess who’s getting played?       RED FLAGS THAT SCREAM “RUN”   CASHFLOW DISCREPANCIES   Seller says they make $180k, but the tax return says $40k.   “Oh we do a lot of cash,” they say.   Translation? You’re buying a lie — and the ATO will come knocking.     CONSISTENTLY BAD GOOGLE REVIEWS   You can’t fix a bad reputation overnight.   Use it as leverage — or walk if the brand’s too cooked.     MISSING LICENCES   Seller says “Never needed one.”   But the council says you do.   No licence = no deal. End of story.       THIS IS THE WORK THAT MAKES YOU RICH (OR SAVES YOU FROM BEING BROKE)   Look, it’s tempting to get caught up in the excitement.   But this isn’t a new couch. You’re buying a future.   Ask the tough questions now — or answer to your regrets later.   If the seller gets defensive when you start asking for documents?   That’s the answer.   If everything checks out and the numbers hold?   Now you’re cooking with gas.   OWNERSHIP ISN’T A HOLIDAY. IT’S A TEST.   Phase 2 is where most wannabe buyers tap out.   But if you stay sharp, keep your wits, and trust the process?   You’ll not only survive this phase,   You’ll set yourself up to win the whole damn thing.     Your Next Step   Ready to find businesses that will pass your due diligence tests with flying colours?   Explore our current listings of Australian businesses for sale at BusinessForSale.com.au

  Here’s how it usually starts:   “Mate, we should buy this together.”   Simple. Exciting. Logical.   You like each other.   You trust each other.   Why not go halves?   But a few months later, it sounds more like:   “Why am I doing all the work while they disappear at 3pm every Friday?”   If you’ve ever thought about partnering with a mate, you’re not alone.   Plenty of smart people do it. Some get it right. Most learn the hard way.   This article is for anyone thinking about sharing ownership.   It’s not here to talk you out of it. It’s here to make sure you go in with your eyes open, your documents ready, and your expectations clear.       THE TRUTH ABOUT BUSINESS PARTNERSHIPS   Let’s be blunt. Most business partnerships fail.   Not because the idea was bad, but because the relationship couldn’t survive the pressure.   When you add money, customers, legal risk, long hours, and family stress to the mix, even the strongest friendships can crack.   These are the most common reasons partnerships fall apart:   One partner carries more of the load Decision-making becomes slow or deadlocked One wants to reinvest while the other wants to pull out profits Expectations were never written down Personal lives start interfering with business commitments What started as “we’re in this together” becomes “I can’t keep doing this with them.”       PROS AND CONS OF PARTNERING WITH A FRIEND   To be clear, partnerships can work.   They just require more structure than most people think.   -Here’s how it breaks down:   Potential Benefits Potential Risks Share the financial burden Share every decision, even the messy ones Complementary skills One person may end up doing more than the other Emotional support and shared wins Friendship may not survive business stress Built-in trust and communication Conflict can become personal and hard to fix   Bottom line: Trust helps. But clarity and structure are what actually keep it together.       SIGNS YOUR FRIEND MIGHT BE THE WRONG PARTNER   Friendship is great.   But being business-ready is a different skill set.   Here are some red flags to watch for:   They talk big but get vague about the details They rely on your ideas, cash or contacts They avoid hard conversations They have not followed through on past projects They are more excited about being a business owner than doing the actual work They get defensive whenever money is mentioned Their personal life is a rollercoaster Gut check question: If you weren’t friends, would you still want to build a business with them?   If the answer is no, you’ve already made your decision.       WHAT A GOOD BUSINESS PARTNER LOOKS LIKE   You want someone who:   Gets things done without being chased Can handle stress without blowing up Understands money and decision-making Shares your values around work, risk, and responsibility Has a track record of finishing what they start Can run part of the business independently Is willing to talk through tough situations early And they need to respect this fact:   Just because you’re mates, doesn’t mean the rules don’t apply.       TEN NON-NEGOTIABLE RULES BEFORE YOU PARTNER   1. Do your due diligence on them. Check their track record. Speak to people they’ve worked with. Don’t skip this because you share a history.   2. Plan for the breakup on day one. How will one of you exit if things change? What’s the process? What’s the price?   3. Avoid 50-50 ownership without clear leadership. Someone has to be in charge. Deadlocks kill momentum. Give one partner operational control, or bring in a trusted third-party advisor.   4. Do not hand out equity based on future promises. If they are not investing cash, they earn equity through performance. No free rides.   5. Use vesting periods. Structure ownership to build over time. For example, 25 percent after one year, then the rest over three. It protects both of you.   6. Add a buy-back clause. This gives you the right to buy them out under agreed terms if they want out or underdeliver.   7. Agree on how to value the business up front. Use a multiple of profit, a fixed formula, or a valuation method both sides accept. Don’t leave it to emotion.   8. Put it all in writing. Every role. Every responsibility. Every dollar. Use a solicitor and make it real.   9. Keep outside voices out of the room. If their partner, sibling or old mate is whispering business ideas in their ear, it’s a problem. Only partners should be making decisions.   10. Let your solicitor ask the hard questions.They will push for clarity. That protects your friendship. That’s their job.       REAL EXAMPLE: WHERE IT ALL WENT WRONG   Two mates in regional NSW bought a mechanics workshop together.   One handled the workshop floor. The other managed admin and cash flow.   They started without a formal agreement. Things were great for six months.   Then the admin partner started missing days. Family stress. Health issues. Delayed bills.   The workshop partner picked up the slack.   Eventually, the working partner demanded to buy him out.   No valuation method had been agreed. The friendship soured.   They ended up in mediation. Legal fees topped twenty grand.   Lesson: No one thinks they’ll fight. Until they do.       PARTNERSHIP IS NOT ABOUT TRUST. IT'S ABOUT CLARITY.   You can trust your mate and still get everything in writing.   In fact, if you trust them, you’ll both want the same thing — structure.   If they resist structure, ask yourself why.   Because here’s the truth:   A good partnership will make business better.   A bad one will make every part of it harder.   If you are not both bringing something valuable to the table: time, cash, skills, systems... and you are not willing to spell it all out, then don’t do it.   Better to own a business solo than ruin a friendship trying to split one.     Your Next Step   Ready to find businesses that checks all you boxes?   Explore our current listings of Australian businesses for sale at BusinessForSale.com.au

  So, you’ve done your due diligence.   You’ve looked the seller in the eye.   You’ve seen the numbers, asked the awkward questions, and decided you’re ready to make an offer.   Now comes the part that makes most new buyers freeze.   How do you actually start negotiating the deal?   Do you send a formal letter? Do you loop in your solicitor immediately? Do you wait for the seller to name a number?   Let’s make it simple.   Here’s how to begin the negotiation process the smart way — with clarity, calm and control.       STEP ONE: PEOPLE BEFORE TERMS   Most people rush into deals trying to impress sellers with complex structures and long-winded term sheets.   That’s not how professionals start.   The first thing to assess isn’t the price or the payment plan.It’s the people.   Ask yourself two questions:   Will I make money from this business? Do I want to work with this person and their team during the transition? If the answer to either is no, walk.   If both are yes, keep going.   Because the success of the deal relies on relationships, not just spreadsheets.       STEP TWO: START WITH THE BLANK PAGE METHOD   Here’s how experienced dealmakers avoid paralysis by analysis.   They use what’s called the Blank Page Start.   It’s not legal paperwork. It’s not binding.   It’s a simple one-page outline that sets the tone.   It might look like this:   "Hey [Seller], we've agreed there might be a deal here. I want to buy your business for $X amount, using Y financing, based on Z terms and conditions."   Write it by hand or type it up, sign it yourself, and send it across with a message like:   "If these terms sound good to you, let's both sign this and I’ll get it over to my solicitor to prepare the deal."   This signals intent without scaring the seller or locking you into anything.   It keeps things human and grounded.   And most importantly, it gets the conversation moving.   Tip: Only bring in lawyers once both sides have signed the blank page. Not before.       STEP THREE: BE THE FIRST TO SET THE PRICE RANGE   Traditional advice says, “Never say your number first.”   That’s fine for poker. It’s bad for business.   Here’s why it works to go first when buying small businesses:   Most sellers have never done a deal before. Their expectations are based on emotion, not data. They often overvalue the business because they built it from scratch. If you hesitate, they’ll anchor to fantasy numbers they heard from mates or articles online. So instead of playing games, put your range on the table.   Example:   "Most small businesses sell between 1 to 5 times their net annual profit. Based on what I’ve seen, I’d value this one between $400,000 and $500,000."   You’ve just done two things:   Anchored the conversation in reality. Shown them you’ve done your homework. If the seller says, “But I want a million,”   you’re now in a position to calmly explain why that’s unrealistic, not from opinion, but from comps, financials and logic.       STEP FOUR: LET THE NUMBERS DO THE TALKING   Remind them that price is just one part of the deal.   Things that affect valuation include:   Revenue consistency Customer concentration Lease terms Staff turnover Equipment age Owner involvement Supplier agreements Seasonality Risk and dependency Make it clear that the number is not an attack.   It’s just the market reflecting what the business earns, what the buyer takes on, and what it will take to grow from here.   You’re not underpaying. You’re pricing for performance.       STEP FIVE: FINISH WITH CONFIDENCE AND KINDNESS   One last tactic. End the first negotiation conversation with a clear, respectful close.   Just like a great restaurant hands you a mint with the bill, you want to leave the seller with a good taste in their mouth.   Try something like this:   "I respect what you’ve built. If this business is going to keep thriving, we both need to win. I’m not here to squeeze you. I’m here to create a deal that works for both of us."   You may not remember your first words, but they’ll remember your last.   And you want to be remembered as a buyer who listens, understands and deals fairly.       FINAL WORD: YOU DON'T NEED TO BE A NEGOTIATION EXPERT   You don’t need to outsmart anyone.   You don’t need to wear a power suit or quote Shark Tank.   You just need to:   Start simple Stay clear Show respect And let the deal structure follow the relationship, not the other way around This is not a battle. It’s a transition.   You’re not taking their business. You’re carrying it forward.   Start that process the right way, and everything else will be smoother from here.     Your Next Step   Ready to find businesses that checks all you boxes?   Explore our current listings of Australian businesses for sale at BusinessForSale.com.au

  Most people think you need hundreds of thousands of dollars and a bank loan to buy a business.   Not true.   In many cases, businesses are closing down not because they’re worthless, but because the owners are tired, retiring, or simply ready to move on.   And in those moments, opportunity appears.   If you act with empathy, timing, and a clear offer, you can acquire real value: customers, cash flow, staff, even entire operations, without needing huge amounts of capital up front.   This article breaks down four real, practical strategies that smart buyers are using right now to acquire businesses that are shutting down.       1. CUSTOMER TRANSFERS THROUGH EXIT AGREEMENTS   When a business closes, its customers don’t just vanish.   They need somewhere to go.   Smart buyers position themselves as that “somewhere” and they do it by partnering with owners before the doors officially close.   Example:   Brittany owned a gym. When nearby fitness studios began shutting during COVID, she didn’t wait. She reached out and made a deal with one of the owners:   The gym that was closing sent an email to its members, recommending Brittany’s gym as their new home. Brittany agreed to pay the former owner a share of the new member revenue for the first six months. She invited those customers to a special welcome event and gave them a warm handover experience. She even offered the original owner a part-time role as a trainer or advisor. The result? Brittany gained over $100,000 in new revenue and built a reputation as a safe landing zone for former members.   Why this works:   The outgoing owner keeps their reputation intact.   Customers are taken care of.   You grow your client base.   No one loses face.   Tip: This can work in any service business: fitness, childcare, health, beauty, even trades, anywhere there is a recurring or loyal customer base that needs continuity.       2. REFERRAL DEALS WITH RETIRING OR EXITING OWNERS   When a business closes, its database becomes one of the most valuable remaining assets.Emails, past clients, website traffic, Google reviews, it’s all sitting there with nowhere to go.   Instead of watching that value disappear, step in and turn it into a referral engine.   Example:   Peter owned a restaurant. A nearby competitor was shutting down. Rather than ignore it, he made an offer:   The owner of the closing restaurant sent one final email to their 15,000-person list. It included a heartfelt farewell and a special 25 percent discount at Peter’s place. Peter paid a referral fee for each customer who used the code. Within weeks, Peter had gained dozens of loyal new customers.   The former owner made a few thousand dollars on the way out. Everyone won.   Why this works:   The exiting business gets one final income stream. You acquire customers for a fraction of the normal cost. There’s no risk of being seen as aggressive or opportunistic. Tip: Keep it personal. Make sure the referral comes directly from the owner. People are far more likely to follow someone they trust.       3. TURNAROUND DEALS WITH PROFIT-SHARING INSTEAD OF CASH   Not every business that shuts down is a failure. Some are simply stuck.   The owners might be burnt out, overwhelmed, or unsure how to take it further.   That’s where you can step in, not with a big cheque, but with a better offer.   How it works:   You agree to take over the business and improve it. You offer the seller a percentage of future profits, rather than a large upfront payment. You reduce their risk while giving them long-term upside. Example:   Drew built a business portfolio by acquiring small websites and digital businesses that were no longer active.   He didn’t offer money upfront. He simply proposed a 30 percent share of any profit he generated after taking control.   Owners were happy to walk away with no pressure.   He rebuilt the businesses using simple improvements.    Within months, they were generating income and paying the original owners more than they expected.   Why this works:   The seller gets peace of mind and potential income. You avoid risky debt or overpaying for underperformance. You only pay if the business actually works. Tip: Make sure everything is documented. Profit-sharing agreements should be clear, with agreed timeframes, reporting, and exit clauses.       4. ACQUIRING STAFF AND TALENT FROM CLOSING BUSINESSES   Sometimes, you don’t want the business.   You want the people.   Experienced staff, loyal teams, and well-trained service providers are extremely valuable, especially when hiring is tough.   If you find out a business is closing, you can approach the owner and propose a respectful transition for key team members.   How this works:   You speak to the owner before closure and offer to interview their team. You guarantee a smooth onboarding for their staff and clients. You may offer a small incentive to the owner to assist with the transition. Staff keep their jobs, and you gain a team without recruitment headaches. Example: A childcare centre in a regional town closed due to the owner’s health.   A nearby centre offered to hire the team, absorb the enrolled families, and continue the program with minimal disruption.   The transition was calm, respectful and retained almost the entire staff base.   Why this works:   You protect jobs. You gain proven staff. You build goodwill in the community. The former owner protects their legacy. Tip: Make the transition process professional and structured. You want staff and clients to feel confident, not anxious.       WHAT MAKES THESE STRATEGIES EFFECTIVE   They rely on relationships, not capital. They solve problems for the seller and provide real value in return. They minimise risk, while maximising opportunity. They’re often faster and less complex than full acquisitions. They build trust, goodwill and a strong reputation in your industry.       YOU DON'T NEED BIG MONEY TO BUY REAL VALUE   Buying a business doesn’t always mean writing a big cheque.   Sometimes, the best deals happen when a seller just wants out, cleanly, fairly, and with dignity.   If you can offer that, you don’t need to compete on price.   You compete on value.   These strategies work because they help everyone win.   The seller exits with confidence.   You gain customers, cash flow, or talent.   The clients get continuity.   The staff get stability.   That’s not just a clever deal. That’s a good one.   So next time someone says, “Yeah, we’re shutting down next month,” you know what to do.   Ask the right questions.   Make a smart offer.   And build something better with what others are walking away from.   That’s how smart buyers grow: one good conversation at a time.     Your Next Step   Ready to find businesses that checks all you boxes?   Explore our current listings of Australian businesses for sale at BusinessForSale.com.au

CouriersPlease, one of Australia’s largest franchised courier services, has taken a major step to ensure its trajectory continues to track upwards with the implementation of its 'Franchise of the Future' program led by CEO Richard Thame. Richard’s efforts in revitalising the franchising model, and in a fully sustainable manner – as well as his progress in promoting sustainability, mental health and workforce diversity – has just earned him the #1 ranking in the Franchise Business’ Top 30 Franchise Executives awards. Richard oversees a national network of more than 1200 Franchise Partners and delivery partners, 400-plus freight handlers and 15 major depots across nearly 850 active territories. He is also a director of the Franchise Council of Australia. A major focus for Richard in the last year has been to revitalise and future-proof the franchise model at CouriersPlease. The 'Franchise of the Future' program is a key part of CouriersPlease's commitment to reducing its environmental impact and promoting sustainable practices. It includes electric delivery vehicles – currently being trialled – and a carbon calculator to measure emissions across the delivery journey. Richard has also led the opening of a 5-star green-rated Gold Coast depot and initiated a switch to franchisee uniforms made from recycled materials. As well as his vision of how franchises should look in the future and implementing a strategy to deliver on that vision now, Richard was also recognised by the award judges for driving a $5 million investment in a multi-year program called ‘Digital Futures’ that will transform business communications and operations. Richard's commitment to mental health and diversity has resulted in a more skilled and diverse network of Franchise Partners, comprising older and young Australians, migrants, and women. The CouriersPlease leadership team today is 59 per cent women, including the COO, Janine Zammit, and three (out of five) State managers – a testament to Richard’s commitment to grow women into leadership roles in what is a traditionally male industry. Richard was commended for directing improvements to the company’s People Assist program, which helps CouriersPlease staff, Franchise Partners, contractors, and families access free mental health support. Richard said: \"I am proud to lead initiatives that promote sustainability, mental health, and diversity within our business. Our Franchise Partners and employees are integral to our success, and it is crucial that we create a supportive and inclusive environment where everyone can thrive.\" Recognising the critical role that CouriersPlease’s network of Franchise Partners play in the overall success of the business, Richard created the new role of Head of Franchising – which advocates for, and champions, Franchise Partner businesses. James Hucker, who recently stepped into this role, also made the top 30, coming in at number four. It’s the second year in succession that James has made the list for his work at CouriersPlease. James has been with CouriersPlease for more than 22 years. The relationships he builds with the company’s Franchise Partners is second to none, and it was his efforts in growing CouriersPlease’s Franchise Partner network during the pandemic and eCommerce boom, as well as his deep understanding of Franchise Partner needs and delivering upon those, that helped earn him the recognition by the award judges. Additionally, James’ great work in boosting operational practices, particularly around managing driver fatigue, has been instrumental in improving franchisee safety under heavy workloads, and helped secure his position as one of the leading lights in the franchise industry. “In my role, success is defined by two critical components - one is achieving the overall business objectives, and the second is ensuring a reasonable work-life balance for myself and the Franchise Partner/employee teams that I manage,” he said.     For more information, please contact:Lydia Spooner | 02 9279 3330 | 0402 232 042theideassuite.com.au   About CouriersPlease  CouriersPlease is a leading courier and freight service that delivers tens of millions of parcels each year through over 800 Franchise Partners. CouriersPlease offers a network of pick up and drop off locations comprising more than 1300, often 24/7 parcel collection locations. Owned by Singapore Post (SingPost], a leader in E-Commerce logistics which provides innovative mail and logistics solutions in Singapore and around the world, with operations in 19 markets. CouriersPlease is a multi-award-winning courier service. Among its many achievements, in 2021 CouriersPlease took out top spot in the Canstar Blue Most Satisfied Customers ranking for small business courier services. Visit couriersplease.com.au

If you lodge your business activity statement (BAS) quarterly, your next statement is due on 28 February. Here are our latest tips to help you complete your BAS. Lodge and pay online. It's quick, easy and secure, and you may receive an extra 2 weeks to lodge and pay. You’ll receive notifications to help you get it right and avoid mistakes before you lodge. Fuel tax credit rates changed from 1 February 2023. Use the fuel tax credit calculator to correctly calculate your claim. Lodge online via Online services for individuals and sole traders (accessed through myGov], Online services for business or Standard Business Reporting-enabled software. You can pay your BAS with BPAY or a credit/debit card. You can also pay securely online using our Online services. Even if you have nothing to report, you still need to lodge your BAS as 'nil'. If you lodge online, you don't need to send us the paper form. If you're unable to lodge or pay on time, engage with us early to discuss your options. Remember, you can lodge your BAS through a registered tax or BAS agent. For more information visit www.ato.gov.au

If you're a director of an Australian company you must apply for your director identification number (director ID) by 30 November 2022. While it might be tempting to wait until the deadline, we encourage you to apply now – the fastest way to apply is by using the myGovID app to log in to ABRS online. Once you've logged in, you'll need to verify your identity with information we have on record. The most commonly used documents include: details of the bank account where your tax refunds or payments are made and received  an ATO notice of assessment.  You may need to contact your agent to request this information. You can check if your business is registered as a company with ASIC at ASIC Connect. You don't need a director ID if you're running a business as either a sole trader or partnership. Not sure if you need to apply? You can check if you need a director ID at who needs to apply. Our director ID demonstration video takes you through the steps you need to complete to apply for your director ID online. For more information visit www.ato.gov.au