BUYING AND SELLING A BUSINESS - CAMPBELLS LEGAL
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BUYING AND SELLING A BUSINESS

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We understand the issues you deal with as business owners. As small business owners ourselves, they’re the issues we deal with too.

This means our advice, whether you’re buying or selling a business, is practical, reliable and relevant.

BUYING

When you sign a contract to buy a business – there’s a lot about the business that you don’t know.

We tailor your contract to put you in the best position possible, so you can sign with confidence.

Knowledge is power. We add contract conditions so you can find out everything you need to know about the business and can get out of the purchase if you need to.

We’ll make sure you’re happy with:

  • the lease for the premises – we’ll review it and explain your obligations, what you’ll have to pay for, any options to renew, and what happens when the lease is up; and
  • the financial records – we’ll make sure you get all the records you need to confirm the business is performing well;
  • any franchise documents that apply to the business – we’ll review and explain your rights and obligations; and
  • we’ll make sure you can get out of the contract if you’re not.

We can even help you set up a new company or trust entity for the purchase.

So there’s a smooth transition from the seller to you, we’ll make sure:

  • all equipment owned by the seller is transferred to you, free of any loan or security;
  • you only pay for ongoing employee entitlements from when you take over;
  • the business name, website and phone numbers are transferred to you;
  • the seller provides you with training and introduces you to customers and suppliers; and
  • the seller can’t open up a new local business in competition with yours.

And we’re here for you whenever you need us – you can contact us if any issue comes up.

Here’s what you need to do

We’ve helped hundreds of Queenslanders get off to a great start in their new businesses. And we’d love to help you too.

Give us a call before you sign anything and we’ll make sure the contract has the conditions you need.

If you’ve got draft contract, you can forward it to us at: solicitors@campbellslegal.com.au

SELLING

You’ve worked hard to build up your business. We work hard to make sure the sale goes through for you.

We’ll make sure it’s a smooth transaction from signing to settlement, by:

  • advising you on conditions and timeframes;
  • making changes so the contract suits you and won’t interfere with your day to day running of the business;   
  • including conditions to protect your business assets and confidential information;
  • guiding you through the process – so you fulfil your obligations and are ready for settlement;
  • coordinating with the landlord’s solicitor to make sure your lease is properly assigned to the buyer; and
  • making sure you won’t be responsible for anything related to the business after the sale goes through.

We’ve represented sellers for over 35 years. And we’ve held countless sales together when issues have come up – managing the buyer and landlord’s solicitors to make sure the sale goes through.

Here’s what you need to do

If you have a potential buyer, we can prepare a contract from scratch for you. Give us a call and we can get things started.

If you’re using an agent, send any draft contract to solicitors@campbellslegal.com.au and we’ll tailor the terms to suit you, before you sign.