1. Decide if Buying Is Right for You
Before you dive in, ask yourself:
- Do you have industry knowledge or experience?
- Will you manage daily operations or oversee from afar?
- What’s your lifestyle expectation, work hours, capital constraints?
Buying gives you immediate cash flow, an existing team, and brand equity. But success often depends on how well your skills match the business.
If you’re unsure, our team can help you evaluate whether buying or building is your best path forward.
2. Define Your Criteria & Search Strategy
Set your filters early—these will narrow your search and help avoid distractions. Consider:
- Location and geographic radius
- Industry or business model (retail, services, hospitality, SaaS, etc.)
- Annual revenue / EBITDA range
- Owner involvement and systems maturity
Use online listings, local networks, and brokers like us to uncover opportunities. We publish curated, high-quality businesses at The Brokerage Connection.
3. Ask Smart Questions to Screen Opportunities
When you express interest in a business, use these initial questions to assess viability:
- What is the current lease term and rent escalation?
- Why is the owner selling?
- How many hours per week does the current owner work?
- Can I access a memorandum or financial summary after signing an NDA?
These questions help you filter out poor fits before investing time.
4. Review & Validate Information
Once you have documentation, dig deeper:
- Scrutinise P&L, balance sheet, cash flow
- Check for one-off or non-business expenses
- Verify supplier contracts, customer lists, and dependencies
- Examine lease agreements, equipment ownership, and liabilities
During this stage, we often guide buyers using our valuation tools and readiness checklists to spot red flags or value gaps.
5. Conduct Due Diligence
Due diligence is where you confirm everything. Engage professionals to assist you (accountants, lawyers, brokers). Focus on:
- Financial and tax history
- Legal contracts and employee agreements
- Intellectual property, warranties, and liabilities
- Operational systems, software, SOPs
- Customer concentration, market risk, growth potential
At The Brokerage Connection we help buyers structure due diligence frameworks customized to each industry.
6. Negotiate with Precision
When negotiating:
- Use a Head of Agreement (HOA) or term sheet to outline essentials
- Include clauses for deposit refunds, contingencies, post‑sale training, or deferred payment
- Negotiate transition terms, non‑compete periods, or optional earn-outs
Strong negotiation sets expectations and protects your investment.
7. Exchange Contracts & Finalise Sale
Once terms are settled, move toward formal contracts:
- Contracts should clearly define assets included, liabilities, and terms
- Seek clarity on trigger clauses, escrow, conditions, or handover
- Plan the transition: training, handover documents, client introductions
We help our clients at The Brokerage Connection manage this phase to ensure a clean, confident handover.
8. Run the Business with Confidence
Post-transaction, your focus shifts to execution:
- Implement your growth strategy
- Maintain or improve processes and customer service
- Monitor KPIs, cash flow, and team performance
- Be prepared to adapt and grow
Buying a business is just the start—bold and intelligent execution ensures you succeed.
Final Thoughts & Next Steps
Buying a business is a complex journey. Do it right, and you’ve shortcut years of startup risk. Do it without preparation, and uncertainties multiply.
If you’re considering acquiring a business in Sydney, Brisbane, Melbourne or beyond, our team is here to help. We offer advisory support, valuation tools, deal structuring assistance, and buyer matching services.
🔍 Start with a confidential consultation
👉 Visit The Brokerage Connection
👉 Check out our buyer support and valuation services
Let’s help you find the right business—and the right path forward.
