At Avenue Solutions we help many people buy and sell small businesses. By way of example, we have acted in the sale or purchase of the following kinds of businesses (just to name a few):

  • child play centres
  • restaurants / cafes
  • pubs and hotels
  • online stores
  • accounting practices
  • allied health practices
  • import / export businesses
  • gyms, health centres and dance schools
  • IT businesses
  • photography services
  • packaging and transport services
  • food retail / stores
  • homewares and galleries
  • newsagency / tatts
  • cleaning services
  • fast food franchise
  • and plenty more……..

See below for details about the typical process of selling and buying a small business in Victoria and what is included in our fixed fee of $3,300 (which applies to business with a sale/purchase price not exceeding $350,000.00). Or, if you prefer, you can use our low hourly rate of $159 – the choice is yours.

BUYING A SMALL BUSINESS

Our fixed fee includes all usual legal work associated with a standard business purchase, but does not include additional work in connection with franchises or liquor licences (both of which involve additional work and fees). The typical activities associated with the purchase of a small business are described in the table below:

ActivityIncluded in fixed fee?
Initial meeting to discuss proposed business, purchasing structure (e.g. sole trader, company etc), purchase finance, business planning, basic taxation, and general advice about the purchase process and what to expectYes
Establish purchasing structure (e.g. company, trust, partnership)No – if a structure is required, we can provide this service on a fixed fee basis. See our fees page or contact us for details.
Review and advice relating to section 52 statement (vendor disclosure), contract of sale and leaseYes
Review of franchise agreement and associated documentsNo – franchise documents are additional documents to the standard sale process. Additional fees range from $440 - $1100 depending on franchise involved.
Negotiate amendments to purchase documents (if applicable)Yes
Advice and assistance on execution of purchase documents and effecting exchange of contract of saleYes
Prepare and negotiate assignment / transfer of lease (if applicable)Yes
Order searches, prepare settlement adjustments and settlement checklistYes
Attend settlement to ensure transfer of all business assets in accordance with contractYes
Accounting and taxation services in connection with purchase of small businessNo – our qualified accountants can provide accounting and taxation services in connection with the purchase of a small business, usually on a fixed fee basis. Please ask us for more information.

SELLING A SMALL BUSINESS

Our fixed fee includes all usual legal work associated with the sale of a small business, but does not include additional work in connection with franchises or liquor licences (both of which involve additional work and fees). The typical activities associated with the sale of a small business are described in the table below:

ActivityIncluded in fixed fee
Initial meeting to discuss proposed sale, including method of sale (asset / structure sale), inclusions / exclusions, basic taxation advice, timeframes, and process for the sale transactionYes
Prepare section 52 statement (vendor disclosure) ready for completion of accountant’s certificate, prepare contract of sale and associated sale documentsYes – please note that s52 requires input by a qualified accountant. Usually this will be prepared by your own accountant, if you have one. If you do not have an accountant, we can prepare this certificate usually for a fixed fee between $264 and$440.
Negotiate amendments to sale documents (if applicable)Yes
Advice and assistance on execution of sale documents and effecting exchange of contract of saleYes
Review lease and seek landlord consent to transferYes
Take steps to arrange or facilitate asset transfers (i.e. registered business names, trade marks, business contracts and arrangements)Yes
Review adjustment items on settlement, prepare settlement checklistYes
Attend settlement to ensure transfer of all business assets in accordance with contract and receipt of purchase moniesYes
Accounting and taxation services in connection with sale of small businessNo – our qualified accountants can provide accounting and taxation services in connection with the sale of a small business, usually on a fixed fee basis. Please ask us for more information.

OTHER SERVICES

We want your new business to be successful! To help ensure that it is, we also offer a range of services designed to help you in the planning stages, the establishment / purchase stage, and the growth stage. Our services include:

ServiceFee (inc. GST)
Initial Consult – during this consult you can discuss a diverse range of issues with one of our Advisers, including everything from business viability, business structure, business names and trademarks, websites, cash flow and budgeting, accounting and bookkeeping, taxation, employment and much, much more$99.00
Business Starter Package – this unique service offering provides you with a consult with each of the following:

• Lawyer (approx. 45 mins)
• Accountant (approx. 45 mins)
• Marketing expert (approx. 1 hour)
• Insurance broker (approx. 15 mins)
• Business development expert (approx. 1 hour)
$499.00

We can also refer you to specialist advisers on request including financial planners, marketing experts, insurance brokers and business development experts. Ask us for more information.