Frequently Asked Buying Questions
No. Buyers do not incur any fees or charges for seeking information on listings or speaking with one of our brokers.
While our brokers work as a team we believe that you are best served by dealing with the one person. At Klemms, all of our brokers can sell you any of the businesses that we have available for sale.
Yes. Our policy requires the purchaser to sign a Confidentiality Agreement and provide a current photo ID to ensure that proprietary information relating to the business in question remains confidential. Privacy & discretion are a fundamental and mandatory pre-requisite of our processes designed to protect the vendor's business and intellectual property.
Once you have signed a Confidentiality Agreement you will be provided with further information about the business such as location, financials, lease and any other documentation the vendor has made available.
Yes. We strongly recommend that you obtain the services of independent legal and financial advisors to ensure that your legal, financial and taxation matters are correctly handled.
Klemms provides in-house drafting of the prescribed Contract of Sale for the business, however, it is advisable to seek independent advice before signing any documents. Our contract drafting will save you time and money and is the prescribed Contract of Sale provided by the Business Licencing Authority in Victoria (BLA).
Often a trial period, and a training period, are included in the contract as a condition of the sale. Typically, in the hospitality industry, the trial period is carried out for two weeks prior to settlement. The training period may be during the trial period, or immediately after settlement, and usually runs for two weeks. Training would cover how the business operates and how to run it successfully going forward.
It is important to note that training arrangements are unique to every business. For larger, complex businesses or simply where the buyer requires more training, additional training can also be negotiated contractually with the vendor.
Occasionally. Some vendors do depending on the security being offered, the experience of the purchaser and whether the vendors are comfortable with them. The arrangement should be legally formalised and should cover such things as amount borrowed, term of loan, interest rate, security being offered, repayment schedule etc.
Yes. Klemms have assisted many buyers purchase businesses in this way.
Contact any one of our business brokers via mobile or email, you can find the details to all our brokers on the “Meet the Team” page. You can also contact our office directly, we’re open Monday to Friday from 9am to 5pm, phone 03 9819 4211, via email – firstname.lastname@example.org or our website www.klemms.com.au. If you would like to schedule an appointment, call us, or send a request with preferred times and we will be happy to organise one right away.
Having made the decision to make an offer on one of our business listings, you will generally follow the process outlined below. Your broker will keep you informed of immediate next steps and key dates related to the buying process.
Klemms has been specialising in the purchase and sale of businesses in Victoria since 1946.
Since then we have literally sold thousands of businesses making us one of Australia’s premier business brokers.
There are many reasons why you should see us when looking for a business: