Points to Remember: Buying / Operating / Selling a Business (Retail)

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Points to Remember Buying/ Operating/ Selling
a Business (Retail)
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K
Buying a Business
Selling a Business
Operating a Business
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Buying Choose Correct Field by Experience,
Knowledge or Passion Look for right Location,
Brand Price Do a Business Plan with
comprehensive Financial Planning Get an Expert
Valuation of the Business Equip with adequate
Training Make sure that you are trained and
ready Hire right Staff Happy Trading
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Operating Customer Service should be No.1
Priority Train Staff regularly Train yourself
regularly Update and concentrate on Stock,
Category management Merchandising Maintain
Competitive Pricing Promotions Presentation of
the Store Develop a Point of Difference from
other similar stores You Working Hard is always
effective but do not burn yourself out by working
too hard Work on the business NOT IN the business
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Selling Exit Planning should start as soon as
you buy a Business Determine a Time frame based
on your needs to sell Plan ahead Be safe
ready Accept Reality (market demand is subject to
change may not be always what we want) Price
the Business for Right Value, dont overvalue the
Business Prepare all the necessary paperwork with
Accountant Select a Right Proactive Agent
Reputable Firm with Industry Knowledge Happy
Selling Look for New Opportunities
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Contact Info AddressBroker Support Centre,
Suite 104, Bermuda Point, 20 Lake Orr Drive.
Varsity Lakes, QLD 4227 Australia Phone
number1300 366 521 (toll-free)61 7 5562 2711
(international)07 5562 2744 (fax) E-mailadmin_at_b
enchmarkbusiness.com.au