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4 Ways to Attract Buyers for Your Business
4 Ways to Attract Buyers for Your Business 940 529 Richard Willis

When a business owner decides to sell the business, one of the main questions on their mind is: “How will I attract buyers?” After spending years growing the business, it can be scary to sell it because no one really knows how many buyers out there are looking for your type of business. In reality,…

How to Choose a Business That’s Right for You
How to Choose a Business That’s Right for You 940 600 Richard Willis

Once you’ve decided to start an entrepreneurial journey, the first step is deciding which type of business you want to start. From restaurants and retail stores to automobile manufacturing, there are many options to choose from. But how do you choose a business that’s right for you? Read on and find out! Identify the Industry…

Common Business Sales Myths
Common Business Sales Myths 940 600 Richard Willis

For most business owners, selling their business is a huge decision. And when you enter the business sales grounds, you might find that there are many myths about selling a business that are based on a singular transaction. Keep reading to find out some of the common myths! You Will Receive the Full Asking Price…

6 Reasons to Buy a Franchise
6 Reasons to Buy a Franchise 150 150 Richard Willis

Buying a franchise can be an exciting venture. A well-designed franchise system can be an excellent way to expand or buy a new business. So why exactly can this option be beneficial for you? Below are the top 6 reasons why you should consider investing in a franchise. 6. Proven System When you purchase a franchise,…

How do you show value to customers?
How do you show value to customers? 150 150 Richard Willis

Here are 5 steps you can take: Understand what drives value for your customers. … Understand your unique value proposition. … Identify the customers and segments where are you can create more value relative to competitors. … (market and competitor analysis Create a win-win price. … Focus investments on your most valuable customers – apply…

Essential to build good business relationships!
Essential to build good business relationships! 150 150 Richard Willis

Great business relationships aren’t as mysterious or complicated as you might think. Set a positive tone for your company (culture). Know your unique value proposition. Find win-win for both parties. Err on the side of humility. Embrace your own personality. Manage client expectations – don’t over promise and under deliver. Keep the lines of communication…

Basis of Business Breakeven
Basis of Business Breakeven 150 150 Richard Willis

Break-even is an economic condition that occurs when the difference between a firm’s revenue and cost is equal to zero. Simply put, break-even is the minimum level of needed for a company to not to go broke! Break-even looks are both Fixed and Variable costs, as well as Income. Fixed cost don’t change (eg., Rent).…

Sell my Business Australia
Sell my Business Australia 150 150 Richard Willis

How much profit should a business make? Profits are hard to come by – Profit ranges from 5 percent for a startup to 20 percent for a mature, established $10 million-plus business. As a business grows it has to start hiring more people. Each employee in a small business drives the margins lower. One study…

What is Earnings Before Interest and Taxes EBIT?
What is Earnings Before Interest and Taxes EBIT? 150 150 Richard Willis

In accounting and finance, earnings before interest and taxes (EBIT) is a measure of a firm’s profit that includes all incomes and expenses (operating and non-operating) except interest expenses and income tax expenses.

How do I calculate total revenue profit?
How do I calculate total revenue profit? 150 150 Richard Willis

Economics – profit and revenue Total revenue (TR): This is the total income a firm receives. This will equal price × quantity. Average revenue (AR) = TR / Q. Marginal revenue (MR) = the extra revenue gained from selling an extra unit of a good. Profit = Total revenue (TR) – total costs (TC) or…