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Due diligence checklist

Due diligence checklist

What to ask for before you make an offer. Print it, tick it off, and do not skip the lease.

Financials

Three years of accountant-prepared profit and loss and balance sheets
BAS lodgements and ATO portal printouts for the same period
Bank statements that reconcile to the accounts
A list of add-backs with evidence for each
Aged debtors and creditors
Stock count and valuation method

Lease and premises

The lease, every variation and the disclosure statement
Remaining term, options and the rent review method
Outgoings, make-good obligations and the landlord's consent to assign
Any planning, heritage or use restrictions

Staff

Employee list with award, classification, hours and start dates
Accrued leave and long service leave
Written contracts and any disputes
Who the key person is, and whether they stay

Customers and contracts

Top ten customers and their share of revenue
Supplier agreements, exclusivity and minimums
Franchise agreement, if any, and the franchisor's consent
Online accounts, domain names and social profiles being transferred

Licences and compliance

Council, food, liquor, industry and vehicle licences in the seller's name
Insurance history and claims
Any current or threatened legal action
WorkCover and safety records

Assets

Plant and equipment list with serial numbers, age and condition
Finance or leases over equipment and vehicles
Intellectual property, recipes, software and data
What is excluded from the sale

A general checklist, not legal or financial advice. Have your accountant and solicitor review the documents before you sign anything.

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BizExchange is a marketplace, not a broker or adviser. Listing details are supplied by sellers and brokers and are not verified by us unless stated. Nothing on this site is financial, legal or valuation advice. Photos marked as stock photos are from Pexels and do not show the business for sale.