Canteen / food-court stall for sale in Goondiwindi, Other areas

Questions to ask

Questions worth asking before an inspection, based on the seller's figures. It does not judge the business and is not a valuation or advice — rely on the actual records.

• The profit's basis is not confirmed: ask whether the owner's wage is already taken out and whether it is owner-run or managed. No price-to-profit ratio until then.
• On the seller's figures rent is about 3% of revenue. Check whether rent includes GST and outgoings, and compare with the revenue in the books.
• The remaining lease term is not given.

Questions to ask the seller before you inspect

1. Can you provide the last 12 months of BAS, POS reports and bank statements?
2. The lease itself: term left, options, annual increases and who pays outgoings?
3. Will the landlord consent to the assignment? Is there a bond or bank guarantee to transfer?
4. How are staff wages, contracts and accrued annual leave handled?
5. Is there an equipment list, and is anything leased or under hire purchase?
6. Any unpaid bills, fines, complaints or health-inspection issues?
7. Are food safety certificates and council registration in order and transferable? Do the delivery-app accounts come with the sale?

Full due-diligence checklist: Small business handbook (Chinese). Guide price range: Valuation.