Buying a business is one of the most significant decisions you’ll ever make. Many business owners feel overwhelmed by the complexities, from understanding financial statements and negotiating fair purchase prices to ensuring tax efficiency and structuring the acquisition for long‑term success.
Our Perth-based accountants and business advisors are available to assist you, using their first-hand experiences to help make your journey into business ownership a success.
BOOK A FREE MEETING WITH A BUSINESS ACCOUNTANT
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Tax Minimisation Strategies ReportThe rest of this page is dedicated to providing you with an overview of the typical problems and associated solutions with regard to buying a business. These apply whether you are buying a business in Perth, elsewhere in WA or across Australia.
We’ve helped countless people along the business acquisition journey and stand ready to help you. When you’re ready to talk, book a meeting or send an enquiry.
The Problem:
When you’re considering buying a business, questions immediately arise: Are the financials as healthy as they appear? Could hidden liabilities derail your investment? Will the purchase structure suit your future growth plans? Without clear, specialist advice, you risk making costly decisions that could jeopardise your new venture’s success.
Our Solution:
At Munro’s, we take a holistic, problem‑solving approach. We work with you from the initial assessment through to closing the deal. Our process includes:
Key Outcomes and Benefits:
The fear of missing out is so powerful and can lead people to make terrible decisions. Buying a business requires you to put a lot of wealth on the line. You’ve got to think clearly and sceptically.
Solution
Be sceptical.
Outcome
Reduce the chance of buying an overpriced / non-profitable business.
video key points
Presented by: Mike Beer
video transcript
Transcript available on the Business Acquisition Advice page.
How are you going to fund the purchase of the business? Do you need extra funds to satisfy ongoing financial obligations? What additional liabilities, guarantees and risks are you going to take on? Will you have sufficient cash to survive and eventually thrive?
Solution
Appropriate funding.
Outcome
The money you need to survive and thrive.
video key points
Presented by: Sanjay Nair
video transcript
Transcript available on the Financing a Business Acquisition page.
Tax is generally unavoidable, but the amount of tax you pay in the future will be heavily influenced by decisions made now.
Solution
Setup tax planning.
Outcome
Bare minimum tax.
video key points
Presented by: Rama Yudhistira
video transcript
Transcript available on the Tax Planning for New Businesses page
Operating a business increases exposures to extra liabilities and requires safeguarding of existing and new wealth as best as possible.
Solution
Basic asset protection + optionally advanced protection.
Outcome
At least the bare minimum wealth protection you should have.
video key points
Presented By: Saul Segal
video transcript
Transcript available on the Asset Protection for New Businesses page.
When arranging a due diligence, you should really follow the classic wisdom: you can’t just look at the iceberg above the ocean surface because there is so much hidden and dangerous below.
Solution
Comprehensive due diligence.
Outcome
Make a fully informed decision and know what you’re getting into.
video key points
Presented by: Mike Beer
video transcript
Transcript available on the Due Diligence Advice page.
Whether you’re going into business with family or friends, it’s important to recognise that business life and the stresses it brings will give rise to new and sometimes challenging issues.
Solution
Clearly defined and understood intent with a proactive dispute resolution agreement.
Outcome
Mitigate the potential of messy and costly future disputes.
video key points
Presented By: Rama Yudhistira
video transcript
Transcript available on the Shareholders Agreement page.
We cannot stress enough how vital it is to setup an accurate accounting system from the beginning.
Solution
Startup bookkeeping.
Outcome
Clean financial information from the beginning as opposed to a costly, uninformative mess.
video key points
Presented by: Rama Yudhistira
video transcript
Transcript available on the Business Bookkeeping page.
Employment, tax and superannuation laws impose a heavy burden on employers and you must give this responsibility the attention and care it requires.
Solution
Skilful and pragmatic support with implementing employment basics.
Outcome
Legally compliant employment arrangements.
video key points
Presented by: Saul Segal
video transcript
Transcript available on the Payroll Accounting & Employing People page.
There is no one who knows everything about business. From the moment you buy your business, you’ll need to continually upskill to meet the challenges. Don’t start from scratch; tap into the knowledge and learnings of others.
Solution
Sprints, blended learning, community insights and coaching.
Outcome
The best leader you can become, as quickly as you can get there.
key insights
With Thanks To: Ayman Al-Abdullah
References page.
What are the first steps in buying a business?
Before proceeding, you should conduct preliminary research, understand your financial capacity (can you get a loan) and arrange for specialist advice. We help you assess whether a business aligns with your growth plans.
How do I know if a business is fairly valued?
Our valuation process uses multiple methods to ensure accuracy, considering cash flow, assets and market trends. We compare industry benchmarks to determine a fair price.
What if I find hidden liabilities during due diligence?
Identifying risks early is crucial. We advise on mitigating strategies and this may allow you to renegotiate terms based on unforeseen liabilities, ensuring you don’t overpay for potential risks.
How can tax planning help when buying a business?
Effective tax planning can significantly reduce your tax burden in the future. We work with you to structure the deal in a tax‑efficient manner, ensuring you take advantage of all applicable concessions and deductions.
Are your services available only in Perth?
While Munro’s is proudly based in Perth with deep local expertise, our compliance and advisory strategies are effective for businesses throughout Australia.
What makes Munro’s approach different?
We are known as “The Professional Problem Solvers” because we focus on understanding your challenges and crafting tailored solutions. Our approach is transparent, value‑driven and backed by over 100 Google reviews praising our responsiveness and specialist advice.
How can a business accountant help improve my profit following the acquisition?
Our specialists don’t just crunch numbers; we provide actionable insights that can help optimise your operations, reduce unnecessary expenses and ultimately boost your profit margins.
What is the price for your structuring and due diligence service?
Our pricing is transparent and reflects the complexity of your needs. Please visit our pricing page and contact us for a personalised quote.
How long does the buying process usually take?
Every acquisition is unique. Generally, the process can take several months from initial enquiry to final settlement, depending on whether you’ve already identified a target acquisition, your access to business loans, the complexity of due diligence and negotiations.
Can you help if I’m considering a franchise purchase?
Absolutely. We have assisted many clients in purchasing franchises by evaluating their financial performance and negotiating favourable terms.
First Session is FREE (incl. GST)
Upskilling Event for Business LeadersHave been using Munro’s for over 30 years and have been completely satisfied with the friendliness and expert knowledge they provide. I would fully recommend anybody needing an accounting firm to use Munro’s. Well done Simon and the team.
Thank you to all the Staff members of Munro’s who have cared for our business over the last 50 years.
Always competent and friendly.Best wishes for the future.
Had a longstanding relationship with Munro’s for over a decade. Mike has always gone over and above for me and has my highest recommendation. Thank you.
Munro’s are an outstanding outfit mastering in complicated tax situations and are highly focussed on providing a client centred approach. I presented Saul with a complicated case of overdue tax’s and substantial crypto and share trading activity. To say that he handled this situation with aplomb is an understatement. He resolved my situation promptly and what seemed to be with ease. Sure it is great to have your taxes done by consummate professionals but for me this is not their best feature. It is the customer service that I received that was outstanding and exceeded my expectations. He was extremely patient and dealt with my constant questioning with a great attitude. Always polite and willing to offer his professional advice I sincerely felt like a had an ally in my corner. Saul was a pleasure to work with and I look forward to next years Tax Time.
Mark.
I have been a client of Munro’s for 2 years and am very happy with their service. They have saved me a lot of time, effort, and money.
Great Firm. Have been dealing with Christine for a few years and she is always there for advice and willing to help. Highly recommend.
I’ve used Munro’s for my past 3 tax returns. They are always very responsive to my enquiries and provide excellent advice when questioned. I now have a much better understanding of the tax obligations within my field of work and my investments thanks to them. It’s definitely worth paying for an accountant who knows what they’re doing! Cheers.
Congratulations on 50 years of accounting.
Munro`s have managed our family business affairs for approximately 45 years.
Thankyou.
David and I have been loyal clients of Munros for many years—I think since we were married in 1962. David made all the decisions in those early years. I became a more active partner as we worked with Ted Wilhelm and Ian Arblaster until their retirement. We then worked with Christine Prasetia for our financial, accounting, taxation and our wills until David’s death in May, 2017. Christine has patiently guided me through taking up the reins of our business venture. She is very efficient and totally reliable in all our dealings. I feel fortunate to have Christine as my accountant and business advisor. Thanking you, Val McAlpine
We first met Mike Beer 25 years ago, when he was assigned to our account by his employer at the time. When Mike moved to Munro’s, we decided to transfer our business to follow him as we were so impressed with both his professionalism and his character.
We have never regretted our decision to keep our business with Munro’s and Mike, who we think of as a good friend first and a total professional second for the excellent service he and his company have provided.
Congratulations Munro’s on your anniversary!
Congratulations Munro’s… on your 50th year celebration.
It has been a pleasure working with you, since we opened our business 8 years ago. In particular, Ben Paul has been supporting us for the whole journey so far and we can highly recommend his expertise & friendly service.
Geoff, Doug & Yvonne Harwood
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