Accountants for Buying a Business

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

 

Most Popular Accounting Services for Business Purchases

Pre-Purchase Sanity Check & Structuring Advice

 

From $2,000 (excl. GST)

Business Acquisition Advice

Due Diligence Advice

 

From $5,000 (excl. GST)

Due Diligence Service

Advanced Tax & Asset Protection Strategies Report

 

$4,000 (excl. GST)

Tax Minimisation Strategies Report

Advice from Accountants for Buying a Business in Western Australia

The 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:

  • Comprehensive Due Diligence: We review financial records, assess cash flow and identify potential risks.
  • Tailored Acquisition Advice: We guide you through negotiations, assist with business valuation and recommend the optimal purchase structure, ensuring that the business fits your growth ambitions.
  • Tax & Compliance Strategies: Our specialists ensure that every transaction complies with Australian tax laws and that you benefit from available concessions and planning opportunities.
  • Ongoing Support: After the deal is closed, we continue to support you with business advisory and accounting services that help you integrate your new acquisition smoothly, attend to ongoing accounting and tax, and plan for future growth.

Key Outcomes and Benefits:

  • Informed Decision-Making: With our thorough due diligence, you gain a clear picture of the business’s true value and potential.
  • Risk Mitigation: We identify red flags early so that you can avoid costly pitfalls.
  • Optimised Structure: Our recommendations not only protect your investment but also set the stage for tax efficiencies and long‑term business growth.
  • Peace of Mind: With Munro’s by your side, you can focus on the opportunities ahead, confident that you’re making a secure investment.

Problem 1: FOMO

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.

Problem 2: Financing

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.

Problem 3: Setup for Future Tax Success

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.

Problem 4: Assets & Liability Protection

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.

Problem 5: How to De-risk

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.

Problem 6: Going into Business with Others

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.

Problem 7: Setup Bookkeeping in Xero, MYOB, Quickbooks, etc

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.

Problem 8: Employing People

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.

Problem 9: Business Ownership Education

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.

Frequently Asked Questions for Buying a Business

  1. 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.

  2. 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.

  3. 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.

  4. 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.

  5. 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.

  6. 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.

  7. 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.

  8. 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.

  9. 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.

  10. 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.

Where To Begin

Get To Know Each Other Meeting

 

FREE (incl. GST)

How We Get Started

Come Along To An Improve Session

 

First Session is FREE (incl. GST)

Upskilling Event for Business Leaders

Are you ready to buy a business?

Take the spam-free* Buying a Business Diagnostic.

Buying a Business Diagnostic

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Munro's, where client service matters

Top 2% ranked Australian Accounting Firm

Play Ranking Explained

  • ★★★★★ — Barbara and Murray

    From the moment we met Simon Strawbridge we were impressed and put at ease by his personable manner. We knew our taxation assessment was in competent and knowledgeable hands.We have been with Munro’s for 8+ years. During this time Drew Pflaum assisted us with BAS issues, which was greatly appreciated easing another financial burden. All the staff whom have assisted us through the years have been highly professional and always pleasant. In particular those at the reception desk always helped us with a smile. Even when reception was not attended, someone was quick to assist us. Munro’s make taxation assessment time a breeze. Thank you Munro’s. Congratulations on 50 years of excellent service

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  • ★★★★★ — Nick Tighe

    On behalf of our farming family, congratulations on 50 years. We have been with Munros 3 generations starting I think when My Grandmother switched at the start. My late Father always had good dealings with whoever was assigned to us which there have not been too many over the 50 years which I think may be a reflection of the stability and integrity of Munros. Simon Strawbridge who was the new kid on the block back in my fathers day and the rest of the team has always provided us with great service and we thank the whole team for their support over the years.

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  • ★★★★★ — FK aus

    Munro’s provided me with the exact accounting and tax advice I needed. I highly recommend Munro’s to anyone who is searching for a professional accounting firm that goes the extra mile to help their clients.

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  • ★★★★★ — Ivan Lai

    Friendly staff and excellent service. During the past five years, their team have provided very useful advice on tax savings. Their prompt response and well explanation to my questions are well worth Five Stars. Thanks Josephine, Christine and the team. Highly recommended without hesitation.

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  • ★★★★★ — Ward Adam

    The family began with Don Munro at Wesfarmers. Simon and his professional staff at Munros have continued to give excellent service and advice over many years. Lil Ward and Carol look forward to our association with you in the future. Congratulations on 50 years.

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  • ★★★★★ — Nathan Pintabona

    Professional, insightful and always supporting. Christine and Munro’s has helped me through all avenue’s and queries regarding investment, tax return, property, super and general finance. Really appreciative of their work and highly recommend!

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  • ★★★★★ — E M

    Rama and the team at Munro’s provided prompt and thorough crypto tax advice. They are very professional and I highly recommend their services.

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  • ★★★★★ — Doreen Wilkinson

    Have 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.

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  • ★★★★★ — Asif Raza

    Drew was extremely helpful and professional. Highly recommend!!

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  • ★★★★★ — Doug Harwood

    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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  • ★★★★★ — the big fella

    I used Munro’s for the first time this past year for my tax. My situation was complicated, but this did not phase them. A massive thankyou to the team there including Drew and Christine. Their professionalism was excellent. I cannot flaw their efforts at all. It was a pleasure to deal with them. Thankyou very much Munro’s. See you next year.

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  • ★★★★★ — Jenny Bourke

    We followed Mike Beer when he joined Munros and have been with them ever since. Mike has been a huge help over many years. He is always available to answer even the most basic/ extraordinarily naive questions, and always with a generous and helpful attitude.

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  • ★★★★★ — Jenny Bourke

    We followed Mike Beer when he joined Munros and have been with them ever since. Mike has been a huge help over many years. He is always available to answer even the most basic/ extraordinarily naive questions, and always with a generous and helpful attitude.

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  • ★★★★★ — Ginny Wu

    Josephine and the Munros team have looked after our accounting affairs for more then 10 years. I am incredibly pleased with the quality of the service they provided. They are professional, trustworthy and patient all the time. Highly recommend Munros.

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  • ★★★★★ — Maneesha Kulasekera

    I highly recommend Munro’s for their brilliance and hard work. Saul, Sanjay and the Munros team are highly capable and passionate in their dealings with their clients and have been a strong pillar in navigating through my Taxes and Accounting over the past few years. They are exceptionally knowledgeable in their field of expertise and up to date with the latest policies/requirements and very easy to work with as they understand the client’s needs. I want to express my sincere gratitude and thanks to especially Saul and Sanjay for their professionalism, great advise, friendly attitude and major efforts in assisting me with my Taxes/ accounting. I couldn’t have asked for a better team than Munro’s.

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  • ★★★★★ — Eric Mastro

    Munro’s were able to take complicated tax matters like cryptocurrency trading income for a new company and turn it in to a simple solution for me. Drew has always been amazingly patient and helpful, answering emails quickly and taking the time to respond thoroughly so the matter could be clearly understood. Highly recommended for any tax accounting needs!!

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  • ★★★★★ — Ray Norton

    OVER THE LAST 25 YEARS I HAVE ALWAYS ENJOYED GREAT SERVICE FROM IAN ARBLASTER, ANNETTE WHYTE AND OF COURSE BEN PAUL. THANKS FOR ALL THE SUPPORT. RAY NORTON

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  • ★★★★★ — Bev Margetts

    Mike has been most helpful and professional with our accounting, superannuation and taxation affairs. We had transferred some years ago from a less than professional person and now very pleased to be with Munro’s. Congratulations on 50 years and best wishes for a long and successful future.

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  • ★★★★★ — Jeff Hoffard

    From QLD was searching for a accounting firm that could easily handle all my tax dealings including crypto transactions and Carl has been very helpful always just an email away to sort out any concerns I might have.

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  • ★★★★★ — Paulo

    Excellent accounting service with a deep understanding of tax implications for SMSFs.

    I was very impressed with Munro’s accounting service. Before I engaged with Munro’s, I met with accountants across Australia, but I decided to go with Munro’s because of their breadth and understanding of taxation.

    Brian from Munro’s was able to quickly and efficiently complete my 2023 tax returns, and also provided additional advice and expertise on how I could better structure my affairs.

    Originally, I briefed Munro’s to wind back my SMSF due to the administrative burden of managing it. However, Munro’s was able to clearly understand my affairs and prepare the tax documentation in a way that reduced the administrative burden. I was so impressed with their service that I decided to continue with the SMSF after all.

    I highly recommend Munro’s to anyone looking for an accounting service with a deep understanding of taxation and SMSFs.

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  • ★★★★★ — Mark Howlett

    Got terrific service and advice from Drew. Simple, informative and a quick response time too. Would recommend.

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  • ★★★★★ — D C

    Munro’s is delivering excellent results for me. My initial engagement was a complex situation comprising of many years of outstanding returns in both the traditional and cryptocurrency space. Drew, Sanjay and Saul were able to rise to the challenge and managed the whole process including preparation, lodgement and dealing directly with the ATO. They have always been friendly, responsive, diligent and provide actionable advice based on observations they have made from my data and by also understanding my personal goals and objectives.

    I am confident I have the right team by my side with Munro’s and I highly recommend Munro’s to anyone looking for top quality service and advice.

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  • ★★★★★ — Gautam Sathivel

    One of the best decisions we made was switching our accounting services to Munro’s. Especial thanks for Saul and Brian for their extensive knowledge, understanding our business requirement, goals and most importantly keeping us compliant. Extremely happy to engage with this organisation and team.

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  • ★★★★★ — Fay & Steve

    Our Munro’s Experience began approximately 38/40 years ago. Steve’s parents were already customers of Munros, in particular Barry Virgo, and we followed suit.

    For the first couple of years we had several changes of Accountants at Munro’s (we always got the newbies and had to ‘train them up’ to know how to get the best deal from the Tax Office for farmers. We became fed up of this system. Our last newbie was Simon Strawbridge. Well, we got him “trained up right proper” then they wanted to give us the next new one, but we stated we weren’t changing.

    Today, Simon is still our go to man. Whilst we understand there have been many very efficient people working in the background on our business affairs, for which we thank them sincerely, we have always maintained our professional relationship with Simon.

    We have been through some big business changes in our farming adventures over these past 40 odd years, and the advice, help and professional assistance has been 100%. At times we didn’t know who to trust to give us the best business advice and we were fortunate to be able to lean on Simon’s vast knowledge to help us make these decisions.

    Our working partnership of having our taxation needs, investment portfolios, wills, etc. linked in with Munros and the great staff has been successful.

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  • ★★★★★ — Fay & Steve

    Our Munro’s Experience began approximately 38/40 years ago. Steve’s parents were already customers of Munros, in particular Barry Virgo, and we followed suit.

    For the first couple of years we had several changes of Accountants at Munro’s (we always got the newbies and had to ‘train them up’ to know how to get the best deal from the Tax Office for farmers. We became fed up of this system. Our last newbie was Simon Strawbridge. Well, we got him “trained up right proper” then they wanted to give us the next new one, but we stated we weren’t changing.

    Today, Simon is still our go to man. Whilst we understand there have been many very efficient people working in the background on our business affairs, for which we thank them sincerely, we have always maintained our professional relationship with Simon.

    We have been through some big business changes in our farming adventures over these past 40 odd years, and the advice, help and professional assistance has been 100%. At times we didn’t know who to trust to give us the best business advice and we were fortunate to be able to lean on Simon’s vast knowledge to help us make these decisions.

    Our working partnership of having our taxation needs, investment portfolios, wills, etc. linked in with Munros and the great staff has been successful.

    read more
  • ★★★★★ — Suthee Saisuwan

    Crypto trading is a new thing and I believe, just like many others I had made lots of mistakes not knowing that trading Crypto is a taxable event. Lucky, there is someone knowledgeable about this matter.

    Great education and support in this challenging time I have received from Drew the man!

    The level of communication is top, accurate and precise. They put their heart into the work to help out their client. Highly recommend if you are seeking a Crypto tax return service.

    Thanks Drew the man and Michael.”

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  • ★★★★★ — Jennifer Fox

    A big shout out to Mike and his team at Munro’s for the outstanding work you’ve done on our accounts and returns!!

    From our very first interaction with Mike, we had a great feeling about engaging with Munro’s, and you’ve more than delivered.

    It’s been such a relief to know our business and personal accounts are in such capable hands.

    Highly recommended.

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  • ★★★★★ — Brad Johnson

    Thanks Drew, your guidance into my situation was very helpful. I’m sure your knowledge and expertise will be required in the future for ongoing decisions. Highly recommended!!

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  • ★★★★★ — Cris Yanez

    Extremely professional, attention to detail and a knowledgeable team. Working with Drew and the team at Munro’s was a pleasure.

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  • ★★★★★ — Leslie & Joan O'Halloran

    MUNROS what a great team:

    Munros have supported 3 generations of the O’Halloran family from Kojonup over the past 50 years. Starting with Donald Munro when he was Wesfarmers client Accountant.

    We are very grateful for their ongoing support in all accounting matters. Simon, Christine and their team are always willing to help whenever we need it.

    Congratulations on your 50-year celebration. All the best for the future.

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  • ★★★★★ — Jamie Little (JAMIETV)

    Professional service, very quick & reliable especially when it involves Cryptocurrency. Went out of their way to assist by a deadline that I had & they were happy to accommodate.

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  • ★★★★★ — Ryan Hannah

    Great first experience at Monro’s! Took on the service expecting a sizable tax bill and ended up with a rebait, also learned about tax laws. Will defiantly be back next year.

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  • ★★★★★ — Emma Rocca

    Exceptional Professionalism and Genuine Support

    I can’t thank Drew enough for the incredible support he offered during an incredibly stressful and emotional time. His communication was efficient, clear, and refreshingly straightforward—qualities that are hard to come by when dealing with complex financial and legal matters.

    Although Munros were ultimately unable to take on my case due to an internal conflict, Drew still gave generously of his time and expertise without charge. He treated the complex situation with empathy and integrity, when most professionals would have run a mile. His advice and clarity made a tangible difference to both my confidence and the steps I’m now taking to secure a better future for myself and my children.

    It’s deeply regrettable that I can’t continue with Drew as our accountant long-term, because he would’ve been my first choice without question. I would highly recommend him to anyone needing not only expert accounting but also genuine human support.

    Thank you again, Drew — you have been amazing.

    — Emma Rocca

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  • ★★★★★ — Jeremy Glasgow

    Very knowledgeable experts on complicated crypto tax matters. I would highly recommend every trader/investor to bite the bullet and seek professional advice from Munro’s.

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  • ★★★★★ — Alex C

    Munros was really helpful in listening to my situation and taking their time in pointing me to the right direction for my complex tax matters. I high recommend their services!

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