Frequently Asked Questions
General Information
WHY SHOULD WE USE YOU AND NOT OUR LOCAL ACCOUNTANT?
Specialised
Valuing small businesses is all we do. By specialising in this area we are able to provide our clients with a fast and professional service at an extremely competitive price.
Value
Unlike most traditional Accounting Firms we offer a very reasonable & fixed price. There are no hidden costs. All you pay is $970 (+gst).
Our fees are low because we have lower overheads. As we are web based we save on overheads which allow us to pass the savings onto you.
As a Bizval client you will benefit from having a qualified Accountant analyse the numbers to ensure you are making an informed decision. We use our experience, comparisons with other businesses and valuation techniques to give you peace of mind when buying a business.
WHY USE AN ACCOUNTANT WHEN PURCHASING A BUSINESS?
Buying a business is one of the biggest decisions anyone can make. It has the potential to be the most rewarding or unfortunately for some, one of the worst decisions they ever make if not properly investigated.
When looking for a business to buy you will no doubt be given endless advice and opinions from business brokers, agents, family, and friends. The smart thing to do is to get an Accountant to look at the financials of the business you are considering buying.
A qualified Accountant can offer an unbiased opinion and assessment of the business. Accountants are experts at looking a set of financial figures and working out just how healthy a particular business is. Getting an Accountant’s opinion is a vital step that should not be overlooked.
CAN YOU VALUE BUSINESSES IN MY STATE?
Absolutely. We can value businesses in all Australian states.
WHAT ARE YOUR QUALIFICATIONS?
Our Principal is a Chartered Accountant, holds a Bachelor of Business (Accounting & Finance) degree and is a Justice of the Peace.
WHAT DO I DO IF I HAVE OTHER QUESTIONS?
We understand that the seeing an Accountant via the internet is a relatively new concept in Australia so some people might be a little cautious.
If you have any other questions please complete our online contact form, email info@bizval.com.au or call us on 1300 916 973.
I'M AN ACCOUNTANT, CAN I OUTSOURCE MY CLIENT'S BUSINESS VALUATION TO YOU?
Yes. We regularly prepare business valuations on behalf of other Accountants. We understand that many Accountants do not have the time or resources for this specialised service and find it easier and in the best interest of their client to outsource it to Bizval.
Our low, fixed price is another benefit to your clients. We can usually prepare a business valuation report for a lot lower cost than that of other Accountants who don’t prepare small business valuations regularly.
We deal directly with you (the Accountant) and do not make any contact with your client, unless you would like us to.
We deal directly with you (the Accountant) and do not make any contact with your client, unless you would like us to.
WHAT TYPE OF BUSINESSES CAN YOU VALUE?
Almost any Australian small business!
This includes the following businesses:
Post office, newsagency, tattslotto outlets, coffee shop, coffee lounge, cafes, fish and chip shops, supermarkets, kebab shops, dry cleaners, charcoal chicken, manufacturing, couriers, pizza shops, restaurants, bakeries, delicatessen, hairdressing salons, fruit and vegetable shops, printing and copy shops, bars, real estate agencies, franchises, mortgage brokers, accounting firms, construction, online businesses, wholesalers, warehouse and distribution.
How it works
ARE THE VALUATIONS DONE BY AN AUTOMATED COMPUTER SYSTEM?
No, definitely not. All valuations are performed by a qualified Accountant who specialises in valuing small businesses. As Accountant’s we must adhere to very high standards of work practices and quality control. We put quality time into carefully reviewing every business we value.
HOW LONG DO VALUATIONS TAKE?
We offer a five business day turnaround upon receiving all the required information. This five day estimate does not include down time while we are waiting to resolve questions or waiting for more information.
DO I HAVE TO ORDER MY VALUATION ONLINE?
No. You can download our Valuation Order Form and fax or email it back to us. Just click "Order Now" and then select "download valuation form"
Information Required
HOW DO I GIVE YOU COPIES OF THE REQUIRED INFORMATION?
Attach
When you order a valuation you will be asked to complete a short form. There is a section on the form to attach the documents, or
You can email them direct to valuations@bizval.com.au . Or if it is more convenient you can get the business broker, vendor, or Accountant to email them to us directly, or
Fax
You can fax the documents to (03) 8677 3312 or (07) 5677 0698
WHAT FINANCIAL INFORMATION DO YOU NEED TO PERFORM A VALUATION?
Ideally you should provide us with as much information as you can get. This will help us to provide a more accurate valuation. As a guide we normally require:
- Profit & Loss Statements for the past 3 years
- Balance Sheets for the past 3 years
- Tax Returns for the past 3 years (if available)
- Any interim information for the current year.
- Budgets or forecasts for upcoming years (if available)
WHAT IF I CAN NOT GET ALL THE INFORMATION?
Every business is different so quite often we can perform a valuation without all of the above information (likewise, we sometimes we require more).
If you only have some of the information (eg – only 1 year of financial statements) please submit your valuation request and we will contact you if we are unable to proceed with the information provided. In this case we will provide a full refund. Rest assured we will never perform a valuation if we are not comfortable with the amount of information provided.
WHERE DO I GET THIS INFORMATION FROM?
BUYING A BUSINESS
If you are purchasing the business through a business broker they should be able to provide the documents.
If you are purchasing directly from the current business owner (the vendor) they should have all of the documents or at least be able to obtain them from their Accountant.
You may have to sign a confidentiality agreement before they give you the documents. Requiring a confidentiality agreement is common practice and basically just means you won’t pass the information on to anyone except your Solicitor or Accountant.
I ALREADY OWN THE BUSINESS
You should be able to obtain the information from your Accountant. If you prefer, we can contact your Accountant directly to obtain copies of the information - just let us know if you would like us to do this when you order your business valuation.
Payment
DO I NEED A PAYPAL ACCOUNT TO ORDER ONLINE?
No. You do not need a Paypal account if you are paying by Credit or Debit Card (click 'Continue with Checkout' when directed to the Paypal website).
If you are paying by bank transer you will need a Paypal account. You will be asked to create an account when you get this stage. It only takes a few minutes to do.
WHAT PAYMENT METHODS DO YOU ACCEPT?
Credit Card, Debit Card, and Bank Transfer all via Paypal for online orders.
We use Paypal to process our payments because they are the global leaders in online payment solutions with over 153 million accounts worldwide.
When you use paypal we at Bizval do not see any of your financial information.
We accept bank transfer or cheque for email, fax, and post orders.
Get In Touch With Us
Address:
PO Box 279City:
Burleigh HeadsState:
QueenslandPost Code:
4220Phone:
1300 916 973