FAQ

What is for Sale?

The business assets of Miracle Dunedin and right to trade at the location Shop G7 Wall Street Mall, George Street Dunedin. The business may be of interest to existing retailers and other business owners as well as new business owners considering continuing the business (sold as a going concern) in a similar fashion to its present form or developing an alternative retail offering.

What is the Price? How did you come to that price?

Business’s and Property may be for sale either priced or unpriced. A priced property or business is a Vendor’s guide as to level of investment required to purchase the property or business. Where a property or business is unpriced your broker may be able to give you a price indication.

Businesses are not commodities -there are often few relevant comparisons that can be made, and to some people the business may have a value that others may not be able to benefit from or realise. It is therefore sometimes hard to determine a market price for a business - and this price may vary from the price where you see value. In addition to price there will also be other factors and conditions of the sale that will have some value or cost.

Regardless of the price indicated, you are encouraged to consider the business and property fit for your needs first and to determine your own view of the business value. You may do this with your professional advisor’s assistance. Your broker is there to negotiate between both parties to see if an agreement for purchase is possible.

My Accountant has Questions who answers them?

When you get to the stage of wanting to involve your accountant, it is often more beneficial to arrange direct contact between accountants to ensure the exact information sought is available and in a timely manner. Both you and your accountant are encouraged to contact us to arrange this.

What further Business Information is available and Why do I need this?

Other information available includes additional business information for further researching the business and to help inform your decision making. This includes a detailed statement of financial performance other financial records, employment information and other relevant documentation.

These are available separately to this Preliminary Information Memorandum for both size practicality and confidentiality reasons. The appendices are available to interested parties upon completion of a confidentiality form.

Why do I have to return a Confidentiality Form to receive the extra information?

You will appreciate that the additional information available such as the business financial information is of a confidential nature. We ask that you respect the vendor’s information and use it for assessing the business for purchase. Asking you to agree to confidentiality is part of this process. The information you provide is not used for any other purpose.

As a potential purchaser, you are free to share this information with your professional advisers.

Regardless of your decision, your assessment of the business value and overall presentation is important to us too. We do therefore ask that you share these with us during the sale process.

What are my next steps then?

If you are interested in the business, you are encouraged to talk to the Bayleys team to find out more and discuss the next steps and as each business sale is different, to gauge what might be the priority steps as you consider the purchase. Some important considerations are:

§ Can I afford this business or how can I finance this business?

§ Do I need more time to investigate the business?

§ What are the costs of due diligence?

§ Can I secure an option to buy the business before spending this money?

§ What other due diligence or other questions do I need to know.

§ Who is an accountant, solicitor or another adviser who can help me?

§ How do I make an offer?.