There is no definite method to ascertain the takings or profits of an existing business.
A purchaser can ask to look at the accounts, owner's tax returns and references from suppliers, creditors, the bank and accountant.
If a company owns the business, basic information regarding the company and its owners and directors can be obtained from the Australian Securities and Investments Commission. Before buying a business, it is best to spend a period of time running the business with the owner to gain familiarity with its operations.
We embrace diversity and welcome all people, irrespective of culture, faith, sexual orientation and gender identity.
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Legal Services acknowledges Aboriginal people as the Traditional Owners and ongoing occupants of the lands and waters in South Australia and we respect their spiritual, cultural and heritage beliefs. We recognise their continuing connection to land, water and community and pay our deep respect to Elders past and present.
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