Business Sales

Selling a Business

We regularly have a select list of businesses for sale; we have taken the view that it is not appropriate to provide details of our current listings on the website. Interested buyers should contact our office and we can email the current businesses which may be of interest. Further some vendors require even greater confidentiality, and prefer to exclude their business from our website listings.

Buying a Business

For business owners who want to acquire additional businesses. Your business is doing well and you want to grow but acquisitions take time and specialised effort. We can find, screen and negotiate with your acquisition candidates while you manage your business.

Understanding Lockwood & Ward will spend whatever time is necessary with you and your organisation to fully understand the growth objectives and strategies for your business. Understanding your unique needs is basic to developing sound recommendations.

Search Plan

The first key to a successful acquisition is to find the right business. We develop a search plan that will:

  • Establish the criteria for the right business
  • Research and identify candidates
  • Effectively solicit their interest

The plan will rely primarily on targeted marketing techniques and an expanding network of personal contact activity.


The second key to a successful acquisition is to pay the right price. Lockwood & Ward will evaluate your candidates on both standard financial measures and on other less tangible measures unique to the criteria you established. Special attention will be paid to areas of potential savings or exposure in the future combination of the two businesses.

Confidentiality and Support

If potential sellers know too early who the buyer is, it can influence their price expectations or even their willingness to sell. In addition not every contact will develop into a real candidate. Our organisation will provide the confidentiality necessary to protect your time and your negotiating position. We will provide you with the support needed throughout the process of identification, search, evaluation, and negotiation of a completed acquisition.

Business Valuations

Fees and Commissions

We are an independent corporation providing services tailored to your needs, we can offer flexibility in how we can charge for our services:

  • Per hour fees, based on the type of assignment
  • Per project fees based on a defined task
  • Commission, when assisting in the sale or purchase of a business
  • Or combination, where fees may become applicable toward reducing commission
  • All assignments and charges will be confirmed in writing.


Fees payable to Lockwood Business Sales on the sale of a business are usually rendered on a success basis. Our commission rates are:

  • 10% on the first $50,000
  • 5% on the first $1,000,000
  • 4% on the balance over $1,000,000

When entering into a commission arrangement it is our usual practice to charge a retainer and also for the additional services outlined below

Standard free service

All assignments undertaken are provided with the following services at no extra charge.

Marketing program and budget, Preparation of advertising copy for the media suggested in the marketing program

Fortnightly reports by fax or mail of all phone calls, meetings and correspondence with prospective buyers throughout the sales process

Buyer profile is prepared for all prospects who wish to proceed past the first contact; this may include a Resume if the buyer has one available.

All prospects are interviewed and screened for financial capacity and business acumen suitable to the business for sale

Negotiate sales price and structure in order to maximise Net Cash from Sale

Detailed Handover Checklist to ensure appropriate records of the business are maintained by the vendor and to reduce the risk of financial liability or disputes arising from the sale

Assist with Finance Application for the buyer where required

Additional Services

$150 - Inspection of the business for sale as required for all licensed business agents under the Auctioneers and Agents Act.

$250 - Price Appraisal in writing setting out our reasoning for the price given, suggested starting price and minimum sale price which could be expected. Spreadsheet showing normalised profits for the last four years

$1,000 - Business Valuation assignments start at $1,000. We provide a comprehensive valuation report which can be used as an independent expert report to support price for introductions of new partners, business expansion programs, equity funding management buyouts, partnerships dissolutions, divorce proceedings and numerous other cases.

$250 - Two hour consultation including a detailed explanation of the Sales Process from the point of view of the vendor, including timing of the sale, methods of structuring the sale, price negotiations and documentation required.

$400 - Information Memorandum of between 5 and 10 pages which details the features, attributes and benefits of the business for sale

$1000 - Accounting records update, preparation of monthly accounts for current financial year.

$500 - Profit and Loss Budget for the next full financial year and the current year

$200 - Graph of sales revenue weekly or monthly over the last 1 or 2 years

$400 - Schedule of Net Cash available from sale after taking into account Capital Gains Tax, Income Tax, agency fees and legal fees in the sales process

$150 - Inclusion in our Monthly Mail out to over 600 buyers and contacts for three issues and Home Page on the Internet

$500 - Draw Heads of Agreement for briefing of solicitor

$500 - Brief vendor solicitor regarding Agreement for Sale of Business and essential clauses to protect the vendor and minimise Capital Gains Tax liability