Selling Your Practice? - What you need to know!

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Selling Your Practice? - What you need to know!

Introduction:

If you have made the decision to sell your practice, whatever your reason may be, selling any business successfully takes preparation and knowledge. In this full day masterclass, you will be taken through the steps of selling, what you need to be aware of when it comes to your staff, clients, premises and legislation. You will also learn the tips and tricks to any sale as well as mistakes and deal breakers. 

The following topics will be covered in the session:

Preparing for Your Exit - Rob Pillans, Planet Consulting

  • When is the right time to exit?li>
  • What are the options for exit and how to pick the best for you
  • What adds value to your firm for a sale or succession?
  • How to build a succession plan
  • How and when to implement changes that will add value
  • What can you do in the short term and long term to be ready?

Commercial & Property Considerations - Matthew Lilly, Special Counsel, Corporate & Commercial Law

  • Determine what are you selling -  assets or the company
  • Why you should undertake your own due diligence before you sell
  • Benefits of having a valuation undertaken before sale
  • How to tie in the lease of your business premises with the sale
  • What should your business sale agreement include
  • What happens at settlement

Employment Law Considerations - Gemma Wheeler-Carver, Associate Employment Law & Dispute Resolution

  • Notification to employees – major changes
  • Employee entitlements – buyer or seller’s responsibility?
  • Transferring employees and enterprise agreements
  • Terminating employment contracts – notice, process and final pay slips
  • Indemnifying against future liability
  • Restraints of trade

Accounting Standards - Michele Rawlins, Connecting the Change

  • Risk management 
  • Business continuity risks
  • Client records 
  • Insurances 

Taxation Aspects - Lisa Greig, Perigee Advisors

  • CGT Concessions
  • Retained profits and associated franking credits 
  • Components of price
  • Equipment
  • Associated costs with the sale 

Valuations, Tips, tricks & Deal Breakers - David Screaigh, Zircom Business Brokers

  • Determining how much your practice is worth
  • Factors to consider when valuing a practice
  • Outline the sales process
  • Factors for a smooth handover

Registration

Selling Your Pracitce? What You Need to Know!

  • M (E:$375.00 R:$405.00)
  • NM (E:$475.00 R:$505.00)
  • S (E:$375.00 R:$405.00)

* Price flags: R=Regular, E=Early, NM=Non Member, M=Member, S=Student

Prices are inclusive of GST where applicable. For further details on the GST amount charged on your purchase refer to your tax invoice which will be emailed to you on receipt of payment