When paying an accountant to perform due diligence on a Post Office, you will typically find they end up in either one of three categories:-
1. Don’t Know The Industry and Charge a Low Fee
Accountants charge by the hour. If an accountant charges you a few hundred dollars for their service, how much can you expect him to do for you? But more importantly, what quality advice will you get out of it?
2. Don’t Know The Industry and Charge a High Fee
It is not uncommon for an accountant to charge you $5,000 to $25,000 to perform due diligence on a business. It is important that you get good professional advice when you buy. Unfortunately when an accountant who doesn’t know the industry they will look into every possible issue ….. that’s right….. everything, this is because they themself need to learn and educate themself on the industry first before they can give you advice.
3. Understand The Industry and Charge a Fair Fee
When an accountant understands a particular industry it means they they are able to immediately “cut to the chase”, filter what is important and what is not important and give you great advice for a reasonable price. You are no longer paying an accountant’s education and learning but paying for good quality advice.
The price of all due diligence engagements are always agreed in advance so that there are no unexpected surprises. During our analysis of the business together with you, you will be provided with the following:-
– Advice regarding the industry
– An honeest and frank appraisal of your situation and whether you are suitable to own a LPO
– Tables, graphs and analyses of financial data
– Investigating trends or factors effecting the LPO
– Assistance & support with negotiation
– List of specific LPO documents to request
– List of issues you need to consider
– Discussions about how to grow and develop your LPO
– Questions to ask the broker / owner
– Plus many more!!
When compared to what others charge, our fees are actually very very reasonable.
The old saying is true whenever you pay for any service, you pay for what you get. If you pay peanuts, all you will get is a monkey. Unfortunately the opposite is not always true. Just because you pay more, doesn’t mean you will get more value. It all depends on whether the accountant specialises in that industry.
Give us a free 15 minutes no obligation call today on 1300 77 82 81.