Proactive - Accounting Solutions

Jim & Jane

The situation:

Jim and Jane were really excited about an existing business they were interested in buying but they did not know how to assess the financial information they had been given or what they needed to do next. Jane had some knowledge working in the industry and had always dreamed of owning her own business. Jim worked in the mining industry making a good wage but was sick of working away from home and hoped to also work in the new business and leave his current job.

Buying the business was not just a large capital outlay but also a major life change and income change for their family, not a decision to be taken lightly. With two young children, one of the biggest factors to consider was whether the time needed to run the business would take time away from their family.

What we did:

Firstly we sat down together and ran over the pros and cons of running this type of business and the outcomes they were looking for both financially and personally. We then conducted a thorough review of the figures and provided an indicative value depending on the return they required. Using this information, they made a more appropriate offer than that being asked and were successful in acquiring the business. We were then able to help them establish the internal business systems, and from this we provided Jim and Jane with an implementation plan for ongoing support via regular strategic meetings and monitoring.

The result:

Jim and Jane now run a profitable business which is not only providing them with a good living but also the flexibility to spend time with their family. They sleep well at night knowing that their figures are accurate and up to date and that all areas of the business are running well.