Frequently Asked Questions

We start with an introductory meeting with you and your advisor(s) to understand your business and your goals and objectives.

As far as we are aware, we are the only company that sells businesses like this in Australia.

Recruitment companies do executive search, business brokers sell businesses, and equity partners raise capital, but no one else combines them with a tried and true process to achieve the best result for business owners.

Over the last six years across Australia and New Zealand, we’ve been involved in more than 70 businesses.

Finding the right person is the most important part of the process, and we take as long as we need to make sure we get it right.

Often we can find five people within six weeks who fit our (and your) criteria, which is much faster than a business broker will find potential purchasers. Overall, the process of finding your business partner can take about three months.

You don’t have to. How much you sell and over what period of time is up to you.

However, if you are looking to fully exit your business, you will eventually sell all of your equity at the end of the agreed time period for the transition.

This is up to you and the incoming owner. Normally it takes a few years, but it can be as short as a few months. The exact time period is agreed upon at the start.

Every Legacy Partners’ transition includes setting up an Advisory Board. This includes an independent advisor who is responsible for overseeing the whole process, including governance, to ensure success.

As the Legacy Partners process creates a relationship between you and the incoming owner, there is a level of commitment from both sides, and we spend a lot of time at the start to align what you want, the business needs, and the aspirations of the incoming owner.

However, we do understand that things change – whether it’s personal or business related.

So, our process is flexible to deal with and manage changes, if they arise, with the help of our advisor.

We specialise in finding talent, exit strategies, succession planning and managing gradual business exits.

Our goal is to help maximise the benefits from exiting your business. This could be managing a full exit from your business or helping you access and plan the best exit strategy for your business and situation.

Yes, we do. Each of these advisors play an important role in the Legacy Partner process.

We value keeping existing advisors in place and often our process leads to more work for them and an ongoing relationship with the new, incoming business owner.

Every business is unique and because we create a tailored process, the costs can vary.

Normally our charges are tied to specific milestones – such as when we find the right person, and business growth over the transition period.

There is no upfront cost before formally engaging Legacy Partners.

We have an extremely good track record of success and having an Advisory Board with an independent advisor is crucial for managing and dealing with issues that may arise over the transition period.

Not normally. While we do have relationships with lenders, financial institutions and private equity, that we can use for your benefit, this is always done on your behalf and not ours.

We pair you with one of our advisors that best suits the skills and experience that is relevant and of value to your business. 

Great. We encourage your existing advisors to be part of your Legacy Partners process and we will involve them and draw on their expertise throughout the ownership transition.