If you’re preparing to immigrate to Australia and go into business for yourself, there are more resources than ever to help make that happen. The Australian Government provides numerous options for business visas, so it’s important to understand which one is right for you. Having a solid immigration strategy upfront can streamline the process significantly and get you on the right track to acquiring the business you want.
You can choose to either set up a new business and work from the ground up, or you can purchase an existing one. The latter is the most reasonable due to immediate cash flow, an instant financial history, existing customers and/or staff, and your market is already determined. Buying an established business will also allow you to build your new life in Australia and settle in comfortably.
Ideally you will already have a business or entrepreneurial background, and the choice of businesses for sale in Australia is extensive, however one of the strongest industries to consider working in is the retail industry, and supermarkets are continuing to grow as Australia’s population increases. Retail trade is the second largest employing industry with more than 1.2 million workers, or about one-in-nine working Australians.
So if you want to immigrate to Australia and get started owning a supermarket business, you will need to understand what it takes to get one.
Learn about your visa options
Talk to a migration consultant about what visa is best for you, as there are a variety of options. Australia recently introduced the Business Innovation and Investment Program (BIIP) to help attract talented and successful business people set up and grow their business activities. It’s aimed at increasing entrepreneurial talent and diversifying business expertise in the country, and it’s one of the newest options available.
Find a business broker
There are Australian business brokers who specialise in selling business to international buyers and have the right contacts and databases to help you buy a business that will suit you. A migration consultant can talk to you about visa options, while a business broker can help expand your knowledge and explain to you the necessary pre-requisites before applying. They can also help navigate you through Australian laws, the negotiation process, financial regulations and insurance.
Choose your business purchase
In most cases, international buyers already have experience in a particular industry in their home country, but it’s also important to look at what will suit your new life in Australia and what will be the most successful and most profitable for you.
Offer, purchase and settle
Once you have gone through all the legal paperwork, talked to the right people and found the perfect business that is right for you, you will go through Australia’s normal procedures of making an offer, purchasing the business and acquiring it. Carefully study all your documents; read through them carefully and make sure you understand fully the terms of contract.
It’s a great time to go into the Australian supermarket retail industry, with supply and demand in good strength. There are so many options out there, and acquiring a supermarket is a viable one, so with Australians looking to reap the benefits of their work and pass on their businesses, you can accomplish your own financial goals and establish yourself in the Australian market. Purchasing a supermarket could help you start living the quality of life that is attracting you to Australia sooner than you hoped.