Newsagencies with a Tatts Lotteries licence, have a strict transfer of licence process required.

Tatts nominate a monthly Training Calendar, which sets up the transfer process and earliest settlement dates. As seats are limited & applications are on a first-come basis, we recommend submissions no later than 4 to 5 weeks prior to the start of any training date.

The Tatts submission, requires completion of a detailed questionnaire, and creation of a Business Plan & Cashflow for the business you are buying, amongst other things.

Tatts expect this will normally take at least 5 to 7 days to create a considered & quality submission. Anything shorter and they will likely question.

Tatts will not send their transfer application criteria to any potential buyer, until they acknowledge a Contract is signed. After all, you are applying for someone else’s existing license.

Contract signing is usually 7 to 10 days after an offer is accepted under the Newsagencies For Sale ethical process, due to no cooling-off period applicable to business contracts.

So, if you want to meet a Training date, an offer has to be conveyed and accepted at least 6 weeks PRIOR to the start of any training, else you will likely delay settlement opportunity by a further month.

So when you are planning your purchase, call your Newsagencies For Sale Broker for the latest submission deadline.