Walk-In Walk-Out
Last reviewed 13 June 2026 by Nick Lim, finance broker (FBAA).
Walk-In Walk-Out (WIWO) is the sale of a business as a turnkey operation, where the buyer walks in and keeps trading while the seller walks out, with stock, equipment and the lease transferring as part of the deal. It is common for leasehold hospitality and retail businesses sold as a going concern. Because there is usually no freehold property, lenders fund WIWO deals through a business loan or private lending rather than a commercial property loan.
Why Walk-In Walk-Out Matters
WIWO lets a buyer keep trading from day one, but the funding leans on cashflow, not property.
- Turnkey transfer of a trading business
- Stock, equipment and lease included in the sale
- Usually a leasehold business, sold as a going concern
- Funded on cashflow, not freehold property security
- Fast continuity of trade for the buyer
Common Features of Walk-In Walk-Out
- Buyer continues operating immediately
- Plant, equipment and stock transfer with the business
- Lease assigned to the new operator
- No freehold property in the sale
- Common in cafes, takeaways and small retail
Official reference: business.gov.au
What does walk-in walk-out mean?
The buyer takes over a trading business as a turnkey operation while the seller walks out, with assets and lease included. It is a form of going concern sale.
Is stock included in a WIWO sale?
Usually yes, stock and equipment transfer as part of the deal, though stock is often counted and priced at settlement.
How is a WIWO business financed?
Generally through a business loan or private lending, since most WIWO deals are leasehold with no property security.
WIWO vs freehold going concern?
WIWO transfers a leasehold business; a freehold going concern also transfers the property.
Is WIWO the same as buying a franchise?
No. WIWO is buying an existing independent operation; a franchise involves a franchisor agreement.