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Buying an existing business

by jcristan, Window Shopper

  • Created: December 13, 2011, 12:45 pm
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4 comments

I found a women's boutique for sale. The owner is selling her business because she is getting married and moving away. She's been in business since 2009. Im very interested. The price is extreamly low because she is desperate to move to be with her fiance. The boutique comes with everything. Pretty much a turn key.What information should I be asking from her? What steps do I need to take in order to protect myself. Any advices would be greatly appreciated.

Tags: Discuss Popular Topics, Starting & Registering a Business
‹ Staring A Pharmacy Business Renter doesn't pay Rent ›

kmurray | Community Moderator | 12/15/2011 - 8:09 am

Hi, Check out our resources about buying an existing business, which address doing research, making a sales agreeement, a checklist for closing, and more.

Frankrizal | Performer | 12/13/2011 - 7:47 pm

Is the business successful and has a good credibility with its customers, If yes you may want to consider buying it. Ask a good attorney about this matter. 
Professional Web Site: Apartment for rent in Manila

BizResearcher | Window Shopper | 12/13/2011 - 1:52 pm

  When purchasing an existing business, you need the assistance of an accountant and an attorney. You don't want any nasty surprises. The business owner should provide you with at least three years of financial statements and tax returns so you can get an idea of the profitability of the business and outstanding debt you may be inheriting. If the shop is in a leased location, you will want to talk with the landlord and obtain a copy of the lease and check it carefully. Does the shop owner have employees? If so, you need information about them and her agreements with them. Your attorney and accountant will recommend other issues you need to address as well.

investologic | Window Shopper | 1/5/2012 - 12:36 am

Show Replied Text…
 When purchasing an existing business, you need the assistance of an accountant and an attorney. You don't want any nasty surprises. The business owner should provide you with at least three years of financial statements and tax returns so you can get an idea of the profitability of the business and outstanding debt you may be inheriting.If the shop is in a leased location, you will want to talk with the landlord and obtain a copy of the lease and check it carefully. Does the shop owner have employees? If so, you need information about them and her agreements with them.Your attorney and accountant will recommend other issues you need to address as well.
Yes it makes sense. Destressed companies are available for discounts and can prove to be a very good bet in long term. Revival of the Business is totally depended on the new management of the company..
Professional Web Site: http://www.investologic.com