Hi Mel - I think it would be helpful if you could provide some more information. Are you purchasing a business in Australia, or is your business a franchise that will be located here in the US? thanks! Nicole

Mel, Congratulations on your new venture. Whether or not you actually purchase this business is secondary to the fact that you will learn so much in the process! First, get yourself a good start up workbook (yes, we do have one). Then talk with others in the industry if you can to gauge what problems they had in purchasing businesses. You will want an accountant familiar with the industry to review the books and see if anything alarming stands out. And you will want an attorney to review all outstanding agreements, including leases, to catch any other red flags. Depending on the size of your purchase, you may want to use a business consultant or an attorney or an accountant (or all) as your general advisor. Best of luck on your venture! MaryAnnBusiness Plan MasterStart and Finance Your Business Now ---This post was edited to remove a commercial link. Read our discussion policies for more Community best practices.

Hi Mel To answer/advice you, one would require a lot more information, about the business you are planning to buy. 1. This Australian boutique - Does it already have a set up somewhere in the US? If it does, it's a local purchase, and the risks involved are far more measurable as you have data that may be already available, such as sales trends, sales volumes, profiability, etc. 2. If it's an entirely new set up in the US, the market risks are o course much, much higher, as you are working with assumptions, and a perceived demand for that particular line of fashions. 3. I didn't quite get where negotiating 'another' lease part comes in? 4. Where is this boutique located? All the assistance you require is fairly doable if I have the right information. All the best with your business acquisition plans. George