I would like to know if any of the members or anyone you know have bought (acquisition) a business that has been advertised for sale? If so, can you throw some light on the due diligence you did and how you might have concluded whether or not to pursue the business? Thanks.

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Dimple2001

I did.

Are you planning to incorporate or take over the existing business. With either option, you need to ensure that the agreements cover all the risks you might get exposed in the future esp.., current and future unforeseen liabilities. With the second option you would retain the DBA part and the corporation so do the liabilities.

Soon or later you would realize that you would need an accountant and a lawyer to process and review the deal.

You could send me a PM if you need more details.

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Originally posted by dimple2001

I would like to know if any of the members or anyone you know have bought (acquisition) a business that has been advertised for sale? If so, can you throw some light on the due diligence you did and how you might have concluded whether or not to pursue the business? Thanks.

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The cowards never started,
The weak died on the way,
Only the strong arrived.
http://www.youtube.com/watch?v=_yK1i9cLAMM

Thanks JRF.

It would be an existing business, so will most likely retain the business structure.

I will PM you for more details in about a day or two.

I realized I would need an accountant and lawyer to go over the financials and other details, but thought I'll get some feedback from members.

Thanks again.

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Dimple2001

You are welcome.
The structure will remain in most cases when you take over, you need to decide whether you are going to incorporate or enter the existing ownership as the new director.
Either way, get the seller to send you the draft agreement well in advance before you go to the Lawyer / Accoutant, read it again and again. Mostly, you would be able to figure out when you are concerned about.

Wish you good luck..

Quote:

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Originally posted by dimple2001

Thanks JRF.

It would be an existing business, so will most likely retain the business structure.

I will PM you for more details in about a day or two.

I realized I would need an accountant and lawyer to go over the financials and other details, but thought I'll get some feedback from members.

Thanks again.

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The cowards never started,
The weak died on the way,
Only the strong arrived.
http://www.youtube.com/watch?v=_yK1i9cLAMM

Thanks JRF. I'll be making my first contact with the seller soon. Let's see how it pans out.

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Dimple2001

If you are interested to buy a business with accommodation this is a good opportunity.

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Originally posted by sheths2000

If you are interested to buy a business with accommodation this is a good opportunity.

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Dimple2001