Buying one business, and discovering they have another business for sale

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May 18, 2021

by a searcher from University at Albany, State University of New York - School of Business in Poughkeepsie, NY, USA

Friday was a good day, but I missed this in my research. The person I am trying to acquire a business from actually owns another business that they have been unsuccessfully trying to sell. This shouldn't hold up my progress but it certainly can and likely is in some capacity.
Any tips? Stay focused on the business I can definitely buy/help with?

For reference, I am buying smaller insurance operations. This person also owns the local, very rural area, gas station/market/beer/store and has for 30 years.

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Reply by a searcher
from Harvard University in Colorado Springs, CO, USA
Having lived in a very rural area, I don't think that it's going to be a problem for you. It's pretty typical for one person in a small town to own several businesses.

I would make sure that the seller has done a good job of keeping the books separate over the years (using tax returns/quick books data), but as long as you feel comfortable that they aren't intermingling the finances, I'd leave it at that and focus on the other DD you're interested in. Best of luck!
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Reply by a professional
from University of Wisconsin in Raleigh, NC, USA
Stay focused on what makes sense for you. Don't be distracted.
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