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.
Buying one business, and discovering they have another business for sale
by a searcher from University at Albany, State University of New York - School of Business
More on Searchfunder
Searchfunder is an online community and toolkit for searchfunds. Over 80% of those involved in searchfunds maintain a Searchfunder.com account to help them network, problem solve challenges, and keep up with the industry.
We maintain partnerships with database providers that make searching more effective, efficient and affordable along with features that help searchers find deals and investors and vice versa.
We maintain partnerships with database providers that make searching more effective, efficient and affordable along with features that help searchers find deals and investors and vice versa.
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!