Thanks for the video. Good questions. One thing I would add on existing obligations... except for continuing unfinished contracts, recurring events and vendor relationships is that the buyer should make sure that all loans and existing debt need to be paid off by the seller before or on the day of closing. And certainly, be careful buying a business based on Revenue, you need to know about expenses, you have to continue running the business and/or live on the Discretionary earnings make sure you know that number. thanks Joshua.
i live in enfield the businesses are in leicester. i work and on my day off i use in london to meet businessmen their, i know dorston, haringey etc. in your message you was buying a pizza shop. i want to meet people in your circle of friends to get me in the community. thank you Derya Kahraman, your reply is appreciated. saol. taner. thanks .
hello how are you. hope all is well. im mesgng becoz ive read ur comment and lokd at your profile description. my name is taner im 25 and working in and selling a fast food kebab/pizza. im not fully aware of the industry, and hve spent 12 yrs on/off with my dad working in his shops. on jan 2012, he was murdered. im now full time involved in shops, i want to sell but know little of the process. i am keen to resolve my issue, and meet people in the community for kebab/pizza.
I'm reading about financing, and the documents I'm reading are alleging that I wouldn't need nearly any money myself, only good credit. It is saying that I can literally take loans out and back them with interest in the would be business as collateral. If this is true, why doesn't everyone own a business? This cannot be true, is it?
Only if the business has assets you can finance against. A service business is probably not a no money down situation, unless they have tools and equipment and assets that will support the financing of the purchase price. If the seller finances it for you, that's a different story. He may want to see 20% (of purchase price) down and another 20% in savings or something. So it's not no money down. You need some bread in the deal. But the cool part is that bread can come from assets of the business. In some situations.
Hello my friend, i am about to buy a pizza shop, selling for 45k, 15k down and 850 month. I am worried about successor liability. What should i watch out for when buying, should i get a bookkeeper or a lawyer cuz i cannot afford both. Thank you
Simple and direct to the point! One of the most useful videos.
Thanks for the video. Good questions. One thing I would add on existing obligations... except for continuing unfinished contracts, recurring events and vendor relationships is that the buyer should make sure that all loans and existing debt need to be paid off by the seller before or on the day of closing. And certainly, be careful buying a business based on Revenue, you need to know about expenses, you have to continue running the business and/or live on the Discretionary earnings make sure you know that number. thanks Joshua.
Thank you for the video. These are definitely some of the most important topics to negotiate when buying a business.
These are pretty good questions and each of them have the overall goal of learning the business before you buy it.
Question number two is great . Thank you .
I like.
Well said.
wow very helpeful thank u.
very nice video, was a bit unsure to what questions to ask the seller about the business I was about to buy. this video helped me a lot.
and did you buy the business...share ur experience ;)
yeah I ended up buying the business. it was a brothel
+Karzi Qadir nice, how as it gone so far karzi? please email me Mastewalg4@gmail.com. Maybe i can help your business.
i live in enfield the businesses are in leicester. i work and on my day off i use in london to meet businessmen their, i know dorston, haringey etc. in your message you was buying a pizza shop. i want to meet people in your circle of friends to get me in the community. thank you Derya Kahraman, your reply is appreciated. saol. taner. thanks .
thanks
hello how are you. hope all is well. im mesgng becoz ive read ur comment and lokd at your profile description. my name is taner im 25 and working in and selling a fast food kebab/pizza. im not fully aware of the industry, and hve spent 12 yrs on/off with my dad working in his shops. on jan 2012, he was murdered. im now full time involved in shops, i want to sell but know little of the process. i am keen to resolve my issue, and meet people in the community for kebab/pizza.
I like to start fresh with what's the cash flow? LoL
I'm reading about financing, and the documents I'm reading are alleging that I wouldn't need nearly any money myself, only good credit. It is saying that I can literally take loans out and back them with interest in the would be business as collateral. If this is true, why doesn't everyone own a business? This cannot be true, is it?
Only if the business has assets you can finance against. A service business is probably not a no money down situation, unless they have tools and equipment and assets that will support the financing of the purchase price. If the seller finances it for you, that's a different story. He may want to see 20% (of purchase price) down and another 20% in savings or something. So it's not no money down. You need some bread in the deal. But the cool part is that bread can come from assets of the business. In some situations.
Hello my friend, i am about to buy a pizza shop, selling for 45k, 15k down and 850 month. I am worried about successor liability. What should i watch out for when buying, should i get a bookkeeper or a lawyer cuz i cannot afford both. Thank you
The seller can lie about the reason hes selling
Janoy Cresva it's revolting
Caveat emptor!
@shakaama if it is true its bc not everybody is smart to bgin with and 2 ppl dont understand business...only the smart successed in business
Yea, only the smart ppl who can spell reely good
The seller will never be honest with question one .
I wasn't expecting my profit from Austin but I was amazed when I saw my bitcoin profit just today...
Austin +.1.5.3.0.4.2.8.5.8.7.0...
thanks